Earlier this month, new federal legislation regarding automatic overdraft coverage went into effect. Banks are still allowed to offer overdraft protection on checking and debit card accounts, but it can only be provided as an opt-in service. It’s no longer automatic or set up by default. As a result, banks are getting more [...]
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When it comes to the best online banking rates, Ally Bank wants us to believe we’ve found our financial ally. With a refreshingly clever ad campaign, it’s tempting to believe it’s true. Here are some of Ally’s most attractive features and best online banking rates: No monthly fees for products such as high yield CDs, Raise [...] Automatic overdraft coverage, or an overdraft line of credit, is a fat cash cow for banks — worth billions in pure profit — or at least it was. Recent federal legislation now requires that financial institutions ask customers if they want automatic overdraft coverage. Banks such as Chase have launched an aggressive (one might [...] |
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