MIDDLEBURG HEIGHTS, Ohio -- Fraud, Normandie Boulevard: A woman applied for a job earlier this month via an email. The responding businessman sent her a check for $3,885 via the U.S. Postal Service to book flights and hotels. She deposited the check into her bank on May 16. The bank found the check to be fraudulent and removed the money from her account. She later received a letter from her bank stating that the check was bad and that it planned to close her account. The bank did close it May 3. The victim, who realized the transaction was a scam, tried opening a new checking account with another bank, but was denied due to her involvement in the fraudulent check. She had to obtain a police report to have her name removed from the ban list and to open a new account. Theft, Engle Road: A patron at Pump It Up on May 20 placed her wallet inside the glovebox of her unlocked car. She had removed cash and a credit card from it prior to placing it there. She returned to her car about two … [Read more...] about Scam affects victim’s ability to open new bank account: Middleburg Heights Police Blotter
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Where you can still find free checking accounts
Free checking accounts are getting harder to find at large brick-and-mortar banks. While they typically offer ways to avoid monthly maintenance fees, such as maintaining a minimum balance or direct deposit, these options aren't always easy for many. And even if you can avoid monthly fees, it may not last. That was the case for many customers of Bank of America (BAC). In January, eBanking checking accounts were converted to Core checking accounts. With eBanking, an $8.95 monthly fee could be avoided if customers used e-statements and self-service options for making deposits and withdrawals. Core checking requires customers to either maintain a $1,500 minimum balance or to make a monthly direct deposit of at least $250 to avoid a $12 monthly fee. This conversion of checking accounts has created a backlash. More than 379,000 people have signed a petition at change.org asking Bank of America "to not end their free checking accounts." Fortunately, you can still avoid the fee-laden … [Read more...] about Where you can still find free checking accounts
The high price of having a checking account
Finding a checking account has perhaps never been so complicated -- or expensive. It can cost as much as $800 per year if a consumer makes the wrong choices, such as incurring overdraft fees, according to a new study from WalletHub. Consumers with the least amount of money are often the ones shelling out the most, the study found. The average "cash-strapped consumer," or people whose accounts frequently dip into negative territory and who lack lines of credit or a savings account to provide a buffer, can end up incurring about $470 in annual fees. One rule of thumb when searching for checking accounts that save money is to look at credit unions and online-only banks. "We've actually seen the cost of checking accounts increase over the past couple of years," noted Jill Gonzalez, a spokeswoman for WalletHub. "Usually online-only banks typically have the lowest fees because they don't have the same type of overhead. They have a younger consumer in mind." Those banks … [Read more...] about The high price of having a checking account
Opening a Brokerage Account: Part 1
Opening a brokerage account might seem like a daunting task, but like most things, it pays to come prepared. Your brokerage firm will need a certain amount of information about you to comply with regulatory requirements and to provide you with the best service for your accounts.In the first installment of our two-part series, we lay out the types of personal information you'll need to provide when you open a brokerage account.Image source: Getty Images.New in 2018As of February, when you open a brokerage account or update information related to an existing account, new regulations require your broker to make reasonable efforts to obtain the name and contact information for a designated trusted contact person. So don't be surprised if an investment professional asks you to identify trusted contacts on your accounts. Among other things, adding a trusted contact person to your account puts your broker in a better position to protect you from financial exploitation and keep your account … [Read more...] about Opening a Brokerage Account: Part 1
Amazon pondering checking accounts for unbanked millennials, report says
By Bloomberg | PUBLISHED: March 5, 2018 at 8:56 am | UPDATED: March 5, 2018 at 10:07 am Amazon is in talks with JPMorgan Chase and Capital One Financial Corp. about offering the tech giant’s millions of customers a product similar to a checking account, the Wall Street Journal reported. The target is younger consumers and people without checking accounts, the newspaper said, citing people familiar with the matter. The strategy would help Amazon lower fees it pays to financial firms and give it a bigger window into customers’ income and spending habits, according to the report. The offering, if it comes to fruition, would be yet another link in Amazon’s extensive web of ways to touch every aspect of people’s lives, from food shopping at Whole Foods, to reading or listening to books, streaming music and videos and its Alexa voice assistant. After upending other retail businesses including groceries and health care, banks have long feared they might be next. The … [Read more...] about Amazon pondering checking accounts for unbanked millennials, report says
