Chase says this about using non-Chase ATMs: “$2 each for any non-Chase ATM withdrawal, balance inquiry or transfer. $3 per ATM withdrawal outside the U.S.” You might think that means it costs $2 in the U.S., and $3 outside. You’d be wrong. [More]
banking
How To Find A Good Local Bank
By 4.12.10
So you’re tired of banking at one of the big, faceless national chains and want to keep your money local? You can try one of the recent sites devoted to the local bank movement, like anewwayforward.org or moveyourmoney.info, or you can follow this Kiplinger columnist’s lead and do it yourself with a little online research. [More]
The Most Reasonable Letter We've Ever Received From A Guy Whose Bank Misplaced $14,000
By 4.4.10
Meet Matt. He’s is the writer of the most reasonable, calm, thoughtful letter we’ve ever gotten from someone whose bank misplaced a check for $14,000. That bank is Bank of America, and they’ve lost a customer. Was it because their ATM ate the check? Not really. It was because they couldn’t even bother to act concerned about it. Matt is ready for a bank that thinks $14,000 is important. [More]
How Do You Keep Track Of Your Money?
By 4.3.10
Considering the number of stories we write about overdrafts, Consumerist reader Adam wanted to know if he was one of the few people left that still keep track of their cash with their checkbook. [More]
Which Retail Bank Has The Best Online Service?
By 3.29.10
Tom is moving here from New Zealand in a few weeks and he needs to find a bank. He writes, “I’ve checked out the major players, but the number one thing that’s turning me off is their online banking systems are horrible! I use online banking A LOT, so this is important to me. In terms of services I’d want, I need a debit card, and that’s about it. Maybe I’ve been spoiled, but this is what I’m used to.” He sent us a screen grab of his current bank’s online presence, and it’s quite attractive (see bigger screenshot below). [More]
Anonymous Protestor Leaves Pile Of Manure In Chase ATM Vestibule
By 3.23.10
Someone who was fed up at Chase made a special deposit on the floor of one of their ATM vestibules in NYC a couple of days ago. Fortunately for the clean-up crew, it looks like it was manure and not actual human poop. [More]
Fed Chairman Says "Too Big To Fail" Banks Should Have "Living Wills"
By 3.22.10
Ben Bernanke doesn’t like systemic risk! Shocking, we know. In a speech he gave in Orlando, Florida, the Chairman expressed outrage at the bailouts of too big to fail companies and said shareholders should not be sheltered from losses. [More]
Credit Unions Ask Customers To Leave
By 3.16.10
Credit unions might be attractive alternatives to big commercial banks, but they’re not crisis-proof. OregonLive says about a fifth of the nation’s credit unions are having financial troubles right now. To get in better financial health, they’re introducing fees for services that have long been free, and even asking members to move their deposits to other institutions. [More]
Chase Tells 44-Year Customer He Fits Fraud Profile, Stole $6200 From Himself
By 3.7.10
Over at the Huffington Post, retired teacher Ernest Nitzberg blogged about the experience that made him sever his 44-year banking relationship with Chase. He writes that Chase accuses him of using a debit card that he was never issued to buy $6200 worth of merchandise that he was unlikely to want or need. Makes perfect sense to us, too. [More]
Magical USAA Check-Depositing Smartphone App Now Available For Android
By 2.24.10
Do you envy iPhone users’ ability to deposit checks in their USAA accounts by snapping a picture and using a fancy secure app? Now, check-zapping abilities have been granted to phones using Google’s Android mobile operating system. [More]
FDIC: This "Troubled Bank" List Is Getting Ridiculous
By 2.23.10
The Federal Insurance Deposit Corporation announced today that it had added 450 more banks to its troubled bank list. The list is secret, because announcing that a bank is in trouble is a good way to kill it for good. [More]
Citibank Freaks Out Customers With Weird 7-Day Rule On Withdrawals, But It's Not As Devious As It Looks
By 2.22.10
Some Citibank customers recently received notice that the bank reserved the right to require 7 days written notice before authorizing a withdrawal on checking accounts. (It’s also on page 23 of Citi’s Client Manual [PDF].) As you can imagine, this freaked some people out. A Citibank rep quickly moved to clarify the rule, and he pointed out that it’s actually required by federal law for certain types of accounts, and it’s not unique to Citibank, and they don’t intend to enforce it. [More]
What Changes Should You Expect From The CARD Act?
By 2.22.10
After several months of waiting (during which, banks have had plenty of time to jack up your interest rates and cut your credit limits), the Credit CARD Act of 2009 has finally kicked in. If you haven’t been following the news, here’s a quick run-down of what’s changed and what hasn’t. [More]
Remember To Use Your Credit Cards Occasionally Or The Bank Will Close Them
By 2.19.10
We regularly get letters from people who are upset that their bank “unilaterally” closed a credit account they hadn’t used in years. They’re always quite surprised that the bank can do this, and usually want to get their accounts back. Unfortunately, that’s not how it works. You really do have to use your account occasionally to keep the bank from closing it. [More]
Wachovia Tricked Me Into Overdrafting
By 2.15.10
Sean is accusing Wachovia of using tricky online transaction posting that makes it difficult to tell when you’re in danger of slipping into the red. He says that although his account never appeared to be overdrawn, but he was still hit with overdraft charges thanks to funny accounting. He writes: [More]
Survey Indicates We All Distrust Big Banks
By 2.10.10
This may come as a surprise to exactly no one, but it looks like most customers of big national banks are less likely to believe their banks are trustworthy, according to a new Forrester poll. Even less surprising: the same poll is done every year, and it’s always the same big banks at the bottom of the list. A Forrester VP explains, “They are public institutions who are in business to make money for their shareholder and inevitably, that shows to customers.” [More]
Citibank Postpones New Checking Account Fees For Newer Customers
By 2.2.10
New York Attorney General Andrew Cuomo got Citibank to agree not to implement its new monthly fees on formerly free checking accounts, at least for some customers. If you signed up for one of Citibank’s EZ Checking or Access Checking accounts between January 1, 2009 and November 5, 2009, the new monthly service charge will be waived until this time next year. If you’re one of those customers, there’s nothing you have to do–you’ll get a notice in the mail from Citibank. [More]
