Apple Bank for Savings announced plans to eliminate fees charged for checks and ACH transactions returned due to insufficient or unavailable funds for both consumer and business accounts.
The elimination of the fees will coincide with its system upgrade scheduled for Aug. 8. The bank, which has branches across Westchester and Rockland counties, will reduce from six to three the daily maximum number of overdraft fees a customer will incur, and it will also increase the daily overdraft threshold under which no fees will be charged to $50.00 on any business day.
Separately, the bank stated it would eliminate fees charged for PIN-based Visa debit card transactions processed on-line or at merchant locations. The bank does not charge fees for signature-based Visa debit card transactions.
“The Bank made this decision after careful review and our desire to continue to offer easily understandable, well-priced deposit products,” said Steven C. Bush, chairman, president and CEO.
