Following a study on overdraft fees The Pew Charitable Trusts are encouraging the Consumer Financial Protection Bureau (CFPB) to consider limits for customers. About 84% of the largest banks allow consumers to overdraw their accounts when they lack sufficient funds to cover a transaction. The CFPB found that the median transaction amount of purchases that…
CardFlash News Briefs: CFSI (study); XPRESSBUY (Visa); ACI (TransferWise); and INTELLICHECK (deal).
A new survey shows the average fee for using an out-of-network ATM rose four percent over the past year to a record $4.52 per transaction.The average overdraft fee also set a new record ($33.07) and is up nine percent since 2010.
CardWeb.com’s CardPixes database of more than 7,000 images today features the Wells Fargo Cash Back College Visa Card.
With a highly banked population and a reputation around the world for being fiscally responsible, a new survey reveals that many Canadian consumers face challenges with the current ways they manage their finances, budget and pay for goods. As a result, Canadians from coast to coast are considering new financial tools to help them solve these problems and take control of their financial lives.
CardWeb.com’s CardPixes database of more than 7,000 images today features the Chase United MileagePlus Explorer Visa card.
Almost 56% of millennials would switch from their current bank for an account that did not automatically pay overdraft items for a fee. Also, while online banking is the preferred money management channel for all segments analyzed, millennials are three times as likely to report that mobile is their preferred channel.
Wirecard has inked CIMB Bank Singapore with a partnership agreement to offer a complete merchant solution to businesses in Singapore leveraging their respective core expertness.
U.S. Bank has inked deal with the American Red Cross’ to be the sole prepaid card provider offering Red Cross staff and clients safe access to emergency money with the U.S. Bank Prepaid Debit MasterCard Disaster Relief Client Assistance and Mission cards.
The Network Branded Prepaid Card Association (NBPCA) and NetSpend urged the CFPB to show restraint in its final rule and avoid imposing overly broad restrictions on prepaid accounts, which could destroy the market.
JetPay has added Ingo Money as a new and convenient funding method to its Money Access Card Prepaid Visa. Currently introduced in a limited geographic region in the mid-Atlantic states, MAC will soon be available nationwide.
Green Dot Corporation (GDOT) supports the CFPB’s newly released prepaid debit card Notice of Proposed Rulemaking (NPRM). Green Dot’s Founder testified yesterday at the CFPB field hearing on the topic and believes that its business will not be materially impacted by the CFPB’s newly proposed rules. Furthermore, Green Dot fully supports the proposed rules that mandate “Regulation E” consumer protections for lost or stolen funds and disputed transactions, including the providing of provisional credits to consumers, and the CFPB’s proposed rulemaking dealing with the new framework for overdraft programs attached to prepaid cards.