Banking Blog

Monday, November 14, 2011 5:32 pm
By Marcie Geffner · Bankrate.com

Bank customers who voice their praise or scorn on social media websites might be disappointed to learn that many major financial institutions don’t bother to monitor social media or don’t feel that these conversation are important. Indeed, banks and financial institutions are behind the curve in the use of social media as a means of

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Saturday, November 12, 2011 12:30 pm
By Marcie Geffner · Bankrate.com

A bank customer in Llodio, Alava, Spain, recently received quite a shock when “a snake came slithering out of the slot of a cash machine when he withdrew his money,” according to a report by Euro Weekly News. The incident reportedly happened at a Caja Madrid bank branch around 8 a.m. local time, when the

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Friday, November 11, 2011 10:38 am
By Claes Bell, CFA · Bankrate.com

If you’re a regular Bankrate reader, you know credit unions have a lot of perks for members, including generally higher deposit rates, lower fees for checking and lower rates for loans than conventional banks. But here’s one thing you may not know: When credit unions are doing well, they sometimes pay members bonus dividends. Members

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Thursday, November 10, 2011 12:53 pm
By Claes Bell, CFA · Bankrate.com

Can a video screen replace a bank’s teller line? That’s a question some banks and credit unions are asking themselves as they attempt to improve and expand services for customers and cut costs. From Katie Kuehner-Hebert at BAI Banking Strategies: In 2008, the $2 billion-asset Coastal Federal Credit Union in Raleigh, N.C. began installing in its

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Thursday, November 10, 2011 12:29 pm
By David McMillin · Bankrate.com

According to a survey conducted by the Credit Union National Association, account holders sent a loud message to the banking industry last Saturday: We’re out of here, and we’re taking our money with us. Here’s a snapshot of what happened at credit unions Saturday, which included responses from 1,110 not-for-profit institutions around the country. 40,000

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Wednesday, November 9, 2011 12:41 pm
By Claes Bell, CFA · Bankrate.com

This week Italy became the latest European country to edge closer to catastrophic default, as interest rates on its 10-year government bonds topped 7 percent. As a point of reference, 10-year U.S. Treasuries are currently cruising at 2.1 percent. Rates on Italian bonds are so high because global markets believe Italy is at a much

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Tuesday, November 8, 2011 3:23 pm
By Claes Bell, CFA · Bankrate.com

Despite all the carping from banks over the swipe fee limits imposed by the Durbin Amendment, debit cards remain an important profit center for the industry. From Kate Fitzgerald at American Banker: Even with reduced revenues, debit still drives profits, Scott Qualls, senior vice president with BB&T Corp., told attendees. “We focus on the overall

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Tuesday, November 8, 2011 9:07 am
By Marcie Geffner · Bankrate.com

Many people find setting aside money to be a major challenge, and it’s even more difficult in these tight-budget times. With that in mind, here are 10 tips, courtesy of America Saves, a campaign coordinated by the nonprofit Consumer Federation of America, to help you save at least a little — or better yet, a

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Sunday, November 6, 2011 11:00 am
By Marcie Geffner · Bankrate.com

Fifty-eight percent of U.S. men spend more time each week watching sports than they spend working on their personal finances, including their investments, according to a new national survey of 500 men conducted by TNS on behalf of ING Direct, an online bank, and Men’s Health magazine. However, there’s still room for finances. ING Direct CEO

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Saturday, November 5, 2011 2:00 pm
By David McMillin · Bankrate.com

TD Bank announced it will raise fees in certain areas today, but the Northeast-based banking institution’s increases impact some unexpected services. Here’s a breakdown of the changes, which go into effect next month. Excessive savings account withdrawals (six allowed free each month): $9 for each additional remote transaction. Wire transfers: $15, previously $10. Certified checks: $8,

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