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How to Compare Checking Accounts and Find the Best One for You

walter — Tue, 13 Sep 2011 14:15:25 +0000

Did you know that the checking account dates all the way back to the early 1500s? It has come a long way since then, but it’s still based on the same idea: the bank holds the depositor’s money and distributes it on demand. Today’s banks are much more complex than they were back then, and so are checking accounts. They come with various features and fees, and are often combined with other types of accounts. A single bank may offer numerous types of checking accounts, and some individual banks offer features that can’t be found elsewhere. All of these options are...

Banking Fees Continue to Rise

walter — Mon, 25 Jul 2011 15:23:29 +0000

Banks are in business to make money. They accomplish this in a couple of different ways. First off, they earn interest on the money that they loan out. They pay part of this interest to their customers who have money market accounts, CDs and other interest-bearing accounts. They also make money from the fees they charge customers for things like checking account maintenance, ATM withdrawals, overdrafts and cashier’s checks. It’s no surprise that banks rarely lower their fees. But fees have been on the rise lately due to lower profits. The recently passed Great Recession and Credit Card Act includes...

Banking Fees

admin — Sat, 06 Feb 2010 19:53:59 +0000

Like any other business, banks are out to make money. Traditionally, they have accomplished this by lending money that's on deposit and collecting interest on it. But as you probably know if you have any type of bank account, banks also make a significant amount of money by charging their customers fees. Many customers sign up for free checking accounts in an effort to avoid fees. These accounts do not pay any interest, but there are no monthly maintenance fees and usually no minimum balances. But few “free checking” customers actually get by without ever paying any type of fee....

Watch Out for Banking Fees

admin — Wed, 22 Apr 2009 17:03:19 +0000

As we all know banks have been hit very hard with the economic downturn and they are searching for more and more “nickel and dime” charges to pass along to consumers to increase their earnings. Here are some suggestions for avoiding two of the more common fees that banks assess: Don't use another bank's ATM. Over 99% of ATM's now impose a surcharge that now averages almost $2.00 on cash withdrawals if you are not a customer of theirs. To avoid these ever-growing fees, use your debit card to make a purchase, and just ask for cash back. Keep your check book...