Chase, Wells Fargo, and Bank of America each made $2B in overdraft
Zuben Matthews · How he grew to $100M ARR—then exited for $460M. | Zuben Matthews, Founder of Brigit · PMF Show · Jul 14, 2025 · at 11:03
Brigit founder Zuben Matthews details the profitability of overdraft fee revenue for major US retail banks.
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“Chase, Wells Fargo, and Bank of America at that point in time, again, going back to seven years, were each making two billion annually. That's so give or take six billion, and almost all of that goes to their nibbets. It's almost all Pre-tax profit.”
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