LAS VEGAS – Overdraft fees and bounced checks are two of the least popular interactions between banks and their customers. With studies showing such penalties becoming more common, Nevada State Bank has created a new type of banking account to wipe out such worries.
A 2013 study by Moebs Services reported that U.S. consumers paid $32 billion in overdraft fees that year, a $400 million jump from 2011. According to data from a Consumer Financial Protection Bureau report, millennials, those aged 18-25, are four times more likely than those over 62 to suffer more than 10 overdrafts fees every year.
With the new Worry-Free account from Nevada State Bank, overdraft fees are a thing of the past. This new type of account provides customers convenient and immediate access to cash without the fear of bank overdraft fees or bounced checks.
“We’ve targeted Worry-Free accounts to clients who want a bank account without the risk of overdraft fees, in addition to parents who worry about their children not having the experience of managing their money,” said Craig Kirkland, executive vice president and director of retail banking. “We’re allowing these newer customers to build a great foundation for a future banking relationship.”
Worry-Free accounts can be opened with as little as $20, offering a debit card and no minimum balance requirements and no overdraft fees. Other fees may apply.
For additional information on Worry-Free accounts, visit www.nsbank.com/personal/checking_accounts.
About Nevada State Bank (@NevadaStateBank)
Nevada State Bank, with assets of more than $4.0 billion, is the largest state-chartered bank in Nevada. A full-service bank with 50 branches statewide, Nevada State Bank offers a complete range of consumer, private and business banking services. It is a subsidiary of Salt Lake City-based Zions Bancorporation (Nasdaq: ZION), one of the nation’s premier financial services companies. With affiliates in 10 Western and Southwestern states, 140-year-old Zions Bancorporation has assets of $55.2 billion. For more information on Nevada State Bank, call 702.383.0009 or access www.nsbank.com.