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Archive for the ‘Banking’ Category

Double-Check Your Ally CDs

Written by Nickel - 7 Comments

Do you own any Ally Bank CDs? If so, here’s a bit of homework for this weekend…
Apparently they had a system glitch of some sort that caused them not to credit interest earned on CDs in 2011 to some customers. There have apparently been a number of reports of this, and they are dealing with [...]

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Published on February 10th, 2012 - 7 Comments
Filed under: Banking
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Stocks are Not Bonds, CDs, or Savings Accounts

Written by Nickel - 5 Comments

With interest rates continuing to hover at historically low levels, investors looking for income are understandably frustrated. Perhaps it should come as no surprise, then, that more people are recommending dividend stocks as an alternative to bonds, CDs, or even savings accounts. See here for an example.
As such articles sometimes (but not always) point out, [...]

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Published on February 10th, 2012 - 5 Comments
Filed under: Banking, Saving & Investing
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Mobile Banking Security

Written by Lisa White - 2 Comments

When is the last time you were inside your bank? It’s probably been awhile. With ATMs and online banking, and mobile banking, there’s rarely ever a need to visit a teller.
And with the growing number of banking apps, we can virtually carry our banks in our pockets and purses. But at what cost?
Mobile banking grew [...]

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Published on December 29th, 2011 - 2 Comments
Filed under: Banking
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Teaching Teens About Checking Accounts

Written by Lisa White - 2 Comments

Part of being a parent is providing our children with the financial knowledge and experience that will help them succeed in life.
Easier said than done, right? When it comes to money matters, it can be particularly difficult determining what age and maturity level is appropriate for handling checking accounts. Is your teen ready for the [...]

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Published on December 6th, 2011 - 2 Comments
Filed under: Banking
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Addicted to Online Billpay?

Written by Nickel - 14 Comments

If you’re anything like me, you pay the vast majority of your bills online. What’s not to love? It’s convenient, and it saves money on postage, check printing, etc.
Well, let me let you in on a little secret… Banks don’t offer these services out of the kindness of their hearts. Rather, they do it to [...]

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Published on November 21st, 2011 - 14 Comments
Filed under: Banking
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The Consumer Financial Protection Bureau: Watching Out for Your Financial Well-Being

Written by Lisa White - 3 Comments

The recent news that banks were planning to charge monthly debit card fees was not well-received by recession-weary Americans. The rising costs of fuel, food and living in general when unemployment is at an all-time high means the timing couldn’t have been worse to hit up our pocketbooks some more.
When will it all stop?
Well, banks [...]

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Published on November 15th, 2011 - 3 Comments
Filed under: Banking, Consumer, Credit Cards
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Ally Bank Offers Remote Check Deposit

Written by Nickel - 10 Comments

Last summer I mentioned that ING Direct was about to roll out the ability for customers to deposit checks electronically. Unfortunately, that still hasn’t happened. Yes, their website still says that “depositing check is about to get a whole lot easier,” but I’m not holding my breath.
Perhaps they ran into technical difficulties, or perhaps the [...]

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Published on November 11th, 2011 - 10 Comments
Filed under: Banking, Online
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Banks Back Off on Debit Card Fees

Written by Nickel - 4 Comments

As I alluded to in yesterday’s post about the Everbank signup bonus, Bank of America has decided against implementing a $5 monthly fee for debit card usage. This reversal occurred against a backdrop of consumer rage that spawned Bank Transfer Day, which is focused on getting people to move their money from big banks to [...]

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Published on November 2nd, 2011 - 4 Comments
Filed under: Banking
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Get a $60 Signup Bonus from Everbank

Written by Nickel - Leave a Comment

Capitalizing on Bank of America’s highly publicized decision to charge certain customers $5/month for debit card usage (but see below), Everbank has launched a promo offering a $60 signup bonus for opening an account with them. In the ads, they ask:

“Why would you pay $60 a year to use your debit card? We’ll pay you [...]

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Published on November 1st, 2011 - Leave a Comment
Filed under: Banking
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Can Banks or Credit Unions Increase CD Early Withdrawal Penalties?

Written by Nickel - 4 Comments

Last spring I wrote about a credit union that changed the terms of their existing CDs. The institution in question was Fort Knox Credit Union in Radcliff, KY. Today, I want to follow up on that story and provide an update.
The change in this case was an increase in the early withdrawal penalty on all [...]

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Published on October 14th, 2011 - 4 Comments
Filed under: Banking
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