Cleaveland.com: Huntington Bank to Offer One-Day Grace Period on Checking Overdraft Fees

by Mercator Advisory Group 0

Huntington Bank has come up with what might be a consumer-friendly way to charge an overdraft fee.

Essentially, it warns the consumer that a fee is about to be charged and gives them one day to cover their overdraft.

The service also encourages the use of text and email communications between the bank and its accountholders – which may help establish these channels as meaningful and effective interaction opportunities for both parties.

Huntington’s new free service will notify checking account customers by text message and e-mail if their accounts go into the red, and give them one business day to deposit money to cover the overdraft and avoid any fee.

Read article here:

http://www.cleveland.com/business/index.ssf/2010/09/huntington_bank_to_offer_one-d.html