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Banking

Best Online Savings Accounts of 2017

by Richard Barrington

The best high-yield online savings accounts offer strong interest rates and great customer service, making them a popular option for savers. Studies also show online savings accounts often come with lower fees. Read More “High-yield” is unfortunately a bit of a misnomer these days; a decade ago, interest rates were 4 percent and 5 percent among select […]

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6 Ways Your Bank is Ripping You Off

by Richard Barrington

The Occupy Wall Street movement seems to have faded away, but it is fair to say that banks are still not very popular institutions. Fairly or unfairly, the prevailing impression many folks have is that bankers are fat cats who make their fortunes at the expense of ordinary people. However, instead of being mad at […]

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Reader Question: Where Is My Cash Now?

by Luke Landes

A reader asks where I keep my savings and whether I’m still a customer of Capital One 360.

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Why Most Millennials Don’t Have Credit Cards

by Luke Landes

According to a new survey, 63 percent of Millennials own no credit cards. For this poll, the Millennial generation is defined as those in the United States aged 18 to 29. The survey, put together by BankRate, attempts to get to the root cause for the lack of penetration of credit cards among this younger demographic, […]

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Wells Fargo Improving Transaction Posting Order

by Luke Landes

Banks typically look for every possible instance to charge customers to fees. That’s why it’s particularly important to stay aware of your bank account balances. With the increasing popularity of automatic payments (outgoing) or automatic withdrawals (pulls), a poorly timed deposit can result in overdraft fees or insufficient funds (NSF) fees. A few years ago, […]

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How to Close Your Wells Fargo Savings or Checking Account

by Luke Landes

Two years ago, Wells Fargo changed its customer agreement, taking away the rights of customers to resolve disputes with the bank through the typical legal process afforded citizens of the United States. Current Wells Fargo customers tacitly or knowingly agreed to sign away these rights in favor of an arbitration system that favors wealthy corporations. […]

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Should the US Postal Service Offer Basic Financial Services?

by Luke Landes

The U.S. Postal Service could offer basic banking services to customers, many of whom do not have reliable and affordable access to mainstream banking products like savings accounts and forms of credit. From the moment I heard this, it sounded like a bad idea. Not long ago, discussions about the U.S. Postal Service focused on […]

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MONEY’s Best Banks in America 2013

by Luke Landes

The MONEY magazine published its annual analysis of the best banks in America, and I count at least one surprise among the list of 15 categories. Just last month, personal finance bloggers voted on their favorite banks in the Fourth Annual Plutus Awards, and came up with a list with some notable differences, although the […]

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Received a Postcard From Bank of America But No Check?

by Luke Landes

If you’ve received a postcard from Bank of America informing you that you should expect to receive a check as part of the overdraft lawsuit, but you haven’t received a check, you may be wondering what you can do. Consumerism Commentary receives many questions about these checks because I’ve written about them and the lawsuit […]

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The Occupy Debit Card

by Luke Landes

Can an organization offer mainstream financial products while being ideologically opposed to the mainstream financial industry? That’s the question I began considering when I first heard that the Occupy Wall Street movement was in the process of developing a prepaid debit card product. The Occupy Debit Card is still just a concept, but if the […]

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