However, this is something that the company needs to think more seriously as it focuses on growing and expanding its business. No wonder, the company has its paid promoted updates pilot programs, empowering businesses to attract more customers, but that is still in its unripe stage and needs more time before it can scale widely. In conjunction with this, Foursquare has an additional analytics dashboard that helps businesses to have more information about different types of people who are spending at their stores. These powerful tools can be fair enough for understanding consumer behavior, helping businesses to take critical decisions.

At the same time, the company is all set to accept Visa, Mastercard and debit cards, which are commonly used by the majority of Americans today. With this initiative, in association with check-in-deals program and other tools, it is expected to drive the revenues for Foursquare. However, the success of the program depends majorly on whether the individuals continue to check in the deals and discounts, wherein consumers can now link their Foursquare accounts with credit card, debit card, Visa and Mastercard.

With these initiatives, the company expects to drive revenues for one of its longstanding streams, and will be successful in the effort, given its check-in-deals program hits the minds of the consumers. Till then, Foursquare continues to publicize and introduce new initiatives to enable businesses attract consumers.

Just as the online banks operate without any branches, brokerage firms also follow more or less the very same concept. The clients can get on with their banking transactions for any length of time without ever visiting the physical location of the concern. Everything happens on the digital plane. Withdrawal of money is possible at any ATM whether part of a bank or one among the network. This is possible because of tie-ups between brokerage firms and ATMs. In order to attract customers, certain firms may offer incentives such as fee reimbursement on the amount withdrawn from any ATM.

Hassle free account opening and running

There are certain brokerage firms that do not charge any fee for opening a checking account and none charges the monthly fee as the account running cost. This is the biggest incentive for those who are unable to meet the expenses related to opening and running a traditional bank account. No minimum balance in the account is required and now nobody needs to worry about rerouting fund from other sources in order to deal with the monthly fee payment. High savings and minimum fuss seems to be the motto of checking account with brokerage firms and people are naturally lapping up this concept.

Beneficial features of brokerage checking accounts

Besides the main ones, a number of other positive aspects of brokerage accounts make them ideal. These include online free payment of bills, mobile banking options, deposits bearing interest, and check deposit via mobile. Online or management through mobile devices make this a hassle free proposition that many want to embrace.

Those who believe in online banking can surely benefit immensely from this new endeavor from Discover.

How to deal with errors related to credit card transactions

Credit card (CC) owners everywhere need to deal with disputes arising in relation to the plastic repeatedly. Account errors are nothing new and there are times when one finds bills for purchases never made or double billing for same transactions. If the credit is late in coming or there is some or other problem related to the credit card currently owned, it is possible to seek card protection advice or legal help. Those who find errors in their credit card transactions should immediately contact the merchant related to the issue. This can surely speed up the procedure and rectify errors.

Consumers can ask for full refund from the business responsible for the confusion. In cases where the merchant fails to respond as expected, consumers can contact the CC issuing company for charge backs. This process reverses the transaction by removing it from the due bills of the customer, while charging the merchant instead. The Fair Credit Billing Act is specifically for the protection of consumer rights and one can seek justice through it when all else fails.

1. Eliminate the expensive monthly fees: Today, there are only few banks who offer free checking accounts, having no strings attached. This means regular monthly fees is a must to keep the account running. However, checking accounts from different brokerages don’t come with a monthly fee, which is one of the most important reasons for many consumers opting for brokerage checking accounts than regular ones. Furthermore, you don’t have to meet the criteria of minimum account balance or rerouting the direct deposits for avoiding expensive monthly fees. In simple words, brokerage checking accounts might help you with great savings.
2. Huge benefits: Online bill payment for free, interest bearing deposits, mobile check deposit, and mobile banking applications are just a few benefits that come with brokerage checking accounts.
3. Anytime, anywhere ATM access: Similar to online banks, brokerage checking accounts consumers can operate most of their banking chores without having to visit any physical location. They don’t operate ATM networks or branch offices; rather, they offer access to any ATM, anywhere, anytime, and at no cost. They generally partner with ATM networks and banks to offer free transactions, anywhere, everywhere.

