Capital One eliminates all overdraft, nonsufficient fund fees

Capital One Financial Corp. is eliminating all overdraft fees and nonsufficient fund fees for its consumer banking customers but will keep providing free overdraft protection, which customers may choose whether or not to access.

All customers enrolled in overdraft protection at present will be automatically converted to no-fee overdraft on the launch date in early 2022, and eligible customers who are not currently enrolled can enroll at any time. For customers who are not enrolled, transactions that would overdraw an account will be declined and no fees will be assessed.