Apple Pay May Come to Wells Fargo and Bank of America ATMs

Two more major banks are primed to introduce cardless ATMs. Citibank and Chase have been working on cardless ATMs, and last week, reports surfaced that Bank of America and Wells Fargo are planning to integrate Apple Pay into their ATMs. … Continue reading

Smartphone Technology May Speed Up Bank Transactions

Bank of America and Wells Fargo are just two banks that have started researching a technology intended to shorten your wait at the teller line or ATM machine. An individual would use this “pre-staging” process to begin a banking transaction on your mobile … Continue reading

Cash Recycling ATMs Could Revolutionize Bank Efficiency

Nautilus Hyosung America, the biggest provider of automated teller machines in America, announced yesterday that it will be partnering with Elan Financial Services to provide "cash recycling" solutions to bank ATMs. This process could revolutionize the way banks control the … Continue reading Weekly Credit Card Update–August 15, 2014

Debt Collectors, What are Their Legal Limits? Collectors call again and again in the middle of dinner. They call the wrong person. They threaten. They take advantage of the latest technology to embarrass people. Often, they violate the law. Debt … Continue reading Weekly Credit Card Update–August 1, 2014

A Third of Americans Delinquent on Debt More than a third of the country is in trouble when it comes to paying debts on time; 35% of Americans have debt in collections, according to a study out Tuesday from the … Continue reading

MasterCard Extends Zero Liability Policy at the ATM

MasterCard issued a zero liability policy for ATM transactions shortly after the Target card breach last year. Now, the company has decided to extend that policy through the month of October. The current policy protects cardholders when they use their … Continue reading

Card-Free ATMs Coming to Australia

Australian banks are taking a new spin on ATM technology by offering ATMs that do not require a debit or credit card. Within the coming months, cardholders across the continent will be able to pull money out of an ATM simply … Continue reading

Bitcoin ATMs Hit the Market

The cyber currency Bitcoin is getting a real-world face lift, thanks to the work of LocalBitcoins. The company announced on their blog that they have sent out the first wave of Bitcoins ATMs to five locations in Helsinki, Finland. The … Continue reading

Windows Forces ATMs to Upgrade to New Operating System

Most ATMs in America run off Windows XP, which is a 12-year-old operating system rarely seen on computers these days. Windows is now forcing ATM owners to upgrade to Windows 7 because the company will no longer support the XP … Continue reading

Dangerous Places to Use Your Debit Card

Consumers are understandably reluctant to use their debit and credit cards due to the recent data breaches that have taken place at Target and Neiman Marcus. For some people though, using a debit card is a way of life, the … Continue reading Weekly Credit Card Update–April 19, 2013

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 Weekly Credit Card Update–April 5, 2013

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

The Movement Toward Chip-Based Credit Cards

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

1 in 4 cardholders globally have been victimized by fraud

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 Weekly Credit Card Update January 25

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

Bill Passed to Curb ATM Lawsuits

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 Weekly Credit Card Update November 9

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

LowCards Weekly Credit Card Update October 12

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

Consumer Cautions on Prepaid Cards

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