Sandy Spring Bank Eliminates Non-Sufficient Funds Fees, Revises Overdraft Policies for All Personal Deposit Products
December 19 2022 - 9:00AM
Sandy Spring Bank, the primary subsidiary of Sandy Spring Bancorp,
Inc. (Nasdaq: SASR), today announced it has eliminated
non-sufficient funds (NSF) fees on all personal accounts, and has
made changes to its overdraft policy and fees, as part of a
comprehensive strategy to regularly review fee structures and make
banking easier and more affordable for consumers.
"We are always listening to our clients and refining and
enhancing products based on their feedback,” said Jay O’Brien,
Executive Vice President and Chief Banking Officer of Sandy Spring
Bank. “Individuals and families want to be in control of their
banking in ways that best meet their financial goals, regardless of
when, how and where they bank with us. Our bankers bring a
personalized approach and consult with each client to help them
choose the products and services that best meet their individual
needs.”
The Bank’s personal clients also will benefit from changes in
fees for overdrafts, imposed when banks accept checks and other
debits that overdraw a client’s account.
Those changes include:
- Lower overdraft fees for all accounts;
- Elimination of extended overdraft fees, previously imposed when
an account was overdrawn for seven consecutive calendar days;
- No transfer fees for clients who have elected overdraft
protection, which is a service that links the checking account to
the client’s savings account to cover an overdraft.
About Sandy Spring Bank Sandy Spring Bank is
wholly owned subsidiary of Sandy Spring Bancorp, Inc. (NASDAQ:
SASR), a financial services company headquartered in Olney,
Maryland. Sandy Spring Bank is a premier community bank in the
Greater Washington, D.C. region. With over 50 locations,
the bank offers a broad range
of commercial and retail
banking, mortgage, private banking,
and trust services throughout Maryland, Virginia, and
Washington, D.C. Through its subsidiaries, Rembert Pendleton
Jackson, and West Financial Services, Inc., Sandy Spring Bank
also offers a comprehensive menu of wealth management
services.
Contact: Diane Deskins HicksSVP, Director of Brand and
PR240-608-3020dhicks@sandyspringbank.com
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