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More Banks Drop Debit Card Fees

by Flexo

Consumer outrage and backlash does work, apparently. Wells Fargo Bank and Chase Bank have been testing debit card fees in a small number of locations within the United States, but due to the anger unleashed after the largest bank, Bank of America, announced it would add a $5 debit card fee in 2012, the two ... Continue reading this article…

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Bank of America Charging $5 Debit Card Monthly Fee

by Flexo

Last month, I noted that Wells Fargo was to begin testing a $3 debit card monthly fee in some areas of the country. Since the recession, banks are looking for more ways to generate profits from depositors. Historically, banks turned deposits around and approved loans for borrowers at higher interest rates than what was paid ... Continue reading this article…

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According to Wells Fargo, My Name is Business Customer

by Flexo

I chuckled when I received my replacement business debit card in the mail yesterday. Although I never had any problems with my account, and I’ve always received mail from Wells Fargo addressed properly, at some point, someone in the bank decided the name of the owner of my business accounts is “Business Customer.” As Wells ... Continue reading this article…

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Wachovia to Wells Fargo Transition

by Flexo

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 ... Continue reading this article…

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Senator Dodd Going Ahead With Overdraft Legislation

by Smithee

We told you last month about banks deciding to let customers opt out of overdraft fees, first announced by Bank of America and JP Morgan Chase, and then the next day by Wells Fargo (and Wachovia, which it owns). These big banks made the changes very soon after lawmakers announced an intention to try to ... Continue reading this article…

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What’s Going on With Wachovia, Citi, and Wells Fargo

by Flexo

This would-be acquisition is turning into a mess. First Citi agreed to buy Wachovia’s deposits with the help of the FDIC. Wachovia accepted this deal under duress, apparently. The FDIC warned Wachovia that if they did not agree to the deal, the government would seize Wachovia’s deposits. That left Wachovia little choice but to accept. ... Continue reading this article…

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