debit card fees

Is Your Bank Killing Free Checking?

Wells Fargo stopped offering free checking to new customers in 2010, but if you already had it, they didn't take it away. Now, it's introducing a $7 monthly charge in six (thus far, unidentified) states for customers with those formerly free checking accounts.

2011 in Business: 7 Stories That Affected You Most

Between debt ceiling debates, the crisis in the eurozone, and battles over tax rates, money issues filled the front pages in 2011. Here are our picks for the seven stories that most directly affected your wallet.

How a Debit Card Fee Cut Backfired on Merchants

Washington's efforts at financial reform keep having strange and unintended consequences. In response to a law that was meant to lower excessive debit card transaction fees on merchants, Visa and Mastercard found a way to raise the fees on a host of small businesses.

5 Financial Turkeys of 2011 (and a Side of Stuffing)

At Thanksgiving, we remember the year's blessings and declare hope for the future. But if you're having a hard time swallowing that this year, we offer this recipe for cooking up 2011's most egregious financial news stories. Bon appetite!

Resentment Builds Ahead of Bank Transfer Day

On Saturday, tens of thousands will march, protest and move their money out of big banks. But plenty of Americans haven't waited for Bank Transfer Day. For Frank Sheldon of Seattle, his journey to a credit union started in 2008 when his old bank was absorbed by J.P. Morgan Chase.

Why Bank of America Will Never Be Great Again

Bank of America did the right thing this week, nixing its notorious $5 a month debit card fee before it began. But B of A can't win, and even now, financial journalists are wondering how it will find ways to nickel and dime its way back from this week's fee retreat at the expense of its customers.

Battered Bank of America Kills Debit Card Fee Plan

Is Occupy Wall Street working? Bank of America announced on Tuesday that it's dropping its plan to charge a $5 monthly fee to customers who use debit cards for purchases. "We have listened to our customers very closely over the last few weeks" said a top bank official, explaining the reversal.

Banks Back Away from New Fees, Eye Cost Cuts

The financial world's fee fever may have abated -- for now. Several big and medium-sized banks say they're not implementing fees for debit card use anytime soon. But with bank revenues slipping, they do need to act, and more are considering cost cuts to repair their bottom lines.

Beyond Card Fees: Banks Look To Sell Your Data

New and higher debit card fees may not be enough to satiate the big banks. Financial institutions looking for more revenue are now eyeing another potential source of money: Selling your debit-card transaction data to marketers. So which is worth more to you: The deals such targeted advertising will bring, or your privacy?

Some Whole Foods Stores Stop Accepting Paper Checks

If you're one of the many people planning to start using more paper checks to avoid incurring a monthly debit-card fee, think again. While many merchants continue to accept paper checks, some are moving in the opposite direction, among them national grocery store chain Whole Foods.

Bank Fees Push More Americans to Credit Unions

Big Wall Street banks haven't been winning many fans lately with their new fees and constant search for loopholes in the Obama administration's consumer protection laws. Bank of America's new fees on debit cards could be the last straw for some. The alternative many Americans are turning to: credit unions.

A 5-Step Plan for Dumping Your Bank

With some of the biggest banks raising fees again, many Americans are seriously considering finding new places to keep their money. But with direct deposit and automatic bill pay, moving your checking account can be complex. We talked to a pro for this easy five-step process to handle your bank swap.

Bank Overdraft Fees Still Plague American Consumers

Last year, the government changed the rules on debit card overdrafts, requiring banks to get customers' permission before allowing transactions that would lead to penalty fees. But despite the new rules, overdraft fees continue to be an expensive pain in the neck for millions of Americans.