Beginning July 22, JPMorgan Chase will no longer charge overdraft fees incurred by purchases that cost $5 or less, according to the bank's checking disclosure notice. The new policy will prevent customers from wracking up outsized fees for small purchases -- like a $34 overdraft fee for a $3 slice of pizza.
American Express cards will continue to be accepted at Costco stores until June, or perhaps mid-summer, when the contract will be switched to Citi. Costcoâs switch from American Express to Visa is being pushed back to this summer. Itâs now saying that transition will happen in June or by midsummer.
American Express credit cards will no longer be accepted on that date. Thatâs a hit to AmEx. Last year, Costco accounted for 8 percent of American Express billed business, 10 percent of its cards in force and 20 percent of its worldwide loans.Citigroup is also expected to take over the existing American Express Costco credit cards.fter the announcement last month that Costco was ending its relationship with American Express, âwe wanted to reassure everyone that we had another deal in the works,â says David Sherwood, director of finance and investor relations at Costco.