Author Archive
FYI: Why do banks offer online billpay for free?
Did you ever wonder why banks let you use online billpay for free? After all, it’s not free for them – they pay companies like CheckFree and Metavante big bucks so they can offer you free online billpay services. Are you worth it? Clearly, the banking industry is convinced you are — almost all [...]
FYI: Who Regulates Banks and Credit Unions?
Nowadays, consumers need to know a lot more about how banks and credit unions work in order to feel confident about the security of their savings. The most important thing is to make sure your deposits are federally insured by either the FDIC or the NCUA. So even if your bank fails, your money is [...]
FABB Snapshot: No Surprise — Lowest Daily Balances On The Decline
This is the third installment of our look at how the economy has affected peoples’ use of their checking account. In the first post, we reviewed how people are more likely to overdraw their checking account now than a year ago. Last week, we showed how people have begun using ATM card more frequently. This [...]
FABB Snapshot: People Use ATMs More To Manage Through Hard Times
Last week, in our first post about how the economy has affected peoples’ use of their checking accounts, we looked at the growing number of people overdrawing today compared to a year ago. This week, we’ll analyze one of the culprits of overdrawing — ATM withdrawals.
A lot of people are using cash more and credit [...]
FABB Snapshot: Overdrawing Accounts Rises As Economy Worsens
FindABetterBank (FABB) has been live since February 1, 2008. We thought it would be interesting to see how consumers’ banking behavior, feature preferences and checking account choices have changed over the last year. This analysis will be presented as a series on how the economy has affected consumers’ banking behavior.
More people are overdrawing their checking [...]