3 Easy Ways to Avoid Overdraft Fees
Overdraft fees and other insufficient funds charges are taking a big bite out of our wallets. Here are three easy strategies to help you avoid handing that cash to your bank.
overdraft fees
CFPB: Opting for Overdraft Protection Means Higher Fees
The government says consumers who opt for overdraft coverage on checking accounts pay higher fees and are more likely to have their accounts closed than those who decline it.
Checking Account Check-Up: How Does Your Bank Rank?
When it comes to checking accounts, all banks are not created equal -- but which one has the best policies for you? The Pew Charitable Trusts has some answers.
10 Signs You're Heading for a Money Meltdown
We all want to avoid facing hard financial truths sometimes, but ignore these 10 warning signs of an impending money disaster at your own peril.
Daughter Gives Bank Real Proof of Dad's Death: His Ashes
A grieving daughter pestered by Royal Bank of Scotland over a charge on her late father's account went to extremes to demonstrate to the bank that he really was dead.
Sandy Gives Big Banks Some Humanity
The worst recession in decades wasn't enough to make big banks relent in their pursuit of income, but Hurricane Sandy apparently gave them pause: Several banks have stepped up to make things easier for their customers during their current time of need.
The Most Costly Mistake You Can Make With Your Bank Account
There's nothing more expensive than spending money you don't have. That, of course, is a lesson you might learn the hard way if you carry a balance on a high-interest credit card. But spending beyond your means can be a pricey proposition even with a debit card.
Big Bank Fees Are on the Rise: 3 Ways to Chop Those Charges
A recent survey from Bankrate confirms what most bank customers already know: Bank fees are on the rise. Still, consumers are not defenseless. A few simple moves can save you from having a ton of cash sucked away by surcharges.
Bank Fees Further Erode Free Checking Accounts
Truly free checking accounts are becoming rarer as banks add more fees to boost their profits. Among other fees, the average monthly service fee on checking accounts is a record $5.48, up 25 percent from the Bankrate survey a year ago.
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.
Who Treats the Cash-Strapped Worse Than Payday Lenders?
Your bank, that's who: Despite payday lenders' well-deserved reputations for charging insanely high rates for the short-term loans, if you overdraft your plain-vanilla bank account, you'll get zapped by an even more usurious system.
Banks Made Less on Overdraft Fees Last Year
The average fee for overdrafting your bank account rose again last year, but evidently, more Americans are doing a better of job managing their checking accounts, because the amount paid in overdraft fees dropped by $1.5 billion in 2011, after a $4 billion drop in 2010.
BofA Settles Overdraft Fee Suit for $410 Million
More than 13 million Bank of America debit-card customers could see some repayment for excessive overdraft fees the bank charged them over the course of a decade. A federal judge has approved a $410 million settlement to compensate customers who were charged fees as a result of the bank posting transactions from highest to lowest dollar amount, rather than in the order they occurred.
Cash-Strapped Americans Can't Break Overdraft Habit
Overdraft fees are like a movie monster that just won't die. No amount of public outrage or regulation can slay the beast. But the banks aren't the only ones casting overdrafts in financial sequels: Truth is, consumers keep breathing life into the overdraft dragon.
Overdraft Fees Remain High Despite Fed Rules
A year after the Federal Reserve enacted new rules to rein in abusive bank overdraft practices, fees remain high and some institutions actually have slapped on additional penalties, according to a new survey by the Consumer Federation of America.
Free Checking Lives, With Sneaky Fees
You might assume that free checking is one of those banking benefits on the way out, but that's not the case: More than a third of checking accounts charge no monthly service fee. But that doesn't mean that banks don't expect to profit from your checking business. Here are the fees that make "free" a highly inappropriate designation -- and how you can avoid them.
How to Keep Banks From Ripping You Off
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.
Top Tips on Choosing the Right Bank for You
Picking a bank is a lot like selecting a new paint color for your kitchen. You're going to see a lot of it, and while you can always change your mind if you don't like the one you've chosen, it's a hassle. We asked the experts for advice on how to choose the one best suited to your needs.
Buyers Beware: Business Credit Cards Are a Bad Deal
When the Credit CARD Act of 2009 was enacted, the goal was to make credit cards safer for people, but banks have found a loophole. Those consumer protections weren't extended to cards designated for business or commercial use, and as a result, millions of American households are at risk from the same unfair bank practices as before.
How 'Short-Term' Payday Loans Cause Long-Term Woes
A new report from the Center for Responsible Lending paints a seriously depressing picture of the damage the payday loan industry wreaks on its customers. What's worse is that the report actually understates the grim reality facing payday borrowers today.
Goodbye, Free Checking; Hello, New Bank Fees
The era of free checking accounts is coming to an end. Many consumers will face an extra $144 a year in account fees, plus higher dues for their debit cars, and increased ATM charges, too. It's all part of a banking industry backlash against last year's consumer friendly financial reforms.
Consumers May Get Hit With Higher Debit Card Fees
New rules proposed by the Fed for debit card transactions may mean consumers end up paying more to use their cards, while big retailers save billions. The rules would sharply limit the transaction fees sellers pay, so banks could recoup that money from buyers.
How to Tell If It's Time to Switch Banks
The consumer advocates at the Center for Responsible Lending have released a checklist of tough questions people should ask their banks to make sure their needs are being met -- and and to ensure they aren't paying unnecessary fees.
Legal Briefing: Will Banks Have to Refund Overdraft Fees?
A judge ruled that Wells Fargo has to pay its customers restitution for processing checking-account transactions in a way that makes the most charges bounce and maximizes overdraft fees. Other banks have also been sued over this issue.
