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Wednesday, July 23, 2014 - 9:47 AM
Social Security: Baby Boomers should beware
Thanks for the feedback.  Since I had had my morning cup of coffee (*) at the time of posting, I had overlooked the tone of USA Today's headline.   =)

(*):  decaff, which admittedly begs the question:  "why bother", but I digress...
pearlbrownpearlbrown1,431 posts since
Nov 2, 2010
Rep Points: 6,247
Wednesday, July 23, 2014 - 8:10 AM
Ally Bank Giving Customers Industry-Leading Anti-Malware Software For Free
Ally Bank
I've made use of this perk and installed Webroot. I've been happy with this software so far. In the past I've depended on the antivirus software from my internet provider, but the problem with that is that it makes it more difficult to switch providers.
Ken TuminKen Tumin5,468 posts since
Nov 29, 2009
Rep Points: 125,018
Wednesday, July 23, 2014 - 5:20 AM
Pretty Good
Vantage Credit Union 4 stars (4 stars)
Vantage Credit Union is very flexible. We have our car payment with them. They have excellent customer service and great deals for new customers. We haven't had any difficulties with them yet and recommend them to friends.
HarvHarv1 posts since
Jul 23, 2014
Rep Points: 2
Wednesday, July 23, 2014 - 12:19 AM
Almost Perfect
Capital One 360 4 stars (4 stars)
I signed up with Capitalone360 not long ago on a referral from my sister. So far the service is great.I love their mobile app too. I have a few other bank accounts and they all have some sort of mobile app but none of them are as handy as this one. For the most part I really like my account with them but like almost everything they're not perfect on all front. I have found myself, on more then one occasion, a little displeased with a few aspects of the service. First off, like I said, I haven't been with Capital One long, so believe my surprise when I noticed on two occasions overdraft charges that didn't belong. Once, I understand, but twice, especially in such a short time, was disappointing. Especially since everything was so great otherwise. And it wouldn't have been to bad but when I called the first time the customer service representative I got was rude and not very apologetic about his banks mistake. And the second time, I got a lady who wasn't much nicer. They both fixed the mistake and credited my account but I was definitely unhappy with how they treated me. All in all I still give this bank a good review as everything else has been so good I find myself using this account more then some of the others I have that I've been with for over a decade.
GarGar1 posts since
Jul 23, 2014
Rep Points: 0
Tuesday, July 22, 2014 - 9:29 PM
Hackers Bypass Online Security At 34 Banks---Even Two-Factor Authentication
Where is the link?
ShorebreakShorebreak2,602 posts since
Apr 6, 2010
Rep Points: 14,087
Tuesday, July 22, 2014 - 7:14 PM
5-Year, 2.41% APY CD. Quick Look.
Advancial Credit Union
Advancial Federal Credit Union
5-Year, 2.41% APY CD, $25K minimum
           2.51% APY with $50K
Restricted membership

