Posted by Chad Davis on September 30, 2011 at 9:05am As expected another big bank announced new fees associated with debit card usage. Bank of America recently announced a $5 per month fee for all customers who use their debit card fee—with exception to ATM usage and certain special accounts. This new fee [...]
Tag Archives: Banks
Sun 04/10/2011 - 12:00
More than eight months after it introduced same-day settlement for automated clearing house transactions, the Federal Reserve has attracted only a handful of banks for the service. “It’s been a long struggle,†Steven Cordray, retail payments project manager at the Atlanta Fed’s Retail Payments Office tells Digital Transactions News. Speaking on Monday at Payments 2011, [...]
Tue 11/09/2010 - 08:15
Digital Transactions – November 3, 2010 Secure Vault Payments (SVP), a method of e-commerce payment that relies on the automated clearing house, secured its first big-bank supporter on Wednesday with the announcement that U.S. Bank has agreed to offer the service to both consumer and merchant clients. The fifth largest bank in the country, the [...]
Wed 09/29/2010 - 09:58
Credit unions in Utah and across the country are facing higher insurance premiums — the result of federal regulators late last week seizing three wholesale credit unions that were financially hobbled by losses on sub-prime mortgage bonds. The three wholesale credit unions, in Connecticut, Illinois and Texas, were seized by regulators of the National Credit [...]
Mon 05/31/2010 - 04:24
Cross posted from American Banker by Daniel Wolfe The best thing about mobile payment apps is not the speed of transactions made with phones, but how the apps let people manage their accounts on their own instead of wasting time at the register, according to early results from retailers. Bankers have been promoting the mobile [...]
Fri 05/28/2010 - 03:16
Between 2000 and 2010, the number of households that use online banking increased more than six-fold, and the number that use online bill payment increased nearly eight-fold. Online bill payers now represent a wide cross-section of the U.S. population, and women have edged out men as the primary users of the service. A comprehensive overview [...]
Wed 04/14/2010 - 03:02
Cross posted from Bank Fraud Forum April 09, 2010 by Shirley Inscoe Recently several bankers I’ve spoken with stated they “don’t have a check fraud problem†or that they have check fraud “under controlâ€. These comments puzzled me, especially in light of the release of ABA’s most recent Deposit Account Fraud Survey Report. The report, [...]
Fri 03/26/2010 - 07:25
As posted on Digital Transactions (March 24, 2010) The concept of an all-digital check, which surfaced in a paper published in November by the Federal Reserve Bank of Chicago, could move from theory to reality in a matter of months now that a technology startup in Atlanta has won a pair of patents covering applications [...]
Fri 03/26/2010 - 04:21
By MARY PILONÂ as posted on WSJ.com “Free” checking is often anything but. The majority of Americans have checking accounts at traditional banks with branches. But as concerns over new fees rise and brand loyalty sours, many are finding that the best deals for checking accounts can be found at other places, such as online banks [...]
Thu 03/25/2010 - 12:13
By Jean Chatzky Monday, March 22nd 2010, 4:00 AM Starting July 1, if you want overdraft protection for your checking account — which allows you to use your debit card even if you don’t have the money in your account — you have to tell the bank that’s your choice and pay a fee. If [...]
Wed 03/10/2010 - 09:41
March 2, 2010 Digital Transactions Remote deposit capture by mobile phone, a recent technology still considered experimental by many bankers, has proven itself in deployments so far, a banking researcher said on Monday. “The technology is demonstrably ready for broad adoption,†Robert Meara, a senior analyst at Celent LLC, told attendees at a banking conference. [...]
Thu 03/04/2010 - 06:45
By Ylan Q. Mui Washington Post Staff Writer Thursday, March 4, 2010 The Federal Reserve proposed restrictions Wednesday on penalty fees that credit card issuers can charge consumers, including limiting the amount of late fees. One of the most significant changes would prohibit card companies from issuing penalty charges larger than the amount of the [...]
Thu 02/18/2010 - 12:28
Digital Transactions February 11, 2010 Visa Inc.’s announcement this week that starting this summer it will no longer require signatures for transactions of $25 or less at most U.S. merchants heralds a policy that will result in faster and smoother transactions but could also undermine the payments industry’s move toward contactless technology. “The merchant proposition [...]
