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Banking

Chase Increasing ATM Fee to $5

by Luke Landes

Chase Bank can’t seem to stay out of the news. Last week, I mentioned that the bank was considering limiting debit card transactions to $50 or $100 as a protest against the industry’s regulation of interchange (swipe) fees. Today, there is news that the bank has increased the ATM fee for non-customers to $5 in […]

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Moving Away From Banks and Other Companies “Too Big to Fail”

by Luke Landes

The FDIC is progressing in its development of new rules that will apply to financial firms — not just banks — deemed “too big to fail.” The rules would establish procedures for unwinding companies whose failure would pose a threat to the economy, when that failure appears to be imminent. The government organization approved a […]

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American Express Personal Savings Review

by Luke Landes
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By far, the most requested review on Consumerism Commentary that I have yet to write is for the American Express Personal Savings Account. American Express offers one of the highest interest rates available with this savings account, making it very attractive from the surface. Once you own an account, how does it hold up against […]

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Fifth Third Bank Changes Debit Procedure

by Luke Landes

Some good news has come out of the class action lawsuits dealing with overdraft fees. The lawsuit against Fifth Third Bank still has one more hurdle to overcome, but most likely, customers who have paid overdraft fees for debit card transactions may see some or all of these fees refunded. Also as a result of […]

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My Business Bank Accounts: Checking and Savings

by Luke Landes

The economic environment is still not great for savers. Those who were smart or financially stable enough to have emergency funds and other savings accounts have been rewarded with low interest rates for the past few years. Take a look at these historical interest rates to see how low we’ve come. The good news is […]

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CNN Money’s 8 Least-Evil Banks

by Luke Landes
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Out of the eight “least-evil” banks, as ranked by a staff reporter for CNN Money, I am a customer of two. Everyone who makes financial transactions of a regular basis or handles money in any form should have a checking and savings account at a solid bank that doesn’t attempt to charge its customers exorbitant […]

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Open a Yuan Bank Account in New York or Los Angeles

by Luke Landes

If you visit the Bank of China’s branches in New York or Los Angeles and bring two forms of identification and your cash, you have the opportunity to open a savings or money market account denominated in yuan (renminbi), the currency of China. The interest rate you’ll earn is low, but that would not be […]

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Zions Bank Online Savings Account Review

by Luke Landes

As of today, Zions Bank offers one of the highest interest rates among high-interest savings accounts. Is it worthwhile to move your money there to take advantage of this interest rate? Today’s interest rate environment is not the best for moving money from bank to bank in search of the highest rate, so the more […]

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Wachovia to Wells Fargo Transition

by Luke Landes
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In addition to my bevvy of online savings accounts, I have standard, twentieth-century brick-and-mortar banking accounts, though only at two banks. I opened an account at TD Bank (formerly Commerce Bank) several years ago — because everyone loves being able to visit the branch on a Sunday. My primary branch accounts for personal and business […]

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Discover® Bank Online Savings Account Review

by Luke Landes
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Interested in opening a savings account at Discover® Bank? Read this article first. Note: I’ve recently updated this review to indicate that transaction downloads for Quicken are now available. Last year, I noted that E*TRADE Bank will be moving some customers’ accounts to Discover Bank. The only customers affected by this move are those who […]

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