Posted on Bankaholic by Darci Swisher
cumuluscumulus327 posts since
Jan 16, 2010
Rep Points: 1,548
Tuesday, July 22, 2014 - 7:00 PM
Great bank but needs competent people
PNC Bank 2 stars (2 stars)
I have been with PNC Bank for at least 7 years. I have had great experience with them during the first 6 years. The tellers were super friendly and any question I had got answered very quickly! I never thought I would leave PNC, until one day I was waiting for my child support check and received a $500 deposit. Figuring it was my back child support, I withdrew most of the money and paid some bills. A few days later I went back to take out some more money and the ATM ate my bank card and told me to go inside and see a Customer Service Representative. So I did. The girl was overly rude and stated "I took PNC's money and I need to pay it back now." I told the girl I never stole anything! She proceeded to say it wasn't my money for me to be spending; but didn't want to or couldn't explain how the money got there! After 3 hours of being at PNC, the manager came down and finally explained to me that a teller accidentally put someone's check into my account and it was not my money to be spending. I understand people make mistakes but a $500 mistake is too much of a mistake for me! Needless to say I had to pay the money back. After that, I closed my account and when they asked me why I told them it was their own fault! I just recently learned the same thing happened to my sister-in-law (with PNC and it was for $597).
kriskris1 posts since
Jul 22, 2014
Rep Points: 0
Tuesday, July 22, 2014 - 6:43 PM
Worst Bunch Of Incompetents EVER
Synchrony Bank 1 stars (1 stars)
I have sizable deposits with 6 or 7 online banks. I have never experienced the problems I had with trying to set up an account with Synchrony. I literally spend 90 minutes on the phone over 3 different calls with people who had nothing to give but one lame excuse after another. The last call I just gave up. Now I know the answer to the question "why do they have to offer a bit more interest to attract customers?" Answer: Because nobody in their right mind would go through this for 5 basis points of yield. Do yourself a favor and go elsewhere.
Scott DrumScott Drum1 posts since
Jul 22, 2014
Rep Points: 3
Tuesday, July 22, 2014 - 5:12 PM
So Far, So Good With This Local Bank
Freedom National Bank 5 stars (5 stars)
It was six months ago that I opened a rewards checking account here, and haven't had any problems at all. Their 2.5% rate (capped at 25k) is fairly competitive, and does not require DD or other hoops to jump through :)
Joe SmithJoe Smith2 posts since
Jul 22, 2014
Rep Points: 3
Tuesday, July 22, 2014 - 5:07 PM
Very bad experience
Bank of America 1 stars (1 stars)
I have been banking with Bank of America for quite some time and am counting down the days to closing my account. They charge fees for any little thing you do. Their overdraft protection is filled with fees, basically doing the opposite of what it is intended for. I absolutely hate this bank and cannot wait to end my relationship with them. The customer service is not the worst but there are many things they cannot help with or are not willing to.
TLZTLZ1 posts since
Jul 22, 2014
Rep Points: 0
Tuesday, July 22, 2014 - 4:59 PM
No Response On New App Status
Ally Bank 1 stars (1 stars)
It appears that Ally has trouble in the "new accounts" dept. I applied for one on July 2nd, and was told that they would respond in three to five days. Still no word from them. I tried to get an update from them a few times, then gave up.
What a lousy bank!
Joe SmithJoe Smith2 posts since
Jul 22, 2014
Rep Points: 3
Tuesday, July 22, 2014 - 4:11 PM
Shows As 0.90% APY But Its Not
Barclays 2 stars (2 stars)
I have a savings accounts with Barclays and I was just monitoring how they calculate interest. I tried to check the calculation and to my surprise it was not matching. When I tried in all the possible ways of calculating interest and it didn't match to what I was getting, I called customer care. I asked them to help me understand the calculation and I was told that the calculation is all correct because the rep was sitting somewhere is far east and had a pre-fed calculator to check the math. I requested to explain me the formula but he failed. Then I asked for a manager and when i spoke to the manager, I came to know that the 0.90% APY is actually not 0.90% APY its 0.888896% APY and that my calculation on the amount is right. They have rounded it to display 0.90% APY.

THIS IS REALLY SHOCKING.
ricklawtonricklawton1 posts since
Jul 22, 2014
Rep Points: 3
Tuesday, July 22, 2014 - 3:52 PM
The Place to Save
Ally Bank 5 stars (5 stars)
I've had an Ally Bank saving account for almost two years and it's the place for saving money. Their interest rates are the best I've found. The customer service is excellent. I try to do everything myself online but the times I've needed them they are there no matter the hour. My only regret is I did not start saving with them sooner.
JNorthcuttJNorthcutt1 posts since
Jul 22, 2014
Rep Points: 2
Tuesday, July 22, 2014 - 3:03 PM
Two Of Europe’s Largest Banks Cost The U.S. Billions With Tax Avoidance Scheme
What is it with all the corruption in these big banks?  Barclays should be banned by all savers for taking part in this latest scheme to avoid US taxes.  They were already on my "Do not buy" list due to negative posts I read but I had no idea they were involved in this scheme.  Wonder what they will owe the US?
paoli2paoli21,365 posts since
Aug 10, 2011
Rep Points: 5,984
Tuesday, July 22, 2014 - 12:16 PM
13.1 Million Identity Fraud Victims In 2013.
Aha! Thanks for the additional information on finding that part of the article. Here is the relevant part, for those who might be in a hurry:
[...] Losses resulting from fraud are distributed proportionately between the bank and the customer, says Denis G. Kelly, CEO of IDCuffs.com, a site that offers identity theft services. If you don't report the fraud in a reasonable time, you could face liability for the losses. To keep your checking account safe, "review your account activity on a weekly basis," Kelly says. Check that all bank fees are accurate. And if you spot a transaction you didn't authorize, notify your bank immediately.
ClickClackClickClack25 posts since
Feb 7, 2012
Rep Points: 164
Tuesday, July 22, 2014 - 12:09 PM
401K Mistakes
Sorry if my post sounded snide; I was actually intending it as good-natured ribbing. (I probably should not post anything until I've had my morning coffee.)

