Current Events and Banking Industry News

Amazon Closes Wallet on WebPay, Setting Oct. 13 Kill Date

September 15, 2014

Users of Amazon’s free WebPay peer-to-peer (P2P) payments system got some bad news recently – the service will shut down Oct. 13. You can still make payments through it until that date, and recipients will [...]

READ MORE

Peer-to-Peer Lending Grows as a Disruptive Force in Finance

September 12, 2014

Before Internet-based peer-to-peer lending came onto the scene around 2006, obtaining financing meant filling out a lot of forms to apply for a loan, getting dressed up and going on bended knee before a banker. [...]

READ MORE

Join NerdWallet’s TweetChat on Credit Unions and Financial Literacy

September 11, 2014

Join us Monday, Sept. 15, at 11 a.m. PT for a one-hour TweetChat (using hashtag #CUFinLit) discussing the various ways credit unions can, should and do help raise the level of financial literacy among high [...]

READ MORE

Freshmen Beware: That Mascot-Bearing Debit Card May Be a Loser

September 11, 2014

Students heading to college this fall should look beyond debit and credit cards they may be offered on campus, particularly those that sport a school’s logo – they’re not always the best deal and some [...]

READ MORE

Checking

Is Overdraft Protection Must-Have Coverage?

August 21, 2014

You don’t have to be broke or even bad at managing your money to occasionally overdraw your bank account. With 90% of American adults using checking services, overdrafts are relatively common. Despite this, new research [...]

READ MORE

P2P Online Payment Systems Cut Costs and Hassles

August 4, 2014

For better or worse, new technology makes sticking your friend with the restaurant check or shirking your share of the monthly bills much harder these days. As using person-to-person (P2P) online payment systems mean moving [...]

READ MORE

New Account Bonuses Draw Bank Hoppers Trying to Cash In

July 25, 2014

Gone are the free thermoses and knife sets that once rewarded new checking or savings accounts. Now, banks and credit unions are using cash to attract depositors. The incentives may convince some people to switch [...]

READ MORE

The History of Bank Accounts

June 16, 2014

Opening savings and checking accounts at retail stores seemed like a radical idea in 2012 when American Express and Wal-Mart launched Bluebird accounts. Today, making deposits and cashing checks at one of 4,000 Wal-Marts (deposits [...]

READ MORE

Rates

Alternatives to Jumbo CDs

July 10, 2014

Getting a jumbo certificate of deposit (jumbo CD) from a bank used to be an attractive option for many people looking for a risk-free way to invest a large amount of savings. But today, because [...]

READ MORE

When to Consider Getting a CD for the Kid

June 30, 2014

Instilling a sense of financial literacy in children is a valuable life lesson. Having a piggy bank is a good start for teaching the young ones about saving, but as your children get older and [...]

READ MORE

Rising-Rate CDs Explained

June 30, 2014

Investors in certificates of deposit (CDs) typically give up the flexibility to move funds freely in exchange for higher interest rates than they can get on savings accounts. But with rates for CDs near record [...]

READ MORE

Who Uses Certificates of Deposit Anyway?

June 20, 2014

Since interest rates on certificates of deposit (CDs) have dropped during the past few years, a decline in popularity for the savings instruments should come as no surprise. However, this begs the question: Who still [...]

READ MORE

Banking FAQs

Personal Checks Ran Out? There Are Actually Alternatives to Reordering

August 18, 2014

Even though personal checks accounted for less than $20 billion in U.S. transactions in 2012 – down from $40 billion in 2000 – many people still rely on that old-fashioned payment method, particularly in certain [...]

READ MORE

Subprime Auto Loans: Boon or Bane?

August 12, 2014

For consumers down on their luck with a checkered borrowing history and who need a car, subprime auto loans sound promising: they’re easy to get even for people who have a low credit score, are [...]

READ MORE

Can I get an RV Loan at a Bank or Credit Union?

August 7, 2014

Summer is here, and that means vacations, campouts and, of course, road trips. But before you hit the open road or set out on a camping adventure, you may want a recreational vehicle. And before [...]

READ MORE

Learning Personal Finance Lessons Your Parents Actually Skipped

July 31, 2014

Parents have a long list of lessons to teach their children, from tying a shoe to the purpose of a curfew. Perhaps money management didn’t make the cut in your childhood curriculum. While almost three-quarters [...]

READ MORE