What would you do if I told you that Ally Bank or ING Direct were offering an awesome *NEW* account? What are the awesome terms, you ask? (- 2%) Regardless of how much you put into this new account, you're guaranteed to lose 2% each year. Who, on Earth, would invest their money in such an …
banking
Convenient Banking Technology
Banking used to be an incredible hassle. I hated going to the bank, waiting in line, making sure that your forms or deposit slip was filled out properly, being lectured by the teller if it wasn’t, having to deal with specific hours…the list goes on and on. However, every year there seems to be new …
Understanding FDIC Insurance
Nobody likes to lose money. Unfortunately, between 1929-1933 many innocent investors lost loads of cash due to a series of bank failures. Because of this, the Federal Deposit Insurance Corporation was established. In 1934, the insurance limits began at $2,500, rose to $40,000 in 1974, and have since …
Interest Rates Are Irrelevant (For Most)
I was having a conversation with a friend of mine that I need to share with you. She currently has 3 bank accounts spread out among 3 different banks. Because of a new fee structure, she is looking to consolidate. Her decision is between Bank of America that she's been with forever, a local bank …
I Love Bank of America And Their New Fee Schedule
When you read this title you probably thought I was being sarcastic, but I wasn't. I know a lot of America is outraged over Bank of America's announcement this morning to revise their fee schedule, but I'm not jumping on the bashing bandwagon. I happen to love what they're doing. Remember roughly …
How To Make Your Bank Account Overdraft-Proof
Overdrafts occur when you write a check, use a debit card, or make an automatic bill payment without having adequate funds in your account. The bank may or may not cover the purchase amount (and probably disclosed their policy upon opening the account), but you are left with overdraft fees …
US Government Lays Off 30,000 & Charges $5 Fee
Bank of America announced it will begin charging certain checking accounts a $5 fee for debit card usage. They are actually late to the party as other larger banks (Wells Fargo, Suntrust, Chase) have already announced they’ll be giving away feebies. Most consumers will immediately become outraged …
