With the average cost of most checking account fees on the rise many think that banks should be required to disclose their fees online at all times. Unfortunately that's not the case! According to the Truth in Savings Act created in 1991 banks are only required to make fee information available to a consumer upon [...]
It’s no big secret that consumers love to use plastic in the U.S. to make their purchases. According to creditcards.com in 2012 the total number of credit card transactions in the United States was just over 26 billion with the average cost per transaction at $94. It never hurts to make sure you are carrying some cash [...]
More and more banking services are available online to consumers making it easy to stay away from your bank's branch, but is that really a good thing? At some point in your life you will need to lend money from your bank for your first home, to purchase a car, or to start your own business. [...]
As the largest city in the Midwest Chicago ranks high for a number of different reasons including food, culture, and sports. When it comes to banking Chicago ranks high for another reason, and its for having lower consumer checking fees than most Midwest cities. We researched several cities in America’s Breadbasket to see which banks have [...]
Checking Account Fees are a real nuisance to many consumers today. One of the most hated bank fees that continues to rise in cost is the overdraft fee. It is now at a national average of $32 according to bankrate. The good news is there are still some banks out there with fees that are [...]
Consumers in their 20's and 30's are aware of rising costs associated with having a checking account at most traditional banks. They are looking for more affordable ways to bank. A recent survey by FindABetterBank asked consumers why they chose to look for a new checking account and found that the second highest reason for [...]
No one plans on overdrawing their checking account especially with the average cost of an overdraft fee now over $30. Things don’t always go as planned and sometimes you have to pay for an unexpected bill or expense that puts your account balance below zero. If you do happen to overdraw your account it’s not [...]
If you recently tried to stop an unwanted debit from hitting your checking account you were probably surprised by the cost of the stop payment fee. Many bank’s stop payment fees are now the same as or close to the cost of an overdraft fee, which has continued to rise the last few years to a [...]
According to the FDIC there was a total of 18 bank failures in 2014 which was a significant decrease since the peak of the recession in 2010 when there was a total of 157 failures. Illinois had the highest number of bank failures last year with 5. With the banking industry starting to show signs [...]
A recent poll by gobankingrates found that the No.1 reason (45%) of consumers polled claimed that a bank’s fee structure was more important than rates and customer service combined. Today more then two-thirds of all bank accounts have some kind of fees associated with them. Also any one checking account has an average of 30 [...]
