Move Demonstrates Bank's Commitment to Customer Service
Bank of the West today announced changes to its overdraft policies to help customers avoid fees. The Bank will eliminate overdraft fees for customers who overdraw their accounts by less than $5 and will not charge more than four overdraft fees per day. The changes, which demonstrate Bank of the West's commitment to excellent customer service, will take effect in the second quarter.
Bank of the West is one of the first regional banks to announce steps to help customers reduce overdraft fees and better manage their finances.
"Bank of the West is known for outstanding customer satisfaction, and these measures, designed to reduce the fees associated with overdrafts, are another way we are striving to better serve our customers and help meet their financial needs," said Andy Harmening, senior executive vice president and head of the Regional Banking Group for Bank of the West, which was ranked the "Highest in Customer Satisfaction among Retail Banks in the West Two Years in a Row" by J.D. Power and Associates in 2008 and 2009.
"Very few of our customers incur overdraft charges, and for those who might, we provide several services to help minimize potential expenses," Harmening said. "Our customers can monitor their accounts using online banking, email alerts and 24-hour-a-day automated phone service. They can also link a savings account to their checking account to provide overdraft protection or they can apply for an overdraft protection line of credit."
About Bank of the West: Based in San Francisco, $64 billion-asset Bank of the West (www.bankofthewest.com) offers a full range of business, corporate, personal, trust and international banking services. The Bank operates more than 700 branch locations and commercial banking offices in 19 Western and Midwestern states. In 2009, for the second consecutive year, Bank of the West was ranked the highest in customer satisfaction among retail banks in the West by J.D. Power and Associates. Bank of the West's holding company, BancWest Corporation, is a subsidiary of BNP Paribas, among the six strongest banks in the world, according to Standard & Poor's.
Bank of the West received the highest numerical score among retail banks in the West (CA, OR, WA) region in the proprietary J.D. Power and Associates 2008-2009 Retail Banking Satisfaction StudiesSM. 2009 Study based on a total of 28,570 responses measuring nine providers and measures opinions of consumers with their primary banking provider. Proprietary study results are based on experiences and perceptions of consumers surveyed in January 2009. Your experiences may vary. Visit jdpower.com.
Contacts:
Bank of the West Corporate Communications
Jim Cole, 415-399-8268
(Media)
Jim.cole@bankofthewest.com
or
Edelman
PR
Pablo Rodriguez, 415-486-3267 (Media)
Pablo.rodriguez@edelman.com
