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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 [...]
October 31 , 2014 | Posted by primo banks | No Comments

Banks Continue to Collect Billions in Fees

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 [...]
October 21 , 2014 | Posted by primo banks | No Comments

Does Free Checking Still Exist?

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 [...]
October 15 , 2014 | Posted by primo banks | No Comments

4 Steps to Follow When You Decide to Switch Banks

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 [...]
October 4 , 2014 | Posted by primo banks | No Comments

Overdraft Protection Can Come With A Price

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 [...]
September 25 , 2014 | Posted by primo banks | No Comments

ATM Fees Among Most Frustrating For Consumers

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 [...]
September 23 , 2014 | Posted by primo banks | No Comments

Chicago Banks Rank Better for Wire Fees

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 [...]