Remember when Forrest Gump reminded us that “stupid is as stupid does?” When Bank of America and Chase dropped free checking for existing customers, they did it all at once. In this manner, the negative publicity and resulting media stories came and went within a day or two. So, why would senior management at Wells […]
What are the odds that this time next year we’ll be reading an article with a headline that goes something like this: “Free Checking Didn’t Disappear After All.” This came to mind after reading an article about overdraft protection that was passed to me by a colleague this morning. Appearing in the money blogs section […]
This is a very informative article on free checking profitability from Bob O’Meara, director or research for the Raddon Financial Group. O’Meara takes a closer look at the impact of NSF fees, debit card interchange fees, and spread income have on free checking profitability. The recent overdraft opt-in legislation impacting NSF fees is having some […]
Newspaper ad for Washington Mutual’s free checking account offering free checks for life, free ATM cash withdrawals, and one overdraft or bounced check fee waiver.