Wells Fargo became the latest bank to announce a shift in its policy towards overdraft fees on Wednesday, saying it would allow consumers to “opt out” of a programme that hits them with charges of more than $30 when they go overdrawn on their accounts.

The announcement comes a day after JPMorgan Chase and Bank of America announced similar initiatives, and in the wake of pressure on banks by Congress to ease up on the fees tacked on to depositors’ bills.