Credit Unions have become increasingly popular banking options as consumers around the country are drawn in by offers of lower banking fees.
In order to inform consumers which banks and credit unions offer the best terms to their consumers, MONEY analyzed the banking terms of 75 financial institutions around the U.S.
According to their survey, in order for consumers to receive the best benefits consumers may need to prioritize their needs. Banking consumers looking for the highest interest returns may need to be willing to use an online-only account while consumers looking for an actual physical branch may need to accept a lower return.
In looking at different banking terms, MONEY found several banks that offered bad terms for their customers. According to their research, out of the 75 companies MONEY reviewed, HSBC’s Premier Checking Account charged the highest monthly service fee.
According to the research, customers who use HSBC’s Premier Checking Account can have the account fee waived if the customer maintains a balance across accounts and investments of $100,000.
Bank customers who have balances over $5 in the account only earn .01% back in interest. In comparison, according to their study the average maintenance fee for checking accounts is a bit under $15.
The study also found that consumers looking to avoid maintenance fees might look into online banking services. According to MONEY, 62 percent of online only banking services are completely free.
Of the 75 banks reviewed, MONEY found that Santander Bank flat fee checking account had the worst ATM fee. Santander charges their users $3.50 each time the customer uses an ATM outside of the branch and the entire bank network consists of only 2,100 ATMs. On average, out-of-network ATM fees are $2.45 and some banks do not charge their customers out-of-network fees at all.
Overdraft Fee Concerns
Overdraft fees are another area of concern for many banking customers. Federal regulation enacted in 2010 require banks to give consumers an option to opt-in to overdraft fees or overdraft protection.
Overdraft protection kicks in when a consumer doesn’t have enough money in their account for a purchase and the bank covers the extra amount. This services comes with a large fee. Consumers who choose not to opt-in are saved the fee and would merely have their purchase declined.
Credit Union Overdraft Fee Class Action Lawsuit Investigation
Consumer protection attorneys are looking for potential plaintiffs to possibly bring credit union class action lawsuits. These lawsuits would likely allege that several credit unions failed to disclose fee instructions, mismanaged funds or used improper financial practices.
Some of the credit unions that attorneys are looking into include State Employees Credit Union, Pentagon Federal Credit Union, Boeing Employees Credit Union, Alliant Credit Union, Star One Credit Union, First Technology Federal Credit Union, America First Federal Credit Union, Randolph Brooks Federal Credit Union and Suncoast Credit Union.
Whether or not a person should bring an overdraft fee lawsuit is a decision that should be made on a case by case basis with the advice of a legal professional. Lawsuits like Credit Union Overdraft Fee lawsuits can help hold businesses accountable for their actions.
Do YOU have a legal claim? Fill out the form on this page now for a free, immediate, and confidential case evaluation. Some of the credit unions being investigated include, but are not limited to:
State Employees Credit Union
Pentagon Federal Credit Union
Boeing Employees Credit Union
Alliant Credit Union
Star One Credit Union
First Technology Federal Credit Union
America First Federal Credit Union
