Banks’ Overdraft Policies Are Getting More Confusing

Last week, JPMorgan Chase Co. announced that it’s eliminating overdraft fees on purchases of $5 or less. Also this month, regional banks Fifth Third and U.S. Bank are raising their overdraft fees for multiple overdrafts and overdrafts over $15, respectively. These are just the latest developments in an increasingly complex balancing act for banks, which [...]

Banks' Overdraft Policies Are Getting More Confusing

Last week, JPMorgan Chase Co. announced that it’s eliminating overdraft fees on purchases of $5 or less. Also this month, regional banks Fifth Third and U.S. Bank are raising their overdraft fees for multiple overdrafts and overdrafts over $15, respectively. These are just the latest developments in an increasingly complex balancing act for banks, which [...]

How to catch a 'Phish'

  Their names may sound funny but their financial consequences are not: “Phishing,” “smishing,” “vishing” and “pharming” are just a few of the ways criminals gain access to personal information via your computer or smartphone. If you’re not careful, identity thieves can use harvested information to open fraudulent bank or credit card accounts, take out [...]

PNC to Settle Overdraft Lawsuit

In order to settle a lawsuit for alleged manipulation activities related to overdraft fee, PNC Bank, a unit of PNC Financial Services Group Inc. ( PNC ) has agreed to pay $90 million, according to a Bloomberg report. This lawsuit, pending before U.S. District Judge James Lawrence King in Miami, is part of a litigation [...]

PNC to Settle Overdraft Lawsuit

In order to settle a lawsuit for alleged manipulation activities related to overdraft fee, PNC Bank, a unit of PNC Financial Services Group Inc. (PNC) has agreed to pay $90 million, according to a Bloomberg report. This lawsuit, pending before U.S. District Judge James Lawrence King in Miami, is part of a litigation comprising 30 [...]

You won't be left out of pocket, firms assured

By David Elliot Wednesday, 27 June 2012 Businesses are being advised to visit their local Ulster Bank branches if they aren’t able to withdraw cash. It says business customers should take photographic identification and account details or, if they also hold Ulster bank credit cards, use the cash advance service for which the bank said [...]

JAMES CONEY: Abandon NatWest after computer failure at bank

By James Coney PUBLISHED: 18:28 EST, 26 June 2012 | UPDATED: 03:52 EST, 27 June 2012 The utter chaos caused by NatWest’s catastrophic computer failure last week inadvertently highlighted one thing — how few of us actually change bank accounts. I really don’t know why anyone banks with NatWest — in my eyes it’s been [...]

NatWest, RBS banking problems could continue for weeks

Customers of Royal Bank of Scotland (RBS) or one of its subsidiaries, NatWest and Ulster Bank, could continue to face problems related to its IT glitch for weeks to come, the Financial Ombudsman Service (FOS) has warned. David Cresswell, spokesperson for the FOS, told the BBC the knock-on effects would take longer to identify and [...]

Is the end of free banking imminent?

The UK is one of few European countries that offers ‘free’ banking. In most other places individuals have to pay for everyday banking transactions such as paying money into their account or transferring money to another account. However, the days of free banking here in Britain could be numbered and some would argue that we [...]

UK banking software glitch delays payments, bills

LONDON (AP) — A British banking group says it has almost fully cleared up a weeklong banking glitch which delayed posting credits and debits to millions of customers with its NatWest and Royal Bank of Scotland accounts. RBS Group said Tuesday it had successfully updated all but 1 percent of NatWest and RBS account balances [...]

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