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Banking

Ken Jennings’ Quote of the Day and What Would You Do With $1.5 Million?

by Luke Landes

Ken Jennings was popular for a while as a major winner on Jeopardy. In the tournament, he went home with $2.5m. A windfall like this can inspire inaction or poor decisions. Ken Jennings has advice for those in this position: “Put your money somewhere not idiotic and leave it alone as much as possible.” What ... Continue reading this article…

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$100 to $200 Bonus for Opening a Chase Checking Account, March 2012

by Luke Landes

Editor’s Note:  These offers are no longer available.  See the bottom of this article for a new $100 bonus for opening a Chase checking account. If you’re looking for the best online checking accounts, including Ally, ING Direct, USAA, and others, read this article. A new Chase branch opened across the street from my apartment ... Continue reading this article…

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Online Banking is Safe

by Luke Landes

I know people who are still nervous about online banking, particularly with banks that have no major offline presence. Part of me wants them to embrace the future in which we live and get with the times. However, I understand it’s a slow and cautious process for many people, especially when there’s a level of ... Continue reading this article…

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ShareBuilder Acquired by ING Direct

by Luke Landes

I received this email last night, and it was news to me. I’ve had no problems dealing with ING Direct, nor have I had any problems dealing with ShareBuilder. I have accounts with both companies. For a while, ShareBuilder was offering significant bonuses to those who opened accounts, and ING Direct has always had their ... Continue reading this article…

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Check Your ING Direct Overdraft Protection

by Luke Landes

If you have ING Direct’s “Electric Orange” checking account with an overdraft line of credit, check your account if you haven’t done so recently. A number of readers commented today that their overdraft limit has been reduced or eliminated over the last few days. Divine responded to an earlier post about ING Direct closing customer ... Continue reading this article…

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Bank of America Raises ATM Fees: How Do You Avoid?

by Luke Landes

At dinner last night, the conversation for some reason turned towards personal bank accounts and the banks that hold them. Bank of America has grown to a large presence in this area, and there were some complaints about their service. In particular, their fees are higher than other banks in some cases. Some at the ... Continue reading this article…

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Opening a Business Checking Account

by Luke Landes

A few weeks ago, I had some free time on a Saturday and decided to take care of a chore I’ve been procrastinating for several months. I’m slowly in the process of formalizing the blogging that I do as an official business. Every few months or so, I take another step that brings me closer ... Continue reading this article…

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Fidelity Investments to Offer High-Yield Checking

by Luke Landes

I am currently on vacation and may not offer posts as frequently as usual. More brokers are offering high-yield checking accounts to compete with ING Direct’s Orange Checking. Offering competitive checking accounts helps the brokerages increase their assets without having to pay a significant portion of its earnings out as interest. Right now, E*Trade is ... Continue reading this article…

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$25 Bonus for Opening ING Direct Electric Orange Checking Account

by Luke Landes

After logging into ING Direct to view my account balances this morning, I noticed the bank is offering referral bonuses like they do for their savings account. I have $625 to give away, $25 to each of 25 individuals. I’ve written about Electric Orange a few times. Here are some of my prior posts about ... Continue reading this article…

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Congress Will Attempt to Fix Abusive Bank Policies

by Luke Landes

Earlier this month, I wrote about how overdraft fees are becoming more popular with banks finding ways to assess the fees more often, in tandem with raising what the customer owes each time — sometimes several within a day — an account is overdrawn. Laura Rowley’s latest column mentioned that a few congressmen are interested ... Continue reading this article…

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ING Direct’s Electric Orange Send Paper Checks Feature

by Luke Landes

For the first time since opening my “Electric Orange” checking account at ING Direct, I used the account’s ability to send a paper check. I’ve never used similar bill payment options that have always been available with my banks because other, better options, like paying by direct debit or credit card, were also available. This ... Continue reading this article…

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Overdraft Fees Becoming More Popular

by Luke Landes

There are two very specific ways banks are raking in the dough — your dough — thanks to slight changes or details in their policies. In the past, if you were to write a check or use your ATM/debit card to withdraw an amount higher than your balance, the check would bounce or the debit ... Continue reading this article…

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Pseudo-Savings Option: GE Interest Plus Account

by Luke Landes

I received an email from a reader about the GE Interest Plus Account. This account functions like a savings account with limited check writing privileges, but there are some important differences to consider before you open an account. The account offers high interest rates in tiers. For balances less than $15,000, you’ll earn 4.91 percent. For ... Continue reading this article…

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FNBO Direct 6.0% APY Savings and Media Blitz

by Luke Landes

A few days ago, I received a press release from the marketing company representing the First National Bank of Omaha, which recently created FNBO Direct to compete with online outfits like ING Direct and HSBC Direct. The new FNBO Direct account, with no minimums and no fees, offers 6.0 percent APY through September 28. The big ... Continue reading this article…

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Wachovia Charging Monthly $5.95 for Microsoft Money and Quicken

by Luke Landes

Wachovia Bank April statements are now arriving in customers’ mailboxes. Some customers are in for a surprise. The bank is now charging a $5.95 service fee for many account holders who use Microsoft Money or Intuit Quicken’s “direct connect” feature to download transactions directly into the software (without visiting the website). The fee is listed ... Continue reading this article…

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ING Direct Closed Customer’s Account Due to Bad Credit

by Luke Landes

Is it discrimination to cancel a customer’s checking account for their bad credit? ING Direct has done so to Nick, who emailed me (and Consumerist) a complaint forwarded to the ING Direct ombudsman. ING Direct has closed his Electric Orange account, a checking account that earns 0.20 percent – 1.10 percent APY currently. Evidently, ING Direct performs ... Continue reading this article…

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I Got Hit With a $4 Bank Fee From Wachovia

by Luke Landes

Last month, my landlord revoked credit card rent payments without enough notice to set up direct debit for April’s rent. I had to scramble to move around some money to write a check for April’s rent. Well, it would have taken too long to get the money from my ING Direct, so I had to ... Continue reading this article…

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ING Direct Threatened to Close My Account

by Luke Landes

For the second time this year, I received a nasty letter from ING Direct. I haven’t been diligent enough with watching my withdrawals. FDIC, the government organization that ensures that I can’t lose money my leaving cash in a bank account up to $100,000, also limits savings accounts to six withdrawals per month. For ING ... Continue reading this article…

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ING Direct’s Electric Orange Checking Account

by Luke Landes

As it was finally offered to me recently, I signed up for the new paperless checking account at ING Direct. Since I am a current customer of this particular bank, the account opening process was quick and straightforward. Right now, the account offers 0.20 percent APY interest on the first $50,000, which is great for a ... Continue reading this article…

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Wachovia to Start Charging for Direct Access to Quicken

by Luke Landes

Along with my monthly checking and savings account statement, I received the following notice in the mail: Important Message for Personal Account Holders Who Use Quicken, QuickBooks, or Microsoft Money Beginning April 1, 2007, a monthly fee of $5.95 will be assessed if you access Wachovia Online Banking directly from within your personal financial management ... Continue reading this article…

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