Does Illinois law limit the fee that can be charged for a returned check (chargeback) to $25 for personal accounts and $4.50 for commercial accounts? (It seems that any disclosures I see, the fee is always $4.50 for all types of accounts??)

Thank you.

Did you ever get an answer to this, by a PM or something? I am trying to determine if there is a maximum overdraft charge a bank can charge in Illinois.

Thanks!

I'd be interested in knowing the citation/source for a $4.50 limit for commercial accounts, please. I know of Illinois banks charging more than $4.50 on both commercial and personal accounts. Anyone know offhand?

The cite for the $4.50 is under the Illinois UCC. 810 ILCS 5/3-806 810 ILCS 5/3-806, last paragraph.

A fee or charge not to exceed $4.50 may be assessed to any person or owner of a commercial checking account or other similar commercial account where a check or other draft that is deposited into the account is dishonored upon presentment because of insufficient funds or because the drawer does not have an account with the drawee; provided, however, that, the limitation on the fee or charge specified in this paragraph does not apply to any fee or charge assessed to any bank or other depository institution or to any non-commercial checking account or other similar non-commercial account.

Two paragraphs above that is this tidbit, I think it's the $25 limit:

Any person who issues a check or other draft that is not honored upon presentment because the drawer does not have an account with the drawee, or because the drawer does not have sufficient funds in his account, or because the drawer does not have sufficient credit with the drawee, shall be liable in the amount of $25, or for all costs and expenses, including reasonable attorney's fees, incurred by any person in connection with the collection of the amount for which the check or other draft was written, whichever is greater, and shall be liable for interest upon the amount of the check or other draft at the rate provided in subsection (1) of Section 4 of the Interest Act. Costs and expenses shall include reasonable costs and expenses incurred in the nonlitigated collection of the check or other draft.