Post Tagged with: "fees"

Simple Goes Fee-Free

Simple Goes Fee-Free

by September 9, 2015 at 11:35 am 0 comments

Simple has gone the way of Dwolla — it’s completely fee-free. Simple’s free policy went into effect today. The BBVA-owned banking service has set the standard for ease of use, clean design, and low fees since its launch in 2012. Make that “low fees” into “no-fees” as of today. This morningRead More

Square 1 Bank and What’s Messed Up About Banking

Square 1 Bank and What’s Messed Up About Banking

by June 23, 2015 at 10:06 am 0 comments

If you want to know what’s screwed up about banking, check out Square 1 Bank. Here at Bank Innovation, we decided to do a little experiment. We’ve long covered digital retail banking startups, like Simple and GoBank. But we wondered what options were available for small businesses, like, well, Bank Innovation? SoRead More

Bank of America Admits Its Online Banking System Can Err in Charging Fees

Bank of America Admits Its Online Banking System Can Err in Charging Fees

by June 1, 2015 at 5:49 pm 0 comments

With the renewed focus on fee income now that federal regulators are for the first time tallying the revenue stream, it was particularly interesting to note the tacit admission on Friday that its online banking platform errs on occasion in charging fees. On Friday, BofA, the nation’s second-largest bank, quietly andRead More

Price Still Trumps Mobile Apps When Customers Weigh Switching Banks

Price Still Trumps Mobile Apps When Customers Weigh Switching Banks

by March 26, 2015 at 10:34 am 0 comments

Switching banks is hard — it’s not like switching channels. Lower fees are the main reason customers switch banks, but being young also plays a part. The older you, the more complicated your financial life is likely to be, making switching even more difficult. In an industry obsessed with nettingRead More

Death by 1,000 Cuts: Apple, Facebook and Bank Fees

Death by 1,000 Cuts: Apple, Facebook and Bank Fees

by June 12, 2014 at 2:42 pm 0 comments

Last week, it was disclosed that Apple’s iOS 8 would allow consumers to scan their credit cards for mobile payments. The announcement barely registered on the banking industry’s radar, especially with all the iPhone 6 hubbub. It should have. This is just one more in a series of developments thatRead More

People Have No Idea How Much They Spend on ATM Fees

People Have No Idea How Much They Spend on ATM Fees

by January 24, 2014 at 10:36 am 2 comments

How much did you spend on ATM fees this month? Chances are, you guessed less than half the actual amount, according to research from Personetics. The White Plains, N.Y.-based company, which focuses on the digital customer experience, recently conducted a study of behavior around ATM fees and found that 30%Read More

Why You Should Care That Ally Is Going with Anti-Fee Marketing, Again

Why You Should Care That Ally Is Going with Anti-Fee Marketing, Again

by September 23, 2013 at 10:15 am 1 comment

Today, Ally Bank released its latest round of anti-fee marketing. Bankers the nation over should take notice. Here’s how Diane Morais, deposits and line of business integration executive for Ally Bank, which now has $40 billion of retail deposits, as of the end of July, described the bank’s new marketingRead More

Mobile Banking: To Charge or Not to Charge

Mobile Banking: To Charge or Not to Charge

by July 12, 2013 at 10:03 am 2 comments

Mobile apps are expensive for banks to produce — from $1 million to $5 million according to numbers from last month’s Mobile Banking Summit in Miami. Yet most banks are still offering mobile services for free. Does this make sense? “No one is charging for access,” David Albertazzi, senior analystRead More

VIDEO: The Call for Banks to Improve Disclosures, Overdraft Fee Practices

by June 5, 2013 at 3:59 pm 0 comments

Checking accounts are a “fundamental product” for consumers, but that doesn’t stop some banks from falling short in their disclosures and, more importantly, engaging in abusive overdraft fee practices, according to the Pew Charitable Trusts. Interestingly, this call for improved overdraft practices comes as overdraft revenue drops at financial institutions.Read More

Forthcoming App WINK Aims to Help Bank Customers Avoid Fees

Forthcoming App WINK Aims to Help Bank Customers Avoid Fees

by January 15, 2013 at 9:57 am 2 comments

For many consumers, the task of managing finances and developing smarter spending habits while avoiding overdraft fees remains a challenge. A solution is on its way, and it is called WINK, an app that is being designed to simplify personal finance, according to founder & CEO Matthew Irwin. Watch the company’s  slightlyRead More