What if there was a simpler solution to avoiding an ATM fee than running all over town looking for an in-network machine? One entrepreneur says he's found it: Instead of paying a fee to use an out-of-network ATM fee, Clinton Townsend, the founder of Free ATMs NYC, proposes consumers watch an ad, the New York Daily News reports. Townsend has already installed one of the free ATMs at a New York City music venue.
Practically nobody ever reads the disclosures that came with a bank account, and that's no surprise -- they average 111 pages long. That's way too much fine print, say Sens. Dick Durbin (D-Ill.) and Jack Reed (D-R.I.), who are calling on banks to cut those disclosures down to just one easy-to-comprehend page.
If you decide to switch banks to avoid fees, here's a list of handy reminders to make the transition smooth and complete, courtesy of NetBanker, an online finance and banking website:
Consumers' wallets are really getting the squeeze these days as banks continue to raise ATM and bounced check fees. Meanwhile, the percentage of free checking accounts is on a steady decline, according to a new Bankrate survey.
Banks lost billions in the financial crisis, and now face profit-squeezing regulations. And make no mistake: They're looking at your balance to fix their bottom lines. Here are four ways your bank takes your money, and what you can do to hold on to more of your hard-earned cash.