Additional Sources of Bank Revenue
By Ayman El Qasem, Philip Son, and Carter Gayring, Trevor Barton
Overdraft Protection - A line of credit that banks offer to their customers to cover their overdrafts. Overdraft protection kicks in when a customer writes a check for more than the amount in their account. However it comes at a price as it an interest is charged on the amount
Services - Banks also make money from services they offer their consumers for an additional charge that have extended from the former norm of banking, turning many banks into huge corporations.
- ATM Charges
- Insurance sales fees
- Trading fees
-According to the FDIC, in the first quarter of 2008, banks earned 9.9 billion dollars from service charges on deposit accounts alone