Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

How the New Rules on Overdraft Fees will Change Checking Accounts

Friday, January 22, 2010 - 3:12 PM
This New York Times article looks into how free checking may change when new federal rules on overdraft take effect. Here's an interesting excerpt about how banks will make up for the loss of overdraft fees:
But the most popular option seems to be to get retailers to pay for a big part of free checking, not bank customers.
This is from to the interchange fees that retailers pay when you use a debit card. The article looks into how rewards checking accounts are helping banks get more interchange fees. It also reviews PerkStreet Financial's free checking which offers a 1% cash back on debit card purchases (see my Perkstreet review).
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,634