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Finance 101: How Do Banks Make Money?

Have you ever wondered why your checking account is free? Obviously, it's not because your bank is feeling charitable. Big banks make big money. The kind of money that leads to the obscene Wall Street bonuses we so often hear about. But banks make … [Read more...]

Why Checks Will Disappear

How often do you write a paper check? A few times a month? Less? Debit cards, online bill-pay, direct deposit, and electronic checking accounts are making the paper check more and more obsolete. And soon, checks will vanish completely. In Britain, … [Read more...]

A Case for Local Banks and Credit Unions

I have been trying to convince my wife to switch her checking account away from Bank of America; I'm not a fan. Recently, on my post on leading financial iPhone apps, two readers asked why. Although there are pros and cons to banking both with large … [Read more...]