Chase Bank has now placed self-service kiosks in 400 locations. Last week, additional locations were opened, including one in the Blue Ash branch in the Greater Cincinnati area. The new kiosks were described as "ATMs on steroids." With the new … Continue reading
ATM Fees on the Rise Using an ATM outside of your bank's network is becoming more expensive. The average fee a bank charged a non-customer for using their ATM in 2012 was $2.10, a 20 percent increase from the $1.75 … Continue reading
The U.S. Government Accountability Office recently issued a report stating that ATM fees have risen considerably in the last five years. In 2012, the average cost of using an ATM outside your bank's network was $2.10, an increase of 20 … Continue reading
18 States Considering Ban on Credit Card Surcharges Eighteen states are now considering legislation that would bar retailers from imposing surcharges when consumers use their credit cards. Ten states have already imposed bans on credit card surcharges, which limited the potential impact of … Continue reading
Educational initiatives on the U.S. transition to secure chip-based credit card payment systems was one of the top priorities for 2013 to come out of the 6th annual Smart Card Alliance Payments Summit, held recently in Salt Lake City, Utah. … Continue reading
One out of four consumers from 17 countries worldwide have been victims of credit, debit or prepaid card fraud, according to a survey conducted by the payments system company ACI Worldwide. The 2013 Global Card Fraud Survey is based on interviews … Continue reading
With Cordray Nomination, Obama Renews Fight With GOP President Obama renominated Richard Cordray for head of the Consumer Financial Protection Bureau on Thursday. Cordray is currently serving in the post thanks to a recess appointment. A year and a half ago, … Continue reading
Card skimming is now a sophisticated crime that can happen anywhere you swipe your credit or debit card. Thieves can insert a skimmer into the card reader sleeve and a hide a tiny camera nearby to record PIN numbers. There … Continue reading
President Obama last week signed a bipartisan bill that eliminates ATM operators having to post notices of transaction fees on the ATM screen and also on or near the machine. The bill overturns the provision in the Electronic Fund Transfer … Continue reading
Financial institutions received some good news yesterday when the Senate unanimously passed a bill that amended the Electronic Fund Transfer Act and eliminated the fee disclosure requirement on ATM machines. The Electronic Fund Transfer Act made it a requirement that some … Continue reading
Consumer Credit Growth Cools, Credit Card Use Sags In September, growth in consumer credit cooled as households appeared to use their credit cards less frequently. According to Federal Reserve data released this week, consumer credit grew $11.36 billion in September, lower … Continue reading
Wal-Mart and AmEx in Prepaid Card Deal Wal-Mart Stores is taking another leap into the banking world, announcing on Monday a prepaid card and debit account with American Express that will give low-income consumers access to features like smartphone deposits. … Continue reading
Overdraft fees on checking accounts took their first increase in four years, according to a new study by Moebs Services. Consumers paid $31.5 billion for overdraft fees in the fiscal year ending June 30, 2012. This was a 2.1 percent … Continue reading
Running short on cash? You may have been tempted to use your credit card at an ATM machine or perhaps try one of those convenience checks in your credit card statement. But before you resort to either of these alternatives, … Continue reading
During the last three years, the banking industry has been hammered by bad loans, increased regulations and a recession. During this time, prepaid cards have been one of the few bright spots of revenue growth for banks and lenders. Consumers … Continue reading