BB&T Corp (NYSE: BBT) Follows Wells Fargo and Bank of America and Restructures Overdraft Fees

BB&T Corp (NYSE: BBT) will eliminate overdraft fees for debit cards and ATM transactions when clients overdraft their checking accounts by less than $5.00 as of January 1^st.

The North Carolina based bank says it also will not charge more fan four overdraft fees per days. BB&T customers will also be alerted at its ATMs when they initiate a withdraw that would overdraft their accounts.

BB&T currently has about 50 branches in Florida, totaling $1.8 billion in deposits.

In a statement about the changes, senior executive vice president for deposit services, Donna Goodrich, stated, “Client satisfaction continues to be our top priority. The changes we’re announcing today, in addition to tools and services we already provide, will help our clients better manage their deposit accounts.”

BB&T’s move follows moves by other major banks to redraft its over policing in the wake of rising public criticism about excessive charges. Last week, Bank of America announced that it would be changing its checking account fees. As of October 19^th, it will no longer charge fees to a customer when their account is overdrawn by less than $10.00 for one day.

Wells Fargo and Wachovia announced that they would be eliminating fees for customers that overdraw their accounts by less than $5.00. Both Wells Fargo and Bank of America have also committed to charging no more than four overdraft fees per day.