Cape Cod 5 Eliminates Overdraft Fees

HYANNIS – Cape Cod 5 will eliminate overdraft and non-sufficient funds fees for both personal and business customers starting in June.

The eliminated fees include charges related to insufficient funds, uncollected funds, and savings transfers to cover overdrafts.

Cape Cod 5’s Chair and CEO Dorothy Savarese said the upcoming change fits with how the community bank works with clients.  

“The elimination of all fees associated with overdrafts aligns with the bank’s values,” Savarese said.

Cape Cod 5 will also introduce a BankOn-certified personal checking account to customers in June. The goal of the account is to give people an accessible and affordable option that also promotes consumer safety.  

BankOn accounts are nationally certified and help individuals seeking to improve their finances or establish a banking relationship.

Click here to learn more about the Cities for Financial Empowerment Fund’s BankOn programs.  

By Brian Engles, NewsCenter

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