Bank of America faces backlash for eliminating free checking account
By Deon Roberts, Charlotte Observer Published 6:11 pm, Tuesday, January 23, 2018 Photo: Dreamstime/TNS, HO Image 1of/1 CaptionClose Image 1 of 1 Bank of America has phased out the eBanking account. Bank of America has phased out the eBanking account. Photo: Dreamstime/TNS, HO Bank of America faces backlash for eliminating free checking account 1 / 1 Back to Gallery CHARLOTTE, N.C - Bank of America is facing a backlash over eliminating a free checking account and moving customers into accounts with minimum monthly balance requirements. This month marks the completion of a yearslong phase-out of the eBanking account, which didn't charge a monthly maintenance fee as long as customers received paperless statements and didn't use bank tellers for routine transactions. The bank introduced the account in 2010, at a … [Read more...] about Bank of America faces backlash for eliminating free checking account
Checking Accounts for Seniors
Amber Murakami-Fester, NerdWallet Published 7:58 am, Friday, January 19, 2018 This article was first published on NerdWallet.com. When you’re nearing retirement age, you’ll see plenty of discounts and perks aimed at seniors. Among them: senior checking accounts. Should you get one? The quick answer: not necessarily. What are the perks of senior checking? A senior checking account is essentially a regular checking account that offers features designed to appeal to customers age 55 and older. Requirements and perks vary by bank, but fee waivers and free checks tend to be the top selling points. Here’s a comparison of checking accounts at three major banks: LATEST BUSINESS VIDEOS Now Playing: Now Playing Apple and Google Buses Are Getting Attacked Again Fortune Amazon Announces Price Increase For Prime Memberships GeoBeats Instagram Now Shows When Users Were Last Online Wibbitz Benefit Brow Try-On Cosmopolitan WhatsApp Launches New … [Read more...] about Checking Accounts for Seniors
7-Eleven probe opens new front on immigration
Elliot Spagat, Associated Press Updated 8:20 pm, Wednesday, January 10, 2018 window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: 'taboola-interstitial-gallery-thumbnails-4', placement: 'Interstitial Gallery Thumbnails 4', target_type: 'mix' }); _taboola.push({flush: true}); Photo: Scott Olson /Getty Images Image 1of/4 CaptionClose Image 1 of 4 Pedestrians walk past a 7-Eleven store on January 10, 2018 in Chicago, Illinois. Immigration officials raided nearly 100 7-Eleven stores across the country this morning checking the immigration status of store employees. less Pedestrians walk past a 7-Eleven store on January 10, 2018 in Chicago, Illinois. Immigration officials raided nearly 100 7-Eleven stores across the country this morning checking the immigration status of store ... more Photo: Scott … [Read more...] about 7-Eleven probe opens new front on immigration
APNewsBreak: 7-Eleven probe opens new front on immigration
Elliot Spagat, Associated Press Updated 10:43 am, Wednesday, January 10, 2018 window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: 'taboola-interstitial-gallery-thumbnails-5', placement: 'Interstitial Gallery Thumbnails 5', target_type: 'mix' }); _taboola.push({flush: true}); window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: 'taboola-interstitial-gallery-thumbnails-7', placement: 'Interstitial Gallery Thumbnails 7', target_type: 'mix' }); _taboola.push({flush: true}); Photo: Chris Carlson, AP Image 1of/7 CaptionClose Image 1 of 7 U.S. Immigration and Customs Enforcement agents serve an employment audit notice at a 7-Eleven convenience store Wednesday, Jan. 10, 2018, in Los Angeles. Agents said they targeted about 100 7-Eleven stores nationwide Wednesday to open employment audits and interview workers. less … [Read more...] about APNewsBreak: 7-Eleven probe opens new front on immigration
Woman opens new shop as small-town manufacturing changes [photos]
![Woman opens new shop as small-town manufacturing changes [photos]](https://res.cloudinary.com/demo/image/fetch/w_340,f_auto,ar_3:2,c_fill/http://media-cdn.timesfreepress.com/img/photos/2018/01/04/1515105946_010718d00-socks-2_t1070_h7978a34df6c87c081bb0e5748e4f6cbbc7a71c57.jpg)
Gallery: Woman opens new shop as small-town manufacturing changes FORT PAYNE, Ala. — Inside a squat metal building on the outskirts of Fort Payne, Ala., huge spools of cheerfully colored thread hang like nursery mobiles above rows of blue knitting machines the size of office copiers. It's loud in this part of the mill, and Gina Locklear has to shout to be heard. Her eyes light up as she talks about her newest set of machines, installed last January, that can knit a sock with a seamless toe. It's a capability the mill's older machines don't have. Those were originally built to manufacture white athletic socks, a business that has largely left the country. She watches as a circular bit of machinery lined with 144 needles knits an aqua toe on a coral-and-gray striped sock. The machine spits the finished sock into a bin filled with identical socks. "The sock is knitted and the toe is closed all on one machine," she says proudly. "No bumpy seams. "I've wanted this machine ever since … [Read more...] about Woman opens new shop as small-town manufacturing changes [photos]