NetSpend is hiding behind a regulatory technicality to put overdraft fees back on its cards.
NetSpend is hiding behind a regulatory technicality to put overdraft fees back on its cards.
How being late on child support influences your finances - including what it means to have your wages garnished or to have an attachment levied on your bank account.
A detailed review of the costs associated with using some of the most well-known prepaid debit cards. We frame the question for a person who might use a prepaid debit card to do most of his or her banking. When necessary, our customer uses check cashers and money loading services. We also provide a few alternatives that offer more value.
This 2-minute video has a step-by-step explanation of how you can get a Varo Bank Account.
Before you sign up for the new Green Dot Unlimited Cashback VISA Card, you should do the math to determine if it is really the best cashback option for you. Chances are, it is not.
My list of current checking account bonus incentives for September 2019.
We have a list of six banks that will let you access your pay up to days before payday. Additionally, we discuss how much you will spend to have one of these choices.
Banks continue to reduce the size of their branch footprints. I've collected data from 2019 that shows that more than one thousand branch locations will be shuttered. Interestingly enough, many of the casualities will be the branches inside the local grocery store. I list the number of closings and openings for each state.
We're seeing bank branches disappear at the same time that a number of new financial institutions have brought some wonderful bank accounts to the AppStore.
We have assembled a list of the daily limits on the amount of money that can be withdrawn from a bank account at twenty-two different banks.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.
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.
In this video blog, we can discuss some of the lessons learned by top economists on how to start saving money.
We ought to be working together. We are serving the same people.
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.
I think we will see a time when digital banking becomes the channel of choice for most consumers.
Although there used to be more debit cards with real cash back rewards programs, there are still a few out there. Check out our ratings for seven well-known cash back debit cards.
The thirteen steps you will need to take to open a bank account online. Relax, it only takes a few minutes.
A simple, step-by-step explanation of how to transfer cash onto your prepaid debit card with a MoneyPak.
How to find and then send a bank statement from inside your account app if you are using either the Varo Money bank account or the Empower bank account.
What should an employer do if one of its workers won't accept the company payroll card?
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.
WiseWage has the best debit cards. Because banking should work for you, not just for your bank.
After ChexSystems: The Best Fresh Start Bank Accounts for People Who Need a Second Chance
A few key facts for small business owners that want to pay workers with direct deposit: What its like working with Quickbooks, what information you need, and a list of few best-in-class alternative payroll software choices.
Our list of the best online savings accounts available to consumers as of June 2019.
Shop around before you get a NetSpend card. You can save a lot of money.
Next week, the US Faster Payments Council kicks off its first round of meetings in Chicago. What is the future of faster payments in the United States?
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.
People who owe on their child support hesitate before they open a bank account.
There is a considerable demand among low-wealth workers to gain access to their accrued earnings. A variety of new apps are making this a possibility. How should we think about their product characteristics?
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.
Americans are not saving enough. What are some principal reasons behind their struggles?
There are fewer returns so far this year. More people are doing their own taxes. Refunds are smaller. People are using direct deposit more and more often.
You can grow a money tree. It just takes some time and a lot of persistence. I suggest you try to make savings an automatic thing. Put your savings on cruise control.
NetSpend has decided to opt out of offering overdraft on its prepaid debit cards. Stay tuned for something new - like a demand deposit account with optional overdraft services.
On April 1st, the CFPB's new prepaid card rule becomes the law of the land. NetSpend, the company that earns $80 million per year in overdraft fees, will have to stop.
Connecticut’s insistence on three withdrawals is an outlier, and given how the economics of payroll cards work, it probably is the reason that few payroll card providers will offer their products in the Nutmeg State.
Some people think they cannot get a bank account if they have bad credit. I am here to tell you that you can get one, even if you are listed on ChexSystems.
How to understand what data the credit bureaus use to determine your credit score.
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.
Consumers should understand some of the shortcomings of the Direct Express Card. We compare some of the better options out there.
Employers should expect to have to provide some guidance to J-1 workers about how to get a bank account.
Financial health for everyone means reducing the use of overdraft fees and high-cost credit to satisfy short-term emergency expenses.
Living from paycheck-to-paycheck is hard, but if workers could access their pay early, fewer would have to resort to high-cost short-term credit.
Latino immigrants want to protect their Social Security number. However, if you have an SSN, you must use it when you apply for a bank account.
The IRS can change where it sends your tax refund. Contact them with your new bank account details.
The opportunity for fintech to improve financial health is real. Unfortunately, innovation outpaces regulation. We need to articulate a fintech regulatory regime that allows people to benefit from technology without compromising their privacy.
Answers to a few of the questions that people asked me this week: transferring money, understanding when banks pull credit, and how to use surcharge-free ATMs.
And Friday may be National Tax Refund Day! Let's review the details on why.
You can save money by sending dollars internationally from within accounts held at the same bank. If not, Wal-Mart may be your best bet.
Are you surprised to hear that banks earn billions in overdraft fees every year?
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.
How you can manage to transfer money inside an app from a debit card.
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?
We haven’t found a fix for some payment situations.
We need to be careful with the use of big data in loan underwriting.
With the right bank account, you could receive pay early by direct deposit.
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.
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.
The CFPB's new rule on prepaid debit cards has compelled NetSpend to terminate its overdraft protection service. Relax - because there is a card out there that will let you overspend for free.
It depends. Every bank has its limit, but who you are and what you are depositing is also a factor.
Explaining the meaning of the pass-through deposit insurance - the primary backstop used for prepaid debit cards.
When a person returns from incarceration, he or she should sign up for a bank account.
When people are struggling with their finances, it can undermine their mental health.
The things I learned about money when I spoke with some inmates at a federal correctional facility.
Bottom line – the best solution for most people will not be to earn more, but to spend less.
A review of how states regulate the final payment of wages when workers leave their jobs.
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.
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.
Why payroll cards can help solve the problem of the unbanked.
Your bank has reasons for turning down some applications for checking accounts.
Una guía para ayudarte a hablar de dinero en español.
A glossary of financial terms in English and Spanish.
A national research firm provides details on the loans offered by non-bank lenders.