Manage Your Benjamins

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Personal Finance
Daily ATM Withdrawal Limits at Twenty-Two Banks

We have assembled a list of the daily limits on the amount of money that can be withdrawn from a bank account at twenty-two different banks. We have included some of the largest retail banks as well as an assortment of online banks.

Adam Rust
Man making an ATM withdrawal
public policy
Ferguson Relied on Fines and Fees: It Hurt Its Finances

Wall Street didn't trust Ferguson's use of fines and fees to pay its debts. Ferguson's poor thinking underscores an inescapable truth – you can run, but you can’t hide. Racism is not based on logic. It is rooted in poor reasoning by people who let fear cloud their thinking.

Adam Rust
Hands Up Ferguson
Rainy Day Saving
Five Steps to Start Saving Money

In this video blog, we can discuss some of the lessons learned by top economists on how to start saving money.

Adam Rust
saving money tips
poor person using lifeline smartphone
Will Facebook’s Libra Help the Unbanked?

Facebook claims that its new Libra cryptocurrency will empower more people into the banking system. Perhaps that is true overseas, but it's not likely in the United States.

Facebook Libra
Person using mobile app instead of branch bank
Man carrying bag of cash earned from debit card cashback rewards
person opening a bank safe deposit box
Person holding cash and a debit card
Image of a file folder with a bank account statement tab
Employer making a choice - payroll card or bank account
The Right Bank Account for Mom-and-Pop Landlords

If you are side-hustling as a landlord, you need to make sure you get a bank account that lets you manage your money as easily as possible. I will review what things you need to be able to do and then show you why a digital smartphone-first account is probably the right choice.

landlord managing money for rental units
best debit cards video blog
chexsystems bank account
best payroll software for small businesses
person choosing high yield savings account
couple saving money on choice of bank accounts
faster payments challenges opportunities
credit scoring
Alternative Credit Scoring Models: Pros and Cons

The next frontier in underwriting is here. Companies are collecting all kinds of data to improve the value of their credit scoring algorithms. The promise is great, but there are reasons for concern as well.

Adam Rust
credit scoring with alternative data sharing
child support being taken from a bank account
worker seeking early access to his paycheck
Save Money on Driving
public policy
Finding the Right Balance with Fintech Innovation

The virtue of fintech starts with its ability to reduce friction. The best innovations solve problems that needed to be fixed. Nonetheless, we need to be very mindful about getting it right.

Adam Rust
fintech data privacy
saving money for retirement
tax filer fills out 1040
money tree from automatic savings
purchase cushion on netspend cards
people surprised by overdraft fees
map of connecticut for payroll card law blog
Bank approves person with bad credit for bank account
credit score factors for bank accounts
public policy
Finding the Credit Invisibles

When our system for evaluating the creditworthiness of consumers fails to account for the payment histories of 26 million Americans, we have a systemic problem. It’s time to utilize payment of utility bills and telephone records to bring the credit invisibles into the financial marketplace.

Adam Rust
Credit invisible person who wants to establish a credit score
A comparison of fees and conditions of Direct Express to Varo Money and Waleteros
Young person traveling who needs a US bank account
Clock ticking on early pay without overdraft fees
Employer with no money needs early pay of wages
Immigrant Bank Account SSN or ITIN
lost debit card to receive tax refund by direct deposit
fintech data consumer protections
Find a Surcharge-Free ATM
chart of count of tax refunds issued by IRS per week
Cost to Send Money to Mexico from US bank account
Mother and Child with Earned Income Credit
overdraft fee amounts
Legal Process Fees at the Big Banks

You need to pick the right bank account when you leave prison. Make sure your bank won't take advantage of you with lots of fees.

Adam Rust
Probation-related fees
money transfer prepaid debit card
tax refund loans
Lowe's Promoting Block Tax Refund Advance Loan

True, a Refund Advance Loan is marketed as free, and technically, it is free. But most people will still pay a fee to access their money. Why is Lowe's involved with RALs in the first place?

Adam Rust
Tax Loan RAL Coupon Lowes
Paying Taxi Cab Driver
Big Data Lending
Financial Stress Under Water
Personal Finance
How to Prevent an Internet Payday Lender from Debiting Your Checking Account

Internet payday loan lenders will ask you to grant them access to your checking account. It is the only way they can collect. If you believe that the lender intends to withdraw funds that you do not owe, then your only option is to close your checking account. Here's what you must do.

Adam Rust
Close checking account from payday lenders
The Day the CFPB Turned its Back on Veterans

In its consent order against Mark Corbett, the CFPB demonstrated how someone could create real harm to our veterans. But when it only applied a penalty of $1, the CFPB failed to do its duty.

Adam Rust
Veteran Saluting Flag
overdraft disclosure
photo check deposit
FDIC Insurance
bank accounts for re-entry from incarceration
Mental health financial stress
prisoner work release
32 Tips to Save Money

Bottom line – the best solution for most people will not be to earn more, but to spend less.

Adam Rust
Saving Nest Egg
fired worker last paycheck
FTC Settles with NetSpend Over Blocked Accounts

A class action lawsuit against NetSpend has been settled. Approximately 430,000 account holders will share $10 million in refunds as a result of a settlement with the FTC.

Adam Rust
NetSpend FTC settlement
check cashing
Paycheck fraud: Stop Payment Fees and Holder in Due Course

If your worker lies about losing a paycheck, it may be a part of a costly scam. If he or she goes ahead and cashes the check, employers might owe a stop payment fee, an insufficient funds fee, and the full face value of the check.

Adam Rust
Worker check fraud
Sole Payroll Card
vault preventing people from getting a bank account
Hispanic couple spending money
woman using laptop to conduct personal finance
installment loan trap add-ons credit insurance
How To Use a Debit Card
Buying Gas with a Prepaid Debit Card

If you attempt to use a prepaid debit card to buy gas at a pump, your card may be declined and your balance may fall to zero. Here's how to avoid that problem.

Adam Rust
Buying gas at the pump
Retiree Debt
Personal Finance
How to Use Prepaid Debit Cards for Envelope Budgeting

I like the envelope system. It works. But it is cash-only. The prepaid debit cards with sub-accounts maintain its best features but give a person the convenience of digital transactions.

Adam Rust
Person using the envelope budgeting system
Woman paying online with a debit card
Small business owner using direct deposit