It hasn’t even been a month since our last dead Bank of America customer story, but here the bank is at it again, refusing to let a woman’s son close her checking account no matter what he does. Although she lived and banked in Tennessee and he lives in Pennsylvania, the latest nonsense has the bank demanding that he visit Texas in person to get a document notarized. [More]
Bank Of America Wants Customer To Travel 1,500 Miles To Close His Mother's Account
By September 14, 2010
How To Switch Banks Without Screwing Stuff Up
By September 7, 2010
Switching banks is like going through a divorce. Lots of paperwork, hurt feelings, twinges of regret and the shaky knowledge that if you press on you’ll end up in a better situation afterward. [More]
An Easy Way To Get Wells Fargo To Remove A $30 Fee
By August 17, 2010
Joe says Wells Fargo stuck him with a $30 fee because his accounts fell below a minimum threshold. A one-sentence email whipped the bank into shape and got it to rescind the charge. [More]
21 Banks And Credit Unions That Accept Remote Check Deposits
By August 8, 2010
Why trek to local bank to deposit a check when you can slap it on a scanner or use your smartphone’s camera to upload it directly to your bank? Even though it still scares most of the bigger banks, remote deposit checking represents the future of consumer banking. Inside, a list of twenty-one credit unions and banks that are ready to save you a trip to the bank and the hassle of deposit slips. [More]
Chase Banker: I Hate That We're Required To Pull People Out Of Line To Offer Upsells
By July 31, 2010
Chase now requires bankers to drag customers waiting for a teller out of line so they can upsell other bank products. One longtime banker wrote in to apologize for the practice, which “blatantly exploits a customer’s trust,” and to encourage customers to call Chase and tell them that they hate it, too. Read the banker’s full heartfelt note, after the jump. [More]
Chase Concierge Grills Me About Why I Bank With ING
By July 28, 2010
All Kristen wanted to do was make a deposit into her checking account at a Chase bank in Washington State, but she says a pushy concierge pulled her out of line and gave her the third degree about why she used ING rather than Chase as her primary bank. [More]
Rejoice Penguins, Wells Fargo Has An ATM In Antarctica
By July 24, 2010
Wells Fargo is the undisputed leader in Antarctic banking thanks to a pair of ATMs at McMurdo station. Despite the monopoly, the bank acts as a benevolent despot by allowing non-customers to draw cash without a surcharge. But who replenishes the stock of $20s? What happens when the ATMs break? Wells Fargo VP David Parker explained it all in a recent interview. [More]
Obama Signs Off On Financial Reform Bill
By July 21, 2010
After months of debate and compromises that left some members of both parties less than thrilled, President Obama signed the financial reform bill into law this morning, which means that all problems with all banking is fixed forever… right? [More]
Consumer Advocate Says Protection Agency Should Be Like Harvard's Elizabeth Warren
By July 19, 2010
Jeff Sovern at Public Citizen has a simple message for the Washington bureaucrats who will soon create the new Consumer Financial Protection Agency: Put Elizabeth Warren in charge and build the agency in her image.
Why Elizabeth Warren, you ask?
Financial Reform Bill Passes Senate, 60-39
By July 15, 2010
Two weeks after finally getting through the House of Representatives in a heavily edited form, the financial reform bill was passed by the Senate earlier today by a vote of 60-39. [More]
HSBC Helping Out Mail Thieves By Sending Out Pre-Activated Debit Cards
By July 6, 2010
Legitimate businessmen aren’t the only ones who need stimulus packages to get their games rolling again. Dudes who dig through peoples’ mail and steal debit cards can also use a little loving. HSBC understands this fact and is helping out by sending out pre-activated debit cards, Knowzy reports. [More]
Wells Fargo Must Hate My Married Name Or Something
By July 6, 2010
Jennifer has banked with Wells Fargo since 1996, and thinks the bank must have gotten so used to her maiden name that it refuses to acknowledge her married name. No matter how often she’s complained, Wells Fargo refuses to acknowledge the name change on all her accounts and keeps sending her cards with her former moniker. [More]
Banks Must Now Ask You To Opt In To Debit Card Overdraft Plans
By July 1, 2010
If you’re opening a new bank account today, don’t be surprised if you’re asked to enroll in an overdraft plan for debit-card purchases. And don’t be afraid to say no, either. Today’s the first day that banks have to ask your permission to enroll you in such plans; yesterday, they could have just signed you up automatically. If they did, though, you can still back out. Existing bank customers must opt in no later than August 15th if they want to keep their overdraft “protection.” [More]
FDIC Says Pilot Program Offers Alternative to Payday Loans
By June 25, 2010
The FDIC has announced the results of a two-year pilot program designed to help banks offer alternatives to payday loans that would be “safe, affordable and feasible.” Under the test program, participating banks offered loans of up to $2,500 at maximum interest rates of 36% — instead of the 400% offered by some payday lenders. [More]
Mortgage Rates At All Time Low, But You're Not Buyin' A House
By June 25, 2010
Freddie Mac recently announced that rates for a 30-year mortgage fell to 4.69%, the lowest level since they started keeping track. [More]
I Have $132 In Overdraft Fees After Bank Cashes Post-Dated Check
By May 25, 2010
A Consumerist reader wrote into us today to tell us how he ended up with $132 in overdraft fees, not because he went on a spending spree and didn’t manage his finances correctly, but because his eager beaver roommate went ahead and deposited his post-dated rent check almost a full week early. [More]
Fix Mortgage Errors By Promising The CSR "Phone Fun," At Least At Wells Fargo
By May 24, 2010
According to a lawsuit filed in New Jersey, a CSR at Wells Fargo’s Home Mortgage Division refused to correct a payment error for Jamie Nelson unless she had some “phone fun” with him first. Phone fun, in this case, seemed to mean naked pics of the woman. She’s suing for emotional distress, since you can’t take someone to court simply for being a skeevy jackass. Wells Fargo says they’re taking the allegations seriously. [More]
Gold-Dispensing ATM Converts Pesky Cash To 24K Bars
By May 13, 2010
Next time you’re in Abu Dhabi and have to get some gold in a hurry (and we’ve all been in that situation, right?), you can just drop in to the Emirates Palace hotel, pop a few bills into the ATM and walk out with gold bars. The machine, Gold To Go, monitors gold prices and automatically updates its pricing every 10 minutes. [More]
