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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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Presidential Bank Lowers Rates on Savings and Checking

by Luke Landes

Another day, another interest rate change. Consumerism Commentary reader Brian wrote in to let us know that Presidential Bank lowered its interest offered on the savings account to 4.4 percent APY and 3.5 percent APY on the checking account.

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Emigrant Direct Interest Drops to 4.65% APY

by Luke Landes

Emigrant Direct dropped the interest rate on its savings account today from 4.75 percent to 4.65 percent annual percentage yield. I’ve updated the list of current checking and savings account rates to reflect the change.

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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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New Log-In Process Coming to EmigrantDirect

by Luke Landes

I received an email from EmigrantDirect today warning that the process for logging into their website for online banking is about to change. The new process will be similar to ING Direct’s security feature involving a unique sign-in ID, an image, and a pass phrase. If you’re a customer, you might have received this email. ... 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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ING Direct Lowers Interest Rates Following Fed

by Luke Landes

As expected, ING Direct was the first bank to lower savings and checking interest rates today in response to the Federal Reserve Board’s interest rate reduction. ING DIRECT’s Orange Savings Account has changed to 0.90 percent APY. The rates for the Electric Orange Checking Account have changed as well. The new tiers are: $0-49,999.99 earns a ... 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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Company Might Not Get Its Money From NetBank

by Luke Landes

I mentioned yesterday that NetBank melted down and was taken over by ING Direct. Most customers will have a seamless transition, but not everyone. Applied Cognetics, a small business, held about $1 million in deposits at NetBank. They won’t be able to access that money for quite some time — if they ever get paid ... Continue reading this article…

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First ING Direct, Then HSBC Direct, and Now Emigrant Direct

by Luke Landes

Emigrant Direct is the next bank to drop its interest rate on its customers. Who’s next?

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Another One Bites The Dust: HSBC Direct Lowers Interest Rate

by Luke Landes

HSBC Direct is the next bank to drop its savings interest rate. There are still a few options over 5.0 percent APY out there, though.

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ING Direct Drops Interest Rate From 4.5% to 4.3% APY

by Luke Landes

ING Direct hasn’t been the interest rate leader in years. In a world where some banks are offering yields above 5 percent on money market or savings accounts, ING Direct sat squarely at 4.5 percent. Nevertheless, I still have the bulk of my savings there. I am too lazy to chase around for the highest rates every ... 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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