PYMNTS

JUNE 17, 2019

Discover Financial Services said Monday morning (June 17 th ) that it has ended fees on deposit accounts. Fees also falling by the wayside include penalties for falling below minimum balances and stop-payment requests. As has been noted elsewhere, the average fee banks charge to maintain an account is now $13.58

Deposit Account 62

Deposit Account Accounts Debit Card Stop Payment 62

PYMNTS

NOVEMBER 4, 2019

Earlier this year , Discover announced it was going to make all deposit accounts fee-free. The company said in a release that customers with checking, savings, money market or CD accounts held with Discover Bank “can now rest easy” with the knowledge that fees will not accrue in the event of “an occasional oversight or pressing need.”.

Debit Card 40

Debit Card Deposit Account Stop Payment ATM 40

PYMNTS

JANUARY 3, 2019

USAA, which is headquartered in San Antonio, Texas, was accused of not properly honoring customers’ requests to stop payments on preauthorized electronic fund transfers. It also failed to start and complete reasonable error resolution investigations, the Bureau said.

CFPB 51

CFPB Consumer Financial Protection Bureau (CFPB) Error Resolution Funds Transfer 51

PYMNTS

OCTOBER 5, 2019

Over the summer, Discover captured a lot of headlines and attention with the announcement that it was dropping the fees on all of its deposit accounts – including fees for insufficient funds and excessive withdrawals, as well as penalties for falling below minimum balances and making stop-payment requests.

Deposit Account 75

Deposit Account Returns Rules Consumer 75