Trustmark Announces Changes to Overdraft Services and Elimination of Non-Sufficient Funds Fees
March 14 2022 - 3:30PM
Business Wire
Trustmark National Bank, a wholly-owned subsidiary of Trustmark
Corporation (NASDAQGS:TRMK), today announced new efforts to reduce
consumer checking account fees in its ongoing initiatives to help
consumers have more financial stability. By the end of the year,
Trustmark will eliminate non-sufficient funds fees for all consumer
checking accounts. Additionally, a transactional de minimis
threshold will be established on consumer checking accounts to
eliminate overdraft charges for small dollar transactions.
“These modifications to our fee structure are a direct
reflection of our long-standing mission to provide outstanding
customer satisfaction,” stated Duane Dewey, Trustmark’s CEO. “The
changes will benefit customers as they work to responsibly manage
their financial wellbeing.”
Trustmark will continue to promote its extended banking hours
which allow consumers the opportunity to make deposits through
multiple channels, and as late as 9:00 p.m. for same business day
credit, to avoid overdraft fees. Trustmark’s services such as
mobile deposit, online banking, interactive teller machines and
deposit-taking ATMs offer convenience and flexibility for consumers
needing a grace period for transactions and alternatives to branch
banking hours.
“By eliminating non-sufficient funds fees and waiving overdraft
fees for small dollar transactions, our customers have more
available funds to meet their immediate spending needs,” stated Art
Stevens, Trustmark’s President – Retail Banking. “This move is a
strong complement to our many other products and services developed
to meet the various budget needs and lifestyles of our
customers.”
Trustmark offers consumers additional ways to improve their
financial wellbeing, such as its BankOn certified account -
Advantage Checking - which does not allow overdrafts and provides
incentives for customers to utilize the bank’s online financial
education toolkit to enhance their financial knowledge and skills.
Trustmark also limits overdraft fees to no more than 5 items per
day and does not charge a per-day fee for accounts that remain in
overdraft status.
Dewey further commented, “We remain steadfast in our commitment
to improve customers’ financial health and will continue to build
upon these efforts.”
About Trustmark
Trustmark Corporation is a diversified financial services
company headquartered in Jackson, Mississippi, with 179 locations
in Alabama, Florida, Mississippi, Tennessee and Texas. Trustmark
provides banking, wealth management and insurance solutions through
its subsidiaries, including Trustmark National Bank, Trustmark
Investment Advisors, Inc., and FBBINSURANCE. Visit
trustmark.com for more information.
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version on businesswire.com: https://www.businesswire.com/news/home/20220314005573/en/
Melanie Morgan Director of Corporate Communications &
Marketing 601.208.2979 mmorgan@trustmark.com
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