New Debit Card Overdraft Fees: Simpler, but Still Expensive

There’s good news and bad news for consumers as banks comply with new Federal Reserve rules for overdraft fees.
The good news: Banks are simplifying their complicated overdraft fee structures, according to a June survey of the 15 largest banks by the Consumer Federation of America.
The bad news: Many are eliminating their lowest fees. The consumer [...]

Checking Account Overdraft Protection: Would You Pay $30 for a Latte?

If you run your checking account close to the line, it’s time to decide how to handle overdraft protection, or you could find yourself stammering at the cash register unable to pay.
Under a new Federal Reserve rule going into effect this summer, you have to “opt in” for the ability to overdraw your account with [...]

New Financial Applications Available on the Apple 3G iPhone

Top 5 Financial Applications from Apple iTunes Store

1. Bank of America
The mobile banking application from Bank of America allows users to check available balances, pay bills, transfer funds or locate ATMs and banking centers from their PDA or smartphone. The application is far superior, both in security and in convenience, than attempting to navigate the [...]

Bank of America’s Defender of Wildlife Program

Bank of America has partnered with the non-profit organization Defenders of Wildlife to help save wildlife across the planet. Bank of America makes a $10 donation to Defenders of Wildlife when a Bank of America checking account is opened and will donate an additional one cent for every $10 of purchase made on your debit [...]

Do You Need an Apple iPhone or iPod Touch for Mobile Banking?

Large banks like Bank of American and Wachovia Bank have been promoting the ability to access your accounts using the Apple iPhone or iPod Touch. While the banks may be jumping on the Apple bandwagon in anticipation of an announcement of a new Apple 3G iPhone, consumers should be that mobile banking can be conducted [...]

Bank of America’s Excellent Savings Program

Bank of America’s Keep the Change Promotion has been around since 2005, but is worth taking another look at especially after Bank of America has announced that over 8 million customers are enrolled in the program. The promotion allows customer enrolled to have every purchase made with a Bank of America Check Card to be [...]

Bank of America a "Go" to Purchase Countrywide Bank

Bank of America Corp. stated it’s committed to buying Countrywide Financial Corp which includes Countrywide Bank. “Everything is a ‘go’ to complete this transaction,” Bank of America Chief Executive Officer Kenneth Lewis said at an investor conference today, in reference to Countrywide. Depositors at Countrywide Bank will become customers of Bank of America when the [...]

Bank of America’s Risk Free CD

Bank of America is offering a CD which allows investors to withdraw funds prior to the maturity date without incurring a penalty.

Account Features:
* The ability to withdraw funds prior to the maturity date without penalties
* A minimum deposit of $5,000 and a short 9 month term
* A rate you would typically expect from a [...]

Bank of America’s 5.70% Money Market Savings Account

Bank of America is offering a money market savings account with a 5.55% rate and 5.70% APY through their Defenders of Wildlife charitable contribution program which in itself is a program that they inherited from their acquisition of MBNA Bank. This promotion is nearly hidden on their site, but visitors to The Savings Investor have [...]

Bank of America’s Keep the Change Promotion

Bank of America’s Keep the Change Promotion rounds up every Bank of America check card purchase made by cardholders and then transfers the difference to a Bank of America savings account. Bank of America will match the amount transfered for the first three months and thereafter will match 5% a year. The maximum total that [...]

Bank Stocks with +3% Dividend Yields

Banks traditionally have been one of the best sectors for finding dividend-paying stocks. The five largest banks in the country all pay dividends and trade with yields comparable to U.S. Treasuries or other fixed-income securities:
Citigroup (C) 4.09% yieldBank of America (BAC) 4.49% yieldJP Morgan Chase (JPM) 3.03% yieldWachovia (WB) 4.26% yieldWells Fargo (WFC) 3.13% yield
Bank [...]