Personal Finance Blog By MoneyRates - Checking Account

Why you should care about Bank of America's struggles

January 26, 2011

Find out what affect continuing problems at Bank of America could have on other banks and depositors in general.

Checking accounts receive the gift of extended insurance from the FDIC

December 13, 2010

A temporary lifting of the insurance limit for noninterest-bearing checking accounts creates extra cash flow management options for individuals and businesses.

FDIC issues further guidance on how banks handle overdrafts

November 30, 2010

Starting in July 2011, state-chartered banks will have to take an extra step to ensure their automated overdraft protection programs don't take advantage of customers who can least afford to pay the fees. Under final new guidelines issued Nov. 24 by the Federal Insurance Deposit Corp., banks will have to contact customers enrolled in the [...]

Most say 'no thanks' to debit-card overdraft protection, poll says

November 16, 2010

About one-fifth of consumers say they've signed up for their banks' overdraft protection programs for ATM and debit-card transactions, according to poll results released Nov. 16 by the Consumer Reports National Research Center. The survey was conducted about six weeks after new federal regulations went into effect Aug. 15 requiring banks to get [...]

Online savings accounts and checking accounts grow in popularity

October 5, 2010

A growing number of bank customers prefer to manage their checking and savings accounts online, according to a new survey by the American Bankers Association. For the second year in a row, more customers would rather bank online compared to any other method. This year, 36 percent of survey respondents said they preferred online banking, [...]

Banks expected to make more money next year despite new limits on overdraft fees

September 21, 2010

Banks and credit unions lost at least $6.3 billion in 2009 and 2010 following scrutiny over debit card overdraft fees and new federal regulations requiring them to get customers to opt in for overdraft coverage, says a new study by Moebs Services, a financial research firm in Lake Bluff, Ill. A drop in profitability due [...]

Do you track your checking account with your cell phone? Most consumers remain wary.

September 7, 2010

Although a growing number of consumers are taking advantage of mobile banking, most have yet to use their cell phones or PDAs to manage their checking or savings accounts. The two biggest reasons, says an August report by Javelin Strategy & Research in San Francisco, are concerns about security and a "lack of a compelling [...]

Half of bank customers choose checking account overdraft protection, American Bankers Association survey says.

August 31, 2010

Despite all the advice from personal finance experts to choose inexpensive ways to cover accidental checking account overdrafts, a lot of folks are apparently willing to pay 25 to 35 bucks a pop to ensure their debit card transactions go through when their balances are zero. Almost half of bank customers, 46 percent, said they [...]

Surprising number of debit card holders want checking account overdraft protection

August 10, 2010

Apparently a lot of folks run their checking account balances close to the line. An online July poll by the National Foundation for Credit Counseling found that 26 percent of Americans plan to opt-in for debit card overdraft protection, in spite of the hefty fees involved -- up to $35 each time the balance dips [...]

Banks say consumers will pay the price for pending limits on checking account debit card swipe fees

August 3, 2010

The battle over interchange fees -- the payments retailers make to banks every time you swipe your checking account debit card to buy stuff -- isn't over yet, at least not as far as banks are concerned. The American Bankers Association (ABA) is still fighting the pending fee limit, which was included as part of [...]
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