In 2013 the Federal Deposit Insurance Corporation found that U.S. commercial banks took in about 32 billion dollars in bank fees. Crazy as it may sound 32 billion is actually significantly less compared to 2009 when banks collected more than 40 billion in bank fees. Don't let this decrease mislead you because certain checking fees like [...]
The words free and checking are rarely used in the same sentence by banks anymore. According to Greg Mcbride of bankrate.com accounts still called "free" have dwindled from 76% of all checking in 2009 to about 39%, and will grow scarcer. Wells Fargo, operator of the U.S.'s largest branch network, has dropped free checking. Instead [...]
There are numerous ways to conduct your banking today. This makes choosing the best option an important step to saving more money. Finding a bank with lower fees can possibly save you hundreds over the course of a year. On average online banks have lower checking account fees compared to traditional banks. If you prefer [...]
It is pretty rare to find a bank these days that does not offer online banking in some capacity. Technology has changed the way we bank. It can be a huge convenience for those days when the last thing you want to do is run to the bank to deposit a check or transfer money. [...]
Overdraft protection is a service designed to benefit consumers that have overdrawn their checking account. If you tend to carry a lower balance in your account overdraft protection can help you save a lot in overdraft fees. Before setting up overdraft protection at your bank it’s important to see if there are any hidden fees [...]
All bank fees are frustrating but there are a few that top the list. TD Bank recently conducted a survey of 3,000 checking account customers at various banks throughout the country. They found that non-bank ATM fees were ranked most frustrating by 38% of respondents. That’s the fee you get when you withdraw money at an [...]
The Dodd-Frank Wall Street Reform Act was signed into law back in 2010. The Act has helped consumers avoid being charged a hefty overdraft fee for making small dollar purchases if you “opt-out” at your bank. Unfortunately what it's also done is caused banks to raise fees for other services, and create new ones to make up [...]
