Bank Of America Following Chase’s Lead, Joining Card-Free ATM Party

Bank Of America Following Chase’s Lead, Joining Card-Free ATM Party

Just days after Chase announced it would install cardess ATMs offering a variety of denominations, Bank of America says it will also jump on the card-free bandwagon.  [More]

This is just a regular Chase ATM, not a new one. (TheTruthAbout)

Chase To Install Cardless ATMs That Offer A Variety Of Denominations

Bank customers weary of using ATMs for fear they’ve been compromised by ne’er-do-wells using skimmers to get their hands on card numbers have a new option. That is, if they bank with JPMorgan Chase, as the company is rolling out new cash machines that are not only cardless, but will let you take out money in a wider variety of denominations.  [More]

(Mike Mozart)

Safeway Says No Payment Data Stolen From California Stores, Only Colorado

There’s potential good news out of Safeway: while the company confirmed that they found skimmers in credit card payment terminals in two states, a spokesperson says that the baddies didn’t harvest any customer data from the stores in California. Instead, the grocer found them back in September while inspecting terminals. While it’s good news that customers didn’t walk up to an ATM only to find their bank accounts drained, it’s still worrisome that someone was able to install the skimmers in the first place. [More]

(George)

Colleges Warned About Making Secret Deals With Credit Card Companies

In spite of rules intended to crack down on the once-rampant mis-marketing of credit cards to college students, some schools have not been fully transparent about lucrative agreements they’ve made with card companies, and could face federal penalties. [More]

(dirtyblueshirt)

Netflix Thinks You’re Letting Your Subscription Lapse When Your New EMV Payment Card Arrives

You are, presumably, a financially responsible adult, or aspire to become one. Yet it’s easy for even the most financially responsible grown-up to forget to change everything over when you receive a new credit or debit card. As banks are supposed to replace all of our cards for the EMV changeover, our forgetting to update the cards on our Netflix accounts is actually affecting the company’s profits. No, really. [More]

Average ATM Fees Hit Record High Of $4.52, Up 21% Over 5 Years

Average ATM Fees Hit Record High Of $4.52, Up 21% Over 5 Years

If you think you’re being bled dry more quickly by ATM fees, you’re probably not imagining things. A new survey shows that the cost of getting money from an out-of-network ATM has risen 21% over the last five years and the national average is now higher than $4.50 per transaction. [More]

(Payton Chung)

Jewel-Osco: Payment System Outage Could’ve Caused Multiple Charges On Customers’ Cards

If you shopped at Jewel-Osco recently and used your credit or debit card to pay, you might want to check your accounts and make sure you weren’t charged multiple times for one transaction: the grocery chain confirmed on Monday that its payment system suffered a glitch that could’ve caused some customers to be overcharged for their purchases. [More]

AmEx Introduces Prepaid Debit Card With Rewards For Spending

AmEx Introduces Prepaid Debit Card With Rewards For Spending

Now that its retail partner Costco has moved on to different credit cards, AmEx is apparently looking for some new customers who are a little downmarket from their old ones. Like its pal Bluebird, the card is reloadable and can even accept direct deposits from your employer. It offers one extra thing as an incentive to go prepaid: cash-back rewards like a credit card. [More]

(frankieleon)

Choosing The Wrong Prepaid Debit Card Can Cost You Up To $500/Year In Fees

While prepaid debit cards have long been criticized for having too many fees (and for being less than transparent about those fees), the impact of those fees will largely depend on how you use a particular prepaid card. Choosing one that’s ill-suited to your needs could cost you hundreds of dollars a year in fees that you didn’t need to spend. [More]

(Santos "Grim Santo" Gonzalez)

Chase Says It Will Replace All Debit Cards With Chip-Enabled Cards

After an earlier report that it would do so, JPMorgan Chase says it’ll be reissuing debit cards for all its customers, replacing the old magnetic strip cards with those containing microchips for increased security. [More]

(JeepersMedia)

Sally Beauty Looking Into “Unusual Activity” On Payment Cards At Some U.S. Stores

In what has become an unfortunately familiar experience, yet another retailer is announcing that it might’ve been the victim of a potential data breach: Sally Beauty confirms that it’s investigating “unusual activity” involving payment cards at some of its U.S. stores. This, a year after a breach that affected tens of thousands of customers. [More]

(Listener42)

Student IDs That Double As Debit Cards Carry Significant Overdraft Fees

The cozy relationship between institutions of higher education and credit card issuers has come under increased scrutiny in recent years as consumer advocates and legislators have debated whether or not products like student IDs that double as credit or debit cards provide an actual benefit to students or if they’re just a way for schools and banks to rake in the big bucks. According to a new report from the Center for Responsible Lending, the excessive overdraft fees surrounding the use of the cards suggest the latter point. [More]

(Nicholas Eckhart)

Meijer Offering $10 Coupon To Customers After Two Credit & Debit System Failures

Meijer is trying to win back customers with an apology and a $10 coupon, after customers were forced to either pay cash or abandon their shopping carts two days in a row last month. The retailer suffered two credit card system failures, two days in a row, that kept shoppers from paying for their goods with credit or debit cards. [More]

(Mike Mozart)

Supreme Court Refuses To Hear Retailers’ Complaints About Debit Card Swipe Fees

More than four years after the Dodd-Frank banking reforms directed the Federal Reserve to set a standard for swipe fees — the money charged to retailers by banks for each debit card transaction — the hotly debated issue appears to have hit a dead-end with the U.S. Supreme Court deciding this morning to not hear an appeal from retailers who contend the Fed set the fees too high. [More]

(Mississippi Snopes)

CFPB: College Credit Card Agreements On Decline; Debit, Prepaid Card Agreements Increase

Since Congress passed the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act in 2009, the cozy relationship between credit card issuers and institutions has fractured. But while the number of agreements between the two entities has declined drastically, that doesn’t mean banking on campus has gotten any safer for students. [More]

Restaurant Accidentally Overcharges Customers Anywhere From $8K To $99K

Restaurant Accidentally Overcharges Customers Anywhere From $8K To $99K

Some Knoxville, TN, residents are fuming mad at a local chain restaurant after seeing that their debit and credit cards have been charged 1,000 times what they should have been for their meals, leaving people in the red for anywhere from $8,000 to $99,000. [More]

Nearly 2 Of 3 Millennials Don’t Have Credit Cards

Nearly 2 Of 3 Millennials Don’t Have Credit Cards

Millennials — those Americans currently between 18 and 29 years of age — never really lived in a world without debit cards, when the only way to make a non-cash purchase was to use a credit card or hope the store accepted personal checks. So it may come as little surprise to some that nearly two-thirds of the consumers in this age group don’t have a single credit card to their names. [More]

(Aubrey Arenas)

Couple Accused Of Stealing $16K By Exploiting Debit Card With Magically Increasing Balance

To my knowledge, there has never been an established, official “opposite day,” whereby spending money on products you actually magically increase how much money you have, much less an “opposite bunch of months” where this happens. So when a couple using a debit card that made them richer with every purchase realized what was happening, the legal thing to do would’ve been to pipe up. [More]