Banking Blog

Tuesday, January 17, 2012 3:39 pm
By Claes Bell, CFA · Bankrate.com

Withdrawing money an ATM not owned by your bank has never been cheap. But now, ATM providers have new way to make sure they maximize the fees you pay for withdrawals. From Felix Salmon of Reuters: Paul Volcker likes to say that the only worthwhile financial innovation of the past 20 years has been the

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Monday, January 16, 2012 9:30 am
By Marcie Geffner · Bankrate.com

Short of cash? Out of checks? Forgot your debit card? Maxed out your credit? Don’t worry. If you want to buy a power drill, flat of pansies, major kitchen appliance or whatever at one of five particular Home Depot stores, you’ll be able to pay with — wait for it — PayPal. Customers can authorizes

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Saturday, January 14, 2012 9:00 am
By David McMillin · Bankrate.com

While many account holders use online and mobile banking tools to manage their finances, some consumers are willing to turn to alternative channels for money management. A new study from Javelin Strategy & Research reports that 1 in 10 consumers are comfortable using social media sites to review or check account balances. While 10 percent

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Friday, January 13, 2012 4:30 pm
By David McMillin · Bankrate.com

Here’s some good news for the financial industry: fewer banks failed in 2011. Last year, the final tally for bank failures did not break the triple-digit mark, a statistic that seems to indicate a positive trend for the banking industry. Here’s a breakdown of how the banking industry has fared over the past four years.

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Friday, January 13, 2012 4:26 pm
By Claes Bell, CFA · Bankrate.com

Suze Orman is taking considerable flack over the prepaid debit card she introduced this week. Phillip Taylor of PT Money in particular took exception to Orman’s idea that the card should be a permanent replacement for a checking account, insisting a checking account at a responsible bank or credit union is always a better choice.

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Wednesday, January 11, 2012 1:30 pm
By David McMillin · Bankrate.com

Some crafty criminals are aiming to steal one of the most valuable pieces of your personal property: your banking information. In a new warning, the Federal Bureau of Investigation warns account holders of a new spam email scheme that involves a type of malware called “Gameover.” The scheme involves fake emails from the National Automated

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Wednesday, January 11, 2012 11:49 am
By Claes Bell, CFA · Bankrate.com

If you follow this blog with any regularity, you know I’ve been writing a lot lately about prepaid debit cards, which are increasingly becoming a challenger to traditional checking accounts. I caught up with RushCard CEO Rob Rosenblatt this week to give him a chance to respond to my criticism of its new RushGoals savings

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Tuesday, January 10, 2012 4:28 pm
By Claes Bell, CFA · Bankrate.com

Looks like personal finance celebrity Suze Orman will be joining Russell Simmons, the cast of Twilight and Lil Wayne in introducing a branded prepaid debit card. Orman’s Approved Card is much like the other entrants in the market, providing the ability to make debit card transactions without a conventional checking account, and charging a la

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Tuesday, January 10, 2012 9:50 am
By Marcie Geffner · Bankrate.com

If last year’s holiday season blew a hole in your budget, January could be the ideal time for you to start saving for this year’s gifts and festivities. One way to do that is to open a Christmas club account, according to Katherine Hutt, a spokeswoman at the national Council of Better Business Bureaus, or

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Monday, January 9, 2012 10:42 am
By Marcie Geffner · Bankrate.com

The Gen X and Gen Y generations are saving more rigorously for their retirement years than are their mature grandparents or boomer parents. That’s according to a new survey from TD Ameritrade, a stock brokerage company in Omaha, Neb. Eighty-five percent of those surveyed said they have an Individual Retirement Account, or IRA, 401(k) or 403(b)

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