While the free checking account is disappearing from most banks; most of these banks are also charging a huge fee compared to what they have in the past. Either the fees have seen a hike or there are limited facilities that are available for free. As per the study conducted by the Pew Charitable Trust on the 10 major banks, the profits that are associated with the overdraft fees have …

Since the last three years, reward checking account rates have held up better than the internet savings account rates. But the rates have continued to drop and we have seen many rate cuts in the recent times on the reward checking accounts. However, these rate cuts are not the only things that we need to worry about on the reward checking accounts. The amount of interest that needs to be …

Due to the rising costs in the banking sector a recent study has found that prepaid cards are fast catching up as a better financial option for most people. These have even outpaced the checking accounts in most cases. The general-purpose reloadable cards are those prepaid cards which could be used just like any other debit card and where they can be ‘topped up’ at periodic intervals. However, there are …

Since the past year, the banking industry has faced a severe revenue crunch due to the regulations that have tightened the noose for the banking sector. Due to the poor revenue collection the free checking account is almost on the verge of becoming extinct. There are various restrictions on the banks with regard to the fees that banks can charge on overdrafts and on debit card related transactions. These are …

The traditional no-fee checking accounts have been abandoned even by the biggest banks within the last year and account fees have been raised to record levels. There seems to be no respite from the new fees and customers are getting increasingly tired of the new fees that are being charged. There was an offer from a bank to one of its customers where the customer was offered $100 for free …