However, despite of the benefits, brokerage checking accounts are not appropriate for everyone. Though they tend to be a lucrative alternative to regular checking accounts, they are not always the best fit for consumers. Consumers are more likely to manage their accounts online or via a Smartphone. Even if you have registered for a banker or teller, brokerage checking accounts cannot deliver convenience and services as compared to banks. Further, certain brokerages might demand for a brokerage account to qualify for a checking account. However, while evaluating choices for opening a checking account, brokerages are worth considering.

Today is miniscule 39% major U.S. banks are offering a non-interest checking account having no fee. This is a miserable figure from staggering 76% just three years back. In 2011, it was 45% and from then on words there is an ongoing steady decline.

The Reasons:

This is a result of the federal regulations, which reduce bank revenues from debit card swiping fees and overdraft fees, and the bankers are responding to this. Free checking account is simply a casualty of new banking regulations and customers have nothing to do but bear the situation.

Avoiding The Fees:

In order to get a free account one can go for direct deposit signups. This is the commonest string and a comparatively low hurdle, which anybody can clear. In order to waive the related fees, many banks require at least a minimum balance and it can even reach thousands of dollars. Another option is moving the money around. It is necessary to find an appropriate financial institution including online or community banks and credit unions. These offer a free checking whether no qualification requirements.

Future Planning For Cash:

In order to avoid paying fees it is a good idea to go for personal bank ATMs and those, which are present within the network. Purchasing with credit/debit card is also a money back proposition. There are no fees in such situations.

Avoid Fees For Overdraft:

Overdrawing on account can be a big mistake for account holders. It is necessary to monitor individual accounts for automatic payment of bills, cash withdrawals, and charges for debit card. Those who want can easily check balance on the web and even use the phone. Instead of paying a hefty overdraft fee, it is a good idea to connect the checking and saving accounts. It is easy to tap it in case of overdrafts.

However, besides offering an average interest rate of more than 2%, these banks and credit unions include certain caveats for high-yield checking accounts. There are several requirements and conditions for opening and using a high yield checking account in the United States. The most common among these is that the banks and credit unions set the minimum number of debit transactions for each month to at least 10. The core requirements for automated bill payments and direct deposits are also common for getting higher interest rates. If customers fail to meet the requirements in a particular month, the rate of interest will significantly fall to almost less than 1%.

In addition to this, the highest average percentage yield is typically applicable for a certain amount of balance limit. Any amount falling above that cap will not earn a premium yield. However, this balance cap amount changes every year, as specified by bank and credit union regulations. In the current year, the balance cap amount is continuing to be at $25,000. However, the top ten highest-yielding checking accounts in the United States have a balance cap amount of $15,000 or even less. Since higher average percentage yields are applicable only up to a specific balance cap, it is not simple to find the accounts with the highest yields.

Consumers, who are looking for a higher rate of interests, should adjust the money that they are planning to keep in the account to get the most benefits. And if they know they can meet the essential requirements on a regular basis, the high-yield checking accounts make more sense for them.

With the bank fees soaring at a fast pace, Free Checking Accounts, the ones with no conditions for minimum balance or a fixed monthly fee, are rapidly declining. Talking about the hike in bank rates, followed by declining free checking accounts, Greg McBride, senior financial analyst, stated that this rising trend in bank rates is here to stay for a few years now. No way, it is going to change too soon, added Greg.

The study further reported that only a meager 35% of the top banking institutions in the United States were offering non-interest accounts for free, as of the figures available in November, 2012. This is indeed a massive drop from a record high of 76% in the year 2009 or even 45% in the 2011. This decline in free checking accounts has been attributed to the negative effect of rising bank rates in recent years. Greg further commented that if things are going to work like this, a day will come when there will be no banking institution left, offering checking accounts for free to customers.

So, how to avoid the brunt of rising bank rates? How to open a checking account with no fees, no minimum balance? Open a direct deposit account, suggests industry experts. Use ATMs only when it is most necessary, avoid fees in bank overdraft, and identify the root cause for the bank charging such fees, recommends the experts. On that basis, change your banking habits and financial transactions to avoid the heat of rising bank fees.