To reiterate, you were right to recommend that MarketWatch article, as it has some very good points to consider.
ClickClackClickClack25 posts since
Feb 7, 2012
Rep Points: 164
Tuesday, July 22, 2014 - 11:03 AM
Best Bank To Do Business With.
Summit Bank of Kansas City 5 stars (5 stars)
If you don't feel like your bank is doing its best for you, then its time to make a change. Summit Bank has always looked out for its customers. If you need a loan, options for savings accounts, IRA, CD's, etc. They are a full service bank. We have been using them for years, and choose to go to them because they DID NOT take any type of bailout. We intentionally move out money from banks that did. They have the most knowledgeable and friendly staff. Lets face it you have had money at banks you really didn't trust, that charged high fees, and didn't notify you if there was trouble on the account. You have to be a special group of people to get any praise from me, I expect a lot and they have always done the best. Its worth the change to a bank that cares.
Amy RamsesAmy Ramses1 posts since
Jul 22, 2014
Rep Points: 1
Tuesday, July 22, 2014 - 8:56 AM
$50/$50 Rewards Checking Referral
Consumers Credit Union (IL)
The referral of a new Member to Consumers Credit Union, who opens a Rewards Checking account, can earn you and the new Member each $50.  Refer as many new Members as you like and you can earn $50 for each member who opens a Rewards Checking account.
Cas Saint DenisCas Saint Denis10 posts since
Jun 24, 2014
Rep Points: 36
Tuesday, July 22, 2014 - 8:35 AM
Deceptive Bank
Wells Fargo Bank 1 stars (1 stars)
First, when I signed up for Wells Fargo, I was told I would receive a $50 bonus. I never received this $50 bonus due to hidden conditions upon signup. Second, Wells Fargo charged me monthly fees multiple times for failing to use my debit card a certain number of times due to hidden conditions upon sign up.
GeniousGenious1 posts since
Jul 22, 2014
Rep Points: 2
Tuesday, July 22, 2014 - 7:58 AM
Good Bank
Capital One 360 5 stars (5 stars)
I had an Ing account that was taken over by Capital One 360. At first I wasn't sure how well it would work for me, until I looked through all the paperwork. It's so easy to navigate around and I like the rates. I've even got a checking account with them now. Also setting up my kids' savings accounts was just as easy as setting us up with direct deposit. Overall I've found Capital One 360 easy to set up, navigate around and transfer money around. Love this bank!!
RuthARuthA1 posts since
Jul 22, 2014
Rep Points: 0
Tuesday, July 22, 2014 - 1:27 AM
Slick
Associated Bank 1 stars (1 stars)
I would not recommend Associated Bank to anyone. The reason being is because they have a way of making things very confusing for you, if you are low on funds, and it can help you go under your available funds very easily. They also have new fees that pop up randomly, for certain things that I have never in my life seen a bank charge for, and they'll only charge you these fees if your account is low enough so that the addition of the fee will make it go negative.
Mandi14Mandi141 posts since
Jul 22, 2014
Rep Points: 0
Monday, July 21, 2014 - 1:53 PM
Why Your Fear Of Going Broke In Retirement Will Come True
Savings and investments are very important for all phases of our lives. But as a couple that easily was able to live on my husband's disability check since 1995 while saving my wages while continuing with our IRA's and saving for our future, it taught me that I can I now can live on SS only and still have money left over. I just went on a nearly a 39 day vacation with my friend in my car, and never left the state. Spent some nights in a tent in state parks, some with friends, some in hotels and motels. Saw things in my state that I never saw before. 
I just doubled what I spent so far for the first 6 months of the year, added property taxes and what I spent on this vacation and it adds up to $19,149.86. 
Anyone if they budget can live on very little money. If I round up to $20,000 for spontaneous purchases and expenses during the next 6 months it is still very reasonable considering a vacation of over 5 weeks. 
I think what makes a successful retirement are the choices we make. This $20,000 is over $2,000 less  than I spent last year but last year I  purchased a very expensive solid  cherry dining room table with 6 upholstered chairs. 
I think our saving habits and spending choices while working and spending habits and choices when we retire will determine if we will go broke in retirement. 
Ally6770Ally6770909 posts since
Jan 16, 2010
Rep Points: 2,641
Monday, July 21, 2014 - 1:41 PM
Chase Profits Down 8% But Still Offering
#4  You are right about what I posted.  We have already taken steps to get our last CDs out of Chase at maturity this month and already been to the places we are putting them.  They happen to be IRAs so we are doing "Trustee to Trustee" transfers if all goes correctly.  After that all Chase will have of our money is one checking account which I may put in the new bank I have chosen.  I just need to get up the time to change all the autopays and other funds that go directly into the account each month.    Before I tackle that I want to make sure the IRA transfers go smoothly and I have to decide what CDs to put the money in. 

