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New Overdraft Rules Are Scaring Your Bank
In August, new rules will go into effect preventing your bank from charging you overdraft fees — and your bank is freaking out.
Many banks automatically enroll customers in overdraft services: if you try to make a debit card or ATM transaction without sufficient funds, the bank spots you the money and charges you a fee. (This is different from overdraft protection that’s connected to a savings account.) The problem is it’s usually not until you get home and log into your account that you realize you’ve been charged a $35 overdraft fee for that $3 latte.
How Your Zero-Balance Credit Card Could Cost You
Think you’re avoiding extra fees by being savvy and paying off your credit cards in full every month? Maybe not any more. Some companies, including Bank of America and Citigroup, may start charging credit card holders for not using their cards enough.
Airport Scales May Lie About Your Overweight Luggage
You probably wouldn't demand a do-over on the scale at the doctor's office, but an inaccurate weigh-in there wouldn't cost you a dime. When it comes to weighing your luggage, however, an airport scale that's off can be costly. It's times like these when requesting a re-do makes sense for your bottom line.
Will You Pay $10 to Board Your Southwest Flight Sooner?
Known for its fee-free ways and lack of assigned seats, Southwest has added an unexpected upgrade option that's got people talking. The Early-Bird Check-In costs $10 one-way and buys passengers a spot in line behind Business Select and elite-level frequent fliers but in front of everyone else, including families with small children.
Regular Southwest passengers are used to checking in 24-hours before their flights to score a place in the "A" group and board the plane first, but the new Early-Bird option — available 25 hours before takeoff— might put a snag in these expectations.
Would You Welcome a Charge For Carry-On Bags?
Without fail, every time I'm on a plane I witness a flight attendant shoving someone's over-sized carry-on into the overhead compartment. Checked luggage charges are pretty much unavoidable (unless you fly Southwest), and passengers are trying to skip the extra fee by jamming as much stuff as possible into the biggest carry-on bags. I appreciate the fact that people are trying to save the cash, but I'll admit, the practice does get under my skin when it starts eating up everyone's loading and unloading time.
Avoid These Silly Bank Fees and Save
You're a pro at avoiding ATM fees and finding free checking, but banks are slapping fees on everything from your standard withdrawal at another bank to helping its customers. Yes, that customer service call could come with a charge. Banks are relying on fee income more than ever, so don't be surprised if your institution starts sticking you with a tab for checking your balance.
Travel Tip: Remember to Factor in a la Carte Airline Fees
The introduction of a la carte fees by most major airlines over the past year has gotten mixed reactions. Many customers are peeved at having to pay extra for everything from a checked bag to a blanket, while others point out that the unbundled fee structure means you don’t have to pay for services you don’t use.
Whatever your feelings on a la carte fees, remember to factor them in as you bargain-shop for flights this Summer — what seems like a steal can quickly turn into a ripoff as fees rack up.
Does Your Credit Card Charge an Annual Fee?
There are plenty of cards out there without annual fees, so if your card charges one make sure the reward returns are worth the expense. Does your card charge a fee each year?
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Does Your Credit Card Charge an Annual Fee?
Better Use Your Visa Gift Card ASAP to Avoid Fees
Out shopping this weekend, I happily remembered a prepaid Visa gift card I'd received months ago was nestled in my wallet. I called customer service to find out if a pin had been established, because I'd had the card for about six months and couldn't recall setting one up. The Visa representative gave me instructions for using the card and then told me my balance was $95 — but the card was given to me with a value of $100.
Some Bank Fees Have Outpaced Inflation
A newly released Bankrate study about checking account fees found that the associated fees have reached an all-time high. ATM surcharges increased 11 percent from just last year, going from $1.78 to $1.97, fees for bounced checks rose 2.5 percent to $28.95, and monthly service fees on interest bearing accounts increased from $11.72 to $11.97. According to Greg McBride from Bankrate.com, "Fees have been going up for years.
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