US Banking System

The current generation of youngsters does not believe in using cash for any of their purchases. They would rather pull out their debit cards and let the retailer use the swiping machine to pay for their purchases. Between debit cards and school and college ID cards, they have grown up without understanding many of the nuances of the banking industry. Thanks to their ignorance, most of them will not even understand when the banks are swindling them off their hard earned money in the form of newer charges and fees.

One of the largest banks in the United States, the Bank of America, has recently made an announcement stating that customers who hold an account in their bank and have debit cards will be charged a monthly fee of $5 starting 2012.

Read full post…

With the recent news that in the near future most banks will be adding a debit card fee to any account with a debit card, you might be looking for a way to avoid those new fees.  One way you may avoid fees is to use the prepaid card from Western Union.  This card will allow you to avoid the new fees attached with debit cards, and other fees as well.

One of the greatest benefits of the Western Union Prepaid card is that the fees for this card are very minimal.  There are no overdraft fees, or fees for late payments.  There are no monthly maintenance fees and you won’t be charged a fee for a purchase transaction.  Other prepaid cards, like the Mango debit card, charges you a monthly fee, as well as fee for checking your account balance through their customer service.  The Western Union Prepaid card doesn’t have those fees.  You can check your balance through an automated customer service or with live customer service without being charged.  Fees that will apply to this account are for checking your balance at an ATM and withdrawing money from an ATM.  Plus, you will be charged a fee if your card is inactive for over one year and for loading money onto your card through an agent location.

Another great thing about the Western Union Prepaid card is you are in total control of how much money you can spend.  You can track your balance online, but ultimately you can only use as much money as you have loaded onto the card.  Loading money onto your prepaid card is easy and can be done in four different ways.  You can take cash to an agent location, but remember you will be charged a fee, have your payroll check directly deposited onto the card, through a Western Union money transfer, or transfer money from your bank.  Each of these ways makes it easy to add money to the card, but allows you to only add as much as you feel you can manage.

The prepaid card through Western Union is offered through MasterCard, which means this card is accepted wherever debit and MasterCard are accepted.  Plus, if your card is lost or stolen, you can relax knowing that your money is protected through the Zero Liability policy issued through MasterCard.  You won’t be charged for the unauthorized purchases as long as you contact the card issuer immediately.  You will be charged to replace the lost or stolen card.

With banks adding fees to debit cards to make some extra money, the Western Union Prepaid card is a fee free way to still have a debit card.  Applying for this card is easy and can be done online, through the Western Union official website.  An added bonus of applying for this prepaid card is that activation of the card is also free.  Don’t sit around and wait to be charged for simply using your debit card, apply for the Western Union Prepaid card now and take advantage of this low fee card.

Don’t forget to save your money and put it in a money market account?  Are you getting the best interest rates on your savings?

Barclaycard has thrown down the gauntlet to its rivals by increasing the 0% period offered on its Platinum Balance Transfer Card from 20 to 24 months – the longest-ever deal of this kind.

The move came after rival Halifax launched a new deal also offering 20 months at 0% and gives Barclaycard a margin on similar cards from companies such as Virgin and MBNA.

Here, we take a look at the small print to see if this could be the right card for you…

The new Barclaycard Platinum Balance Transfer Card offers new customers the opportunity to pay 0% on balance transfers for an incredible two years, after which they pay a representative APR of 17.9% (variable).

The introductory offer is subject to a balance transfer fee of 2.8%, although you will have to pay a higher fee of 3.2% if you don’t move your existing debts over within 60 days of taking out the card.

In addition to the 24 months at 0% on balance transfers, you also get three months at 0% on purchases.

In comparison, the Halifax Balance Transfer Credit Card that prompted Barclaycard to lengthen its 0% offer to this unprecedented level offers 20 months at 0% on balance transfers with a 3.0% balance transfer fee and a representative APR of 16.9% (variable).

It too charges 0% on purchases for the first three months, although the balance transfer offer is only available on amounts of up to £3,000.

It is important to remember that the Barlcaycard Platinum Balance Transfer card carries a representative APR of 17.9% (variable), making it essential that you clear all your debts before the 0% period comes to an end.

And while the balance transfer fee paid by most customers is lower than Halifax’s at 2.8%, you must meet certain conditions to qualify for this charge.

This is because the official transfer fee is 3.2%, with only those making balance transfers within the first 60 days receiving the 0.4 percentage point refund that brings it down to 2.8%.

If you already have a Barclaycard, meanwhile, you will not be able to transfer any debts across to take advantage of this new deal.

Bear in mind too that this offer is likely to prove extremely popular and therefore may not be around for long, so if you are interested you shouldn’t hang around.

This is the market-leading balance transfer card currently available, offering a whole four months more than its closest competitor.
This makes it a great choice for consumers keen to avoid paying interest on debts built up elsewhere – as long as they are not held on another Barclaycard card.

To get the most out of this offer, however, you must be prepared to transfer all the debts you want to switch across within the first 60 days.

It is also vital to clear the balance in full within the two-year period to avoid being hit interest at the representative APR of 17.9% (variable).

For those who have been keeping abreast of the credit card war and holding out for the best possible deal, it is worth pointing out that there are now signs the balance transfer battle may have reached its peak.

It may therefore be worth acting now to take advantage of the best offers.

Each time you use your Discover Card between now and Dec. 31, 2010, you’ll be automatically entered to win daily prizes and the grand prize of $1 million to be awarded on the final day of the year.
The promotion is called the It Pays to Discover Everyday Giveaway, and awards 75 daily prizes: one $500 [...]

If you’re going abroad on holiday this year, it’s well worth considering a prepaid card. You may wonder why if you’ve never used one before and don’t really know what they are. Well wonder no more, we’ll explain all.

A prepaid card can be used instead of a credit or debit card, but the reason why they can be a great option for those travelling overseas is that they are often significantly cheaper.

Why would I use a prepaid card abroad?

Credit and debit cards are often laden with charges for overseas spending – unless they are cards specifically designed for foreign use.

Read full post…

Bank rates may be out of date. Please check bank websites for current rates.

TD Bank currently has a bank deal for TD Bank debit card holders.

Read full post…