Ally Bank ends all overdraft fees, first large bank to do so

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I remember when the first brokerage pushed out $0 trades and then everyone had to follow. This is huge! While I haven’t paid an overdraft fee ever, I know this is a problem that punishes the poor and makes them more poor so I’m all for this change.


When I worked at the credit union, I was able to look at our company’s account and they made like $50-60,000 a day on fees. That was like in 2008. Probably double that now. I can’t imagine them wanting to give that up.


Overdraft fees were just so high to begin with. Isn’t it like $50 if you overdraw by a penny?


Discover Bank went to zero fees a couple years ago.


Never understood why any over draft is allowed. Its purely predatory. I just have mine blocked at my credit union.