Charges for calls to customer support, reloading fees, fees for purchases, fees to withdraw money from ATM – did you know the if you have a pre-paid debt card you have to pay for every transaction associated with the card? The New York Times recently did an article examining these surprising fees in depth.
We’ve [...]
Entries Tagged as 'overdraft fees'
PrePaid Debit Card Costs vs. Overdraft Fees – Which is Worse?
October 8th, 2009 · No Comments · Banking, Credit Cards
Tags: banking system·Checking Account·Chexsystems·Consumerist·cost alternative·critics·Fees·Hidden Fees·New York TImes·overdraft fees·prepaid cards·US Banks
Consumer Takes Bank to Small Claims over Overdraft Fees – and Wins!
October 2nd, 2009 · No Comments · Banking, I'm suing those guys!
I thought I would share with you a great video which documents one consumer’s fight against the usurious fees charged by the banks for overdrafts. Due to consumer unhappiness and petitioning, U.S. lawmakers have proposed new overdraft fees which has the banks quaking in their shoes. As a result, some banks have [...]
Tags: Checking Account·court costs·documentary·lawmakers·Overdraft·overdraft fees·small claims court·Wells Fargo
“Transaction Sorting” Maximizes Overdraft Fees for Banks
July 16th, 2009 · No Comments · Banking
With the new credit card laws about to go into effect, banks are scrambling to replace the usurious income they used to be able to generate through late fees and sudden high interest rates. Overdraft fees on checking accounts are now being referred to in the banking industry as the “motherlode”. The method for [...]
Tags: Banking Industry·bounced checks·Checking Account·debit charges·debit transaction·Mike Moebs·Nightline·overdraft fees·transaction sorting
Banks Can Access Your Social Security Deposits to Cover Overdraft Fees
July 14th, 2009 · No Comments · Banking, Consumer Info
If you live in California and you collect Social Security, it is time to pay better attention to your account balances – because Uncle Sam has decided that the overdraft fees you “owe” the bank can be taken directly from your Social Security deposits.
Last month, the California Supreme Court unanimously overturned a billion-dollar class-action award [...]
Tags: bank of america·California supreme court decision·insufficient funds fees·Miller versus Bank of America·overdraft fees·Social Security Deposits
