Every once in a while, we like to survey banks on a particular topic and report back to our readers on how much the banks differ. This month we decided to compare how much banks charge their consumer customers for sending or receiving domestic wire transfers.
We surveyed ten different banks with the goal of getting a mix of large and small, and both branch-based and online-only banks.
In general, it appears fees for sending a domestic wire transfer are ...
Ever since online banking was first introduced more than 15 years ago, security of financial data has been a concern. And as hackers have become increasingly sophisticated at stealing information, banks have been forced to continually develop new ways to stop them.
Although many of the advances in security technology are needed, some policies surrounding passwords have increasingly become a pain in the neck for consumers. And now, a new study from researchers at Microsoft concludes that some of these ...
Last week the Federal Reserve said that it was leaving its benchmark interest rate near zero where it's been for the past 16 months. Given that interest rates have been so low for more than a year and that the economy has finally started to improve, some analysts have started to wonder whether the fed will soon change its policy and start raising rates to more normal levels.
We at BankFox wish we could predict the future – it would ...
A recent viral video created by the Huffington Post as part of their Move Your Money campaign has consumers reconsidering whether they should do business with large banks that received federal bailout money.
The video, which has been viewed almost a half a million times on YouTube, overlays headlines and news segments from the current financial crisis with clips from It's a Wonderful Life, a movie about a depression-era community banker who makes personal sacrifices to keep his town ...
About 18 months ago, bank failures were at the center of the news as storied financial institutions like Washington Mutual, Wachovia, Lehman Brothers, and Merrill Lynch all disappeared as standalone organizations. Media outlets were abuzz with news of these epic failures or last-ditch mergers.
Today, although bank failures continue to happen, they have become commonplace and less newsworthy, especially as there have been fewer large banks in the mix.
But that doesn’t mean that banks are out of the ...
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