Please understand that I am not criticizing you are anyone else who "uses" Chase for these purposes since Chase makes it readily available to you.  I just think they treat their dependable customers like crap and then send out coupons for strangers to make money from their accounts.  They should show some appreciation for the people who have been with them for years.  Recently I tested them out with a pitiful $175 coupon for putting in $15,000.00 which was sitting in my Chase checking.  The manager refused to allow me to collect the money since he said it was not "new" money.  It did not come from Chase so where else was I supposed to deposit it but my one checking account?  They failed the test but it was worth it since it gave me the push I needed to close the door on them.  I will not miss being their customer.
paoli2paoli21,365 posts since
Aug 10, 2011
Rep Points: 5,984
Monday, July 21, 2014 - 11:18 AM
Worst Online Bank Ever!
Synchrony Bank 1 stars (1 stars)
Opened this account as a savings avenue for my mother. They would let me transfer funds into it but, weeks later, can't get the money (>$50k) out!!!! Everything we do they have a problem with. Can't link accounts to it, they deny withdrawals through other accounts. We have literally spent over 2 hours on the phone with them and are no where.
mfullmermfullmer1 posts since
Jul 21, 2014
Rep Points: 4
Monday, July 21, 2014 - 10:08 AM
Fees Fees Fees
Chase Manhattan Bank 3 stars (3 stars)
Chase has pros and cons. The in house customer service was always outstanding! However, my two calls placed to the 800 number left something to be desired. On one occasion I asked them to fax proof of payment to a debtor. I was told that they are a bank, not a fax service! The other time I had asked to place a freeze on my account and was told I could only do that at a branch office. So I drove over 50 miles to get to one and found out that is not true.

If your checking is overdrawn, you have until 11pm to make a deposit at the atm, which is nice. The atm's don't require envelopes.

Chase was offering a $100 reward for opening a new account and following a few steps, which I did. After a year or so I had overdrawn my account. They paid the overdrafts and charged me a fee. $37 per item! I was grateful that they paid the overdrafts to a point. Unfortunately, I had several auto pays set up and this had a snowball effect. I asked them to make my account a "deposit only" or "freeze" my account. They refused. Chase became a bigger entity than myself or the employee trying to help me.

