Under Duress, a Big Bank Finally Starts Treating Customers Better
After a series of moves designed to punish customers in the name of improving profits, some banks may finally be getting the message that enough is enough.
After a series of moves designed to punish customers in the name of improving profits, some banks may finally be getting the message that enough is enough.
It's call remote deposit capture technology, and you've probably seen it advertised: Snap a smartphone picture of a check, send the image to the bank, and your deposit gets credited. Easy. And while only 3% of banking customers use it now, it could be the killer app that lures most of us into online banking.
When bankers come up with a new wonder product, it's rarely good news for consumers. JPMorgan Chase's new "Liquid" card is no exception. This reloadable debit card for the poor is loaded with fees.
On Tuesday morning, my wife and I discovered our Chase Bank account had been hacked. By that afternoon, I realized we were part of something much bigger. But even a data breach that affected up to 1.5 million accounts is only the tip of the bank fraud iceberg.
Imagine that the worst does happen again: A major attack. Chaos and disorder. Banks could be closed, ATMs down. Electricity could be out. Your credit cards? Suddenly useless. So how much money -- good old folding cash -- do you need to be able to put your hands on to get through the aftermath?







