Webster Bank Eliminates Fees to Benefit Clients
STAMFORD, CT, May 9, 2023 – Webster Bank today announced it will eliminate returned items fees and overdraft transfer fees to benefit clients and consumers. These changes are anticipated to be effective in the second half of 2023.
In addition to the eliminated fees, Webster also provides the following services for clients to help them manage their accounts including:
- No assessment of an overdraft fee if an account is overdrawn for less than $5 at end-of-day;
- Balance alerts established through Webster’s Mobile Banking app and Webster Online Banking; and,
- Overdraft protection, which draws from their savings account or a line of credit.
“Webster is committed to offering our consumer banking clients and prospects the best products and services,” said James Griffin, Executive Vice President, Head of Consumer Banking at Webster. “These positive changes to our servicing fee schedules are a reflection of that and align with Webster’s commitment to make banking easier for our customers.”
Changes to customer fees are reflected in the financial outlook provided on Webster Financial’s first quarter 2023 earnings call.
Learn more about Webster’s checking account and broader consumer offerings.
About Webster
Webster Bank (“Webster”) is a leading commercial bank in the Northeast that provides a wide range of digital and traditional financial solutions across three differentiated lines of business: Commercial Banking, Consumer Banking and its HSA Bank division, one of the country’s largest providers of employee benefits solutions. Headquartered in Stamford, CT, Webster is a values-driven organization with $75 billion in assets. Its core footprint spans the northeastern U.S. from New York to Massachusetts, with certain businesses operating in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including our latest annual report, please visit our About page. To find our latest press releases, visit the Webster Newsroom.
| Media Contact: | Investor Contact: |
|---|---|
| Alice Ferreira | Emlen Harmon |
| acferreira@websterbank.com | eharmon@websterbank.com |
| 203-578-2610 | 212-309-7646 |