The Overdraft Expert

Back in December, I listed my personal finance resolutions for 2010. Among them was to get a better interest rate at a better bank. On Tuesday, I received an e-mail from my bank, Chase, offering me an upgrade to the new Chase RealCash Debit Card. The card offers up to 3 percent cash back on everyday purchases like groceries, gas, coffee and fast food.At first glance, the bank’s offer sounds great. I use my debit card every single day, sometimes multiple times a day. With an interest rate at .01 percent on my savings account and zero on my checking account, you can imagine why I’d want to earn some money this way.

via Seeking the Best Checking Account Rewards – Bucks Blog – NYTimes.com.

The Question: I just got a notice from my bank, Huntington, that they are going to stop covering overdrafts for debit cards. I didn't ask for any change, and I haven't been overdrafting my account. My branch said they're doing this for everybody. I don't understand.

via Watch out for change in debit card and ATM overdraft fees: Money Matters | cleveland.com.

When Intuit last year announced its acquisition of Mint.com, the popular online money-management and budgeting tool, I opined here that Mint could benefit from adopting some features from Intuit's Quicken Online. Mint was sexier than Quicken Online—and a far less clunky than the original Quicken software. But, as noted in a Consumer Reports Money Adviser report on online budgeting tools, it lacked an important feature present in Quicken tools: the ability to account for yet-to-clear transactions. For anyone who wants to prevent a bounced check, this feature is a must.

via Consumer Reports Money & Shopping Blog: Review: Mint.com reveals what’s really left in your bank account.

An Atlanta couple has found themselves with their savings wiped out after their bank, Wells Fargo, cleared out their checking account in order to pay a piece of what bank officials maintain is an outstanding student loan “Suddenly, Bank Account Was Gone,” The Atlanta Journal-Constitution, May 1, 2010.After Hope and Matt Hughes had problems trying to make a purchase with their debit card last month, they discovered that Wells Fargo had cleaned them out, withdrawing $4,059.82 — everything they had — from their checking account. They were also hit with $385 in overdraft fees for debit-card purchases they had made on the day their checking account was emptied.

via Wells Fargo Empties Customer Checking Account to Pay Delinquent Student Loan : Student Loan Blog by NextStudent.

Historically, Mother’s Day is a holiday that gives a boost to businesses, even in hard times. Florists, spas, and gift shops traditionally reap the rewards, but with the economy still in “rebound mode” payday loan shops are also advertising Mother’s Day specials.

via Payday Loans One Source of Quick Cash for Mother’s Day | MyBankTracker.com.