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January 28 , 2015 | Posted by primo banks | No Comments

Millennials Make Fees a Priority When Choosing a Bank

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 [...]
January 18 , 2015 | Posted by primo banks | No Comments

Banks That Charge You Daily and Get Away With It

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 [...]
January 11 , 2015 | Posted by primo banks | No Comments

Stop Paying For High Stop Payment Fees

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 [...]
January 4 , 2015 | Posted by primo banks | No Comments

Why A Decrease in Bank Failures is Good for 2015

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 [...]
December 22 , 2014 | Posted by primo banks | No Comments

Few Banks Post Fees Online in 2014

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 [...]
December 13 , 2014 | Posted by primo banks | No Comments

Why The Free Toaster Wasn’t So Bad After All

It wasn’t long ago when banks actually gave out gifts to customers for opening a new account.  A few years back I remember taking advantage of a new checking account promotion that net me my first ipod.  And I’m sure you’ve all heard about getting a new toaster from your local bank back in the [...]
December 5 , 2014 | Posted by primo banks | No Comments

Checking Fees Can Add Up Fast For Anyone

Since 2008 certain changes in bank regulations have helped protect consumers from financial loss.  For a lot of people bank fees are an annoying factor in their daily lives. Unfortunately brick-and-mortar bank fees are not going away anytime soon.  That's why it is important to know how banks apply certain fees before choosing to open a [...]
November 19 , 2014 | Posted by primo banks | No Comments

Local Banks Charge Less in Chicago

In 2014 the Harris Poll found that big national banks have the trust of about 50% of Americans.  Despite big national banks being some of the least trusted they still have the highest percentage of customers at 45%. Why do consumers continue to choose larger banks when local banks can offer much of the same

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November 9 , 2014 | Posted by primo banks | No Comments

It’s Official, Consumers Hate Bank Fees

It's hard to control certain life events, but one thing you can control is where you choose to bank.  If you feel your bank’s checking account fees are getting too high it may be time to switch.  TDBank conducted a poll of 1500 consumers at various financial institutions called the Checking Experience Index.  They found that the [...]