The recent changes Chase has been making to their fee schedule is one indicator of how water – in this case fees – will find a new level. For example, here’s a new twist on overdrafts:
Its overdraft protection transfer fee, charged when monies are moved from one Chase account to another to cover an overdrawn account, is rising from $10 a day to $12 . Fees are waived for two premier accounts, or if the account if overdrawn by $5 or less.
So, while the fee is not for overdrawing the account, but for transferring money to cover an overdraft. Wisely, Chase is self-regulating their new structure, but not charging a fee if the account is overdrawn by $5.00 or less. Keeping one step ahead of regulators is going to take some careful calibration.