Is Chase getting desperate about losing its overdraft fee income?
Buried in a comment to this post about Chase’s letters asking customers to opt-in to overdraft protection (now that they have to have customers opt in) is an interesting comment:
Either way, Hubby and I have been inundated with mail from them about this. I’m not joking when I say we’ve received over 10 separate letters from Chase about it. Talk about killing trees. We are likely switching banks soon.
Ten separate letters? Now if that doesn’t sound like desperation …
Fees & charges | admin June 18, 2010
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By coakl, January 11, 2011 @ 1:46 pm
Not desperation, simply targeting your most profitable victims.
The letters, phone calls, and website prompts were tailored to the customer. Meaning that if you “contributed” many overdraft fees in the past, the bank wanted you to continue “donating.”
That’s why one customer would get 10 letters and another might get only 2.