With the announcement today from SunTrust Banks Inc. that it has eliminated the monthly check card fee on its Everyday Checking Account, that – plus similar recent announcement from a few other banks – leaves Regions Financial as the remaining large bank still hanging on to its plan to add new fees for debit card users.
SunTrust’s fee will no longer be charged starting Wednesday, Nov. 2. All clients who incur – or have already incurred – the debit card fee before that date will get a refund.
In a statement about the policy shift, SunTrust consumer banking and private wealth management executive Brad Dinsmore said: “We believe banking is a relationship business and recognize the importance of responding to client preferences. We’ve listened to our clients’ feedback and will provide the convenience and security of check cards at no additional charge as part of all of our checking accounts.”
Meanwhile, Bank of America has begun rolling out ways customers can avoid its new debit card fees. Wells Fargo has also pulled back from such fees.
No word yet if Regions will change course.