Who’s Affected by NSF Fees?
NSF fees, from as much as $27 to $39, are being charged by banks to account holders for having insufficient funds when paying a transaction or check that gets rejected. Consumers claim that in some cases they are being charged multiple NSF fees for the same items when they try to reprocess the payment when it is denied. If you believe you’ve been unfairly charged NSF fees by your bank or credit union, contact us today for help joining an NSF Fee Class Action Investigation.
What Are NSF Fees?
An NSF fee, or non-sufficient fund fee, also called an insufficient fee or returned payment fee, are fees charged by financial institutions such as banks and credit unions when the account doesn’t have enough funds to pay for a transaction and a return is done or the transaction simply does not go through. They are different from overdraft fees that are being charged only when a consumer opted into overdraft protection and the transaction is being covered by the bank even if the account is overdrawn.
This type of fee is not illegal, per se, but many consumers have long complained that banks are abusing this practice by continually charging multiple NSFs for the same transaction.
Editor’s note on the NSF Fee Class Action Lawsuit Investigation:
This piece is written about the recent NSF Fee Class Action Lawsuit Investigation. If you are considered eligible to be among the class of consumers described in the class action lawsuit investigation, you may eventually be able to participate in receiving any compensation the court may award.
If you believe that what is alleged in the NSF Fee Class Action Lawsuit Investigation has affected you, please don’t hesitate to reach out to us.
We’d be happy to help you take a step in the right direction, fight this issue, and better enable you to join in on any potential consumer class action. If interested, please send an email to Outreach@ConsiderTheConsumer.com, find us on Twitter or Facebook, or even connect with us directly on our website! We look forward to hearing from you all.
Similarly, please check out our current list of Class Actions and Class Action Investigations, here.
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