My overall opinion is that it is a nice bank as long as you don't make a mistake in your checking or ask them to for help. It's like they hand you a rule book when you open an account and then you are expected to be the perfect customer or you will pay out of your pocketbook.
DarlaBDarlaB1 posts since
Jul 21, 2014
Rep Points: 0
Monday, July 21, 2014 - 9:41 AM
Business Owner
Webster Bank 1 stars (1 stars)
WARNING!!!!! This is the worst bank! I had banked with new Milford Savings Bank since the late 1980s Webster took over 7 approximately years ago. It was ok at first, but they have turned into a literal nightmare!! They do not care about their customers. They make mistakes and will not reverse fees. I wasn't even close to being overdrawn and I was charged 4 fees at 37. each I brought the printout in to the branch. They had no explanation she even called two different managers who also had no explanation. You would think at that point they would refund my money. NO!! They said they are only allowed to give one charge back. That is ludicrous!! Last Thursday, I made a deposit with my credit card machine, the money is available midnight the night I process it. I went into the bank Saturday to withdraw some of the money in order to pay employees, They had no record of the deposit. 1200$ gone. First Data informed the teller of the transaction reference number and proved that the money had indeed been deposited into my account on Friday at 12:01 am The teller basically said they have misplaced my money and even though they have proof of the deposit, they could not withdraw any money at this time. I had workers showing up at my house that day to get paid. They batched out their drawers while I was standing there so when I asked to at least withdraw the available funds so I could give them something, they told me they were closed. I was standing in the bank and they closed while waiting on me. She basically said "I don't know what to tell you, come back on Monday". This sort of thing happens over and over with this bank. I am officially done with these guys. Its terrible that they took over the bank that I was happy with, play games with my money and cause me a lot of stress. I cant run a business like this! DO NOT bank here, anywhere but here!!
Robin VogelRobin Vogel1 posts since
Jul 21, 2014
Rep Points: 1
Monday, July 21, 2014 - 9:22 AM
Always Helpful
USAA Bank 5 stars (5 stars)
USAA has always had great customer service. Whenever we had questions or problems with our accounts, they were just one phone call away. Their people are courteous and understanding. Their rates and fees aren't always the best, but the loyalty makes up for it.
KyleKyle1 posts since
Jul 21, 2014
Rep Points: 0
Monday, July 21, 2014 - 8:24 AM
5 Factors That Could Drive Interest Rates Higher
By Richard Barrington | MoneyRates.com Senior Financial Analyst, CFA
Recent employment news suggests that the U.S. economy may finally be sustaining some momentum. That should eventually have an impact on bank rates, but as always, timing is everything. A stronger economy seems likely to lead to higher interest rates, and you should factor that possibility into financial decisions, such as whether to refinance your mortgage or how long a CD term you should choose. The tricky part is that rates may not react immediately, and not all bank rates will respond to these pressures at the same time.

Anticipating When Bank Rates Will Climb
ShorebreakShorebreak2,602 posts since
Apr 6, 2010
Rep Points: 14,087
Monday, July 21, 2014 - 8:16 AM
Your Bank Has The Right To Close Your Account Due To Bitcoin Activity
Strange as it may seem, your bank does have the contractual right to close your account without formal explanation. Its rationale may well be engagement in “Bitcoin activity,” which can be interpreted under Homeland Security banking laws as some form of potentially illegal currency exchange.

The Surprising Reason Why This Customer's Bank Account Was Closed Without Notice - MyBankTracker.com
ShorebreakShorebreak2,602 posts since
Apr 6, 2010
Rep Points: 14,087
Monday, July 21, 2014 - 6:18 AM
How to avoid the biggest 401(k) mistakes
From  NextAvenue.org via MarketWatch: 

The 401(k) plan has long been one of the most useful and advantageous cornerstones of any investor’s retirement plan. Taking advantage of it used to be as simple as parking your weekly contributions in the plan and watching as they — and your company’s matching contribution — added up to a modest nest egg from which you could start drawing as soon as you retired.

Well, times have changed and so have some of the basic rules of 401(k) saving, which has led some investors to make costly mistakes with the plans.
Read more
Avoiding the mistakes can make a big difference.
pearlbrownpearlbrown1,431 posts since
Nov 2, 2010
Rep Points: 6,247