Best Online Bank Accounts

More and more U.S. households prefer online banking. A 2012 survey conducted by the American Bankers Association (ABA) showed 62% of consumers named online banking as their preferred method of banking. Indeed, even bank customers 55 and older now … [Read more...]

3 Ways to Avoid Banking Fees

Since the enactment of the Credit Card Accountability, Responsibility and Disclosure (CARD) Act in 2009, banks as well as their customers are entangled in continuous struggle. The banks are struggling to find ways to make up lost revenue and bank … [Read more...]

Opt Out of Debit Card Overdraft Fees

Overdraft fees along with non-sufficient funds fees have become a huge source of revenue for banks and credit unions over the last several years. According to the Center for Responsible Lending (CRL), “...banks and credit unions collected nearly $24 … [Read more...]

A growing number of consumers are joining the ranks of the unbanked

Nearly 10 million US households are unbanked. This represents 1 in 12 households in the nation according to a 2011 FDIC National Survey of Unbanked and Underbanked Households. The survey was first taken in 2009 and the current unbanked households … [Read more...]

Banks are the new Airlines: 5 Bank Fees most Consumers do not know about

Banks have introduced new fees as a response to new consumer protections and financial regulations of 2009. Like the airlines, the banks have embraced a new way of doing business…nickel and dime the consumer for as many basic services as possible … [Read more...]

Prepaid Cards fees may be the answer to banks lost revenue

Banks have been exploring ways to recoup lost revenue due to the Dodd-Frank financial legislation of 2009. Prior to the financial overhaul legislation banks collected billions in overdraft, credit card and transaction fees. According to Moebs, an … [Read more...]

Free checking may get harder to find

Financial Reform was enacted to protect consumers from abuses by banks such as high overdraft fees, but the result has caused some banks to end free checking. The income generated by overdraft fees has been curtailed with the passage of the Wall … [Read more...]

Overdraft Fees for Debit and ATM transactions come to an end

On August 15, 2010, the Federal Reserve’s “Regulation E” went into effect which will crack down on banks charging overdraft fees for debit and ATM transactions to existing customers. On July 1, 2010, banks were prohibited from automatically adding … [Read more...]