Opening the checking account is very simple. You need a proof of identification, such as your social security card or your driver’s license; you also need the proof of residence, such as a lease or any utility bill. Last but not least, you need the money that will be deposited in the checking account. Once you make the deposit, you basically trust the bank in managing and keeping your money safe. The bank will give you a debit card, as well as a checkbook. Using the debit card and the checkbook, you can withdraw money or make purchases or you can pay your bills.

Keeping tracks of the money you have in the checking account is very important. You will continually deposit and withdraw and you need to make sure that you don’t spend more money than deposited in the account; in case you do this, you will have to pay penalty fees and this surely isn’t a pleasant situation. This is the reason why you need to track the account; by doing this, you’ll get the chance to avoid paying penalty fees for spending more than the amount deposited in the account. The bank will surely help you keep a clear track of your account. You will receive monthly statements, you can check the balance by going to the bank anytime you want in order to ask for a clear situation. In addition to these, you can also check the checking account’s balance using the phone and through debit machines; last but not least, asking the teller at the bank at which you deposited the money is another way in which the checking account can be checked.

The checking account can prove to be very useful, so you should make sure that you get one as soon as possible. This is the way in which you can protect your money, so get such an account!

• Average monthly maintenance fees for non-interest checking accounts is reported to be at a record high of $5.48, which is almost a 25% jump over the figures from last year
• The charges for getting cash from an out of network ATM has also increased drastically. According to the study, people can expect to pay almost an average fee of $2.50 to the ATM owner, which stands at a record high of 4% from the figures of last year. Additionally, the bank will charge another $1.57 on an average, which is a whopping increase of 11%
• Overdraft charges have also increased dramatically. According to the study, average fees for insufficient funds has increased to $31.26 from $30.83 last year

As the fees are increasing at a rapid pace, the concept of free checking accounts, with no monthly fee or no minimum balance, is on its way to extinction. In this regard, Greg McBride, senior financial analyst at Bankrate said that this trend is going to linger for years to come, with no tendency of reversing very soon. The survey also reports that only 39% of the total major banks in the United States provide non-interest checking accounts with no fee. And this is a huge dip from a peak of almost 76% in 2009 and 45% in 2011.

Bankrate study also stated the reasons behind such hike in bank fees and reducing numbers of free checking accounts today. More and more bankers are functioning as per the new regulations of the federal government, which has reduced the revenues considerably from both debit card swipe fees and overdraft fees. Moreover, regulatory changes have also contributed towards casualty in free checking accounts, stated McBride. He also said that people need to have some sort of business or relationship with the bank to have a free checking account today.

The study also presents how to avoid the fees and get an account for free by signing up for direct deposits. People can also avoid the “most interest bearing checking accounts,” only use ATMs when needed, avoid overdraft fees, and identify the cause of such fees and then react accordingly to avoid it.

This is the newly introduced ‘a la carte’ accounts that are simply another way for banks to make money, but in a gentler manner without inconveniencing the customers. Frost Bank, as well as another large financial lender in the USA, the Union Bank that is based out of San Francisco has adopted this latest move to move away from the other fee levying accounts that are being offered by the other banks across the country. This move also helps overcome the need to levy charges for the usage of debit cards.

Alex Matjanec, the co-founder of one of the leading financial website opines that this is a great PR move since customers are not being charged forcefully, but voluntarily opt for services they use regularly and pay only for it. Currently, not many leading banks in the country offer this type of accounts, but considering the rising popularity, the senior counsel and Vice President of the American Bankers Association opines that it will not be long before the other financial institutes in the country follow suit and start offering these accounts. She also said that it this move by two banks was just the beginning of a new trend.

As per the data available with the Federal Reserve, Mitsubishi UFJ Financial Group Inc. owns the Union Bank that has assets worth $87 billion and ranks 23rd in the list of top banks in the United Sates. Frost Bank which has assets worth $20.9 billion occupies the 44th place in the same list. The new trend that has been started by these two banks will see rising popularity in the days to come.