My, how the times have changed. Ryanair, an airline that once prided itself on tacking extra costs onto fares every which way imaginable, has decided to trim up it image a bit, and is cutting down its collection of baggage fees from 108 — yes, you read that right — to just six. [More]
Overdrafting your checking account might only hit you for $35, but when that happens a few hundred million times each year, it really adds up. A new report estimates that banks in the U.S. are now making $17 billion a year from fees for overdrafts and insufficient funds.
Last year, banks made $11.16 billion from customers who overdrew their accounts with a majority of those overdraft fees going into the pockets of the three largest banks: Wells Fargo, Bank of America, and JPMorgan Chase. There could be more fees headed Chase’s way soon if customers don’t pay heed to the company’s changing overdraft policy. [More]
Last October, thousands of unbanked consumers who rely on prepaid RushCards were unable to access their funds because of a technical glitch. After toying with the idea of creating a compensation fund for those customers, RushCard announced Thursday that it will pay at least $19 million to card users affected by the weeks-long outage. [More]
All American Check Cashing collects approximately $1 million in check-cashing fees each year. But according to federal regulators, the company, which also provides payday loans, obtains those fees through deceptive means, including refusing to tell customers what they will be charged and lying to prevent consumers from backing out of transactions. [More]
Just like you might get annoyed when you have to wait too long for your Uber driver, that driver might be losing money for all the time you dawdle inside because you weren’t ready to be picked up. That’s why the service is testing a new policy that allows drivers to tack on a fee if a passenger keeps them waiting for more than two minutes. [More]
The cost of a yearly Costco membership could be going up in the near future: according to analysts at UBS, the retailer is probably going to raise prices by 10% by late this year or early 2017. [More]
Though you might think of Uber and Lyft drivers as employees of those ridesharing services, the companies maintain that drivers are independent contractors who simply use the Uber or Lyft platforms to connect with passengers. That now means that several thousand of these independent operators in San Francisco must each obtain a business license.
We used to live in a time when some of the only options for buying airfare were over the phone or in person at an airport ticket counter. Technology changed, and many airlines have added fees for those ticket-buying methods. While Delta Air Lines is now turning back the clock and will drop such fees, many of the other major players still tack on extra charges for those ticket-buying options. [More]
Each year during tax time millions of consumers put their financial future in the hands of strangers, trusting that these tax preparers — who are largely unregulated — know the rules, will get them the best possible result (hopefully a refund), and won’t sell them on a product that costs more than it’s worth. But in the world of complicated tax codes and credits, consumers continue to face a long list of risks, including untrained preparers, undisclosed fees, and dangerous refund anticipation products. [More]
In light of today’s attacks in Belgium, several U.S.-based airlines are waiving their typical rebooking penalties and fees for travelers flying from, to, or through Brussels and several other European cities. [More]
Spirit Airlines has long been known as the airline that charges a fee for nearly everything: checked bags, carry-on bags, seat selection, and water, just to name a few. In a change of pace, the budget carrier recently announced it would no longer charge active duty military members fees on some of their bags. [More]
If you own a car that you use to drive strangers around in, it’s a nasty, expensive surprise when one of your passengers vomits up their dinner/night on the town in your car. But one Uber customer says she was hit with a $200 fine for a phantom puking session that never happened while she and her friends were in the car. Instead, she claims the driver faked the whole thing just to collect the dough. [More]
When you sign up for services — some combination of TV, broadband, and/or phone — from your cable company, you’re told you’ll pay something like $49 or $99 a month… and yet the price you actually pay can be 30-40% or more on top of that, thanks to a heap of sometimes confusing charges and fees. Which ones do you blame the government for, and which are made up by your cable company? One cable company at a time, we’re going to use real customers’ bills to break it down. We’ve already looked at Comcast. Up now: Time Warner Cable. [More]
Even though it’s incredibly easy to slap a government agency’s logo on your website, that doesn’t make it okay. Just ask the two debt relief companies that have been ordered to stop using Department of Education logos to mislead student loan borrowers. [More]