Wintrust Financial Corporation (“Wintrust”) today announced that all overdraft and item return fees will end effective March 1, 2023 for consumer deposit accounts at each of its community banks. Business accounts will remain under the existing overdraft and item return fee structure.
President of Wintrust Timothy S. Crane, said: “Given the number of ways to engage customers through technology, the industry continues to move toward the use of financial education and notifications and away from account fees. In this light — rather than reduce or modify our fees as other peers have done — we made the decision to completely eliminate all overdraft and item return fees on consumer banking accounts. With real-time notifications and other tools accessible 24/7, we have seen a decrease in overdrafts and item returns as our customers can remedy those situations before they occur. And we believe that eliminating these charges altogether and working with our consumer banking clients when low balances occur will strengthen our relationships with them.”
Effective March 1, 2023
Changes to be implemented later in 2023
In addition, consumers can manage their accounts with the following existing features to avoid overdrafts and item returns:
Please visit your local Wintrust branch to learn more about these changes.
Locate the branch nearest to you here.