Susan Tompor Detroit Free Press Published 10:01 p.m. UTC Aug 8, 2018 Would you want to pull out your debit card when you pick up lunch — or maybe even a prescription — and have it declined if you didn't have enough money in the account? After all, you would avoid being dinged by a $30 or $35 overdraft fee if the bank just said no dice right on the spot. Maybe you'd have enough cash in your pocket — or another piece of plastic, such as a credit card — to cover the purchase anyway. It's one strategy to take on those pesky overdraft fees. Complaints continue to mount over the strings of overdraft fees and the mysterious mind-numbing methods that banks use to process transactions and ultimately push some people into incurring even more fees. It's because of overdraft rules that can be all over the map at different financial institutions. Things are so bad that two Senate Democrats want to ban overdraft fees on debit card transactions and ATM … [Read more...] about Rising checking account overdraft fees: How to avoid getting punched
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Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page By Michelle Singletary Washington Post May 25, 2018 WASHINGTON — With the steep cost of college, lots of grandparents feel the need to help cover some of the expenses.One way to assist is by contributing to a tax-advantaged 529 college-savings plan. Earnings in the account are tax-free if used for qualified expenses.But for grandparents, there can be a catch to your generosity. The Free Application for Federal Student Aid (FAFSA) looks at income and assets to determine how much parents and a student can contribute to their education expenses. Advertisement A 529 owned by a grandparent doesn’t get reported on the FAFSA. However, once funds are withdrawn and used to pay for college expenses, it’s considered income to the student and has to be reported the following year on the FAFSA. With this additional nontaxable income, the student may … [Read more...] about Should grandparents open a 529 savings plan to help with college costs?
Many more credit unions offer free checking accounts than banks, according to a new Bankrate report; 82 percent of credit unions offer free checking accounts to everyone, compared with just 38 percent of banks. Credit unions are also the clear leaders when it comes to overdraft fees, which average $28.20 at credit unions and $33.38 at banks. “Credit unions have a much higher instance of free checking, much lower fees and much lower thresholds to avoid a fee,” Greg McBride, CFA and Bankrate’s chief financial analyst, said in a statement. “Credit unions should absolutely be included in your search for an institution as a price-sensitive consumer.” An area where credit unions align very closely with banks is ATM surcharges. Ninety-two percent of the credit unions in Bankrate’s survey charge non-members who use their ATMs, versus 99 percent of banks. The most common fee for each type of financial institution is $3. There’s also a separate ATM … [Read more...] about Report: More Credit Unions Offer Free Checking Accounts
CLEVELAND, Ohio -- A computer hacker hit Malley's Chocolates two weeks before Easter and stole credit and debit card information belonging to 3,400 customers. The Brook Park-based candy icon started notifying affected customers last week by mail. The data breach affected consumers who made purchases online, not those who bought items in one of Malley's 23 Northeast Ohio stores. Consumers are encouraged to notify their banks and cancel their cards immediately -- especially in the case of debit cards because those are linked directly to people's checking accounts. "It was awful," Malley's Chairman and co-owner Mike Malley said in an interview. "We take our customers' privacy and security very seriously." Malley said the company learned something was amiss after it was contacted by two customers in two days in March and said they'd had fraud on the cards they used for online orders. Malley's experts confirmed a breach and the company shut down its website for four days while forensic and … [Read more...] about Malley’s Chocolates’ website hacked, 3,400 online customers’ card information breached
Share This Story! Let friends in your social network know what you are reading about Facebook Email Twitter Google+ LinkedIn Pinterest Revenge of the travel industry: Online reviews of you All those one-star reviews you left for hotels and restaurants were bound to come back and haunt you. Sent! A link has been sent to your friend's email address. Posted! A link has been posted to your Facebook feed. Join the Nation's Conversation To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Christopher Elliott, Special to USA TODAY Published 6:00 p.m. ET May 6, 2018 Facebook Twitter Google+ LinkedIn Tips and tricks all travelers should know Fullscreen Posted! A link has been posted to your Facebook feed. How to write an airline consumer complaint: 1. Be precise. Include details such as your confirmation code, flight number and travel date. 2. Cut the drama. When you claim that your … [Read more...] about Revenge of the travel industry: Online reviews of you