Citi first big bank to eliminate all overdraft fees

(New York, NY) -- Say goodbye to more overdraft fees.  

Citigroup is the first major bank to get rid of them altogether. By this summer, customers won't be charged for overdrafts or returned items.  

Several smaller lenders, such as Capital One and Ally Financial, are also ending the fees. Other bigger banks haven't gone that far but are making changes.  

Bank of America lowered its overdraft fee to ten-dollars, Wells Fargo is offering a 24-hour grace period, and Chase won't issue a fee until accounts are overdrawn by 50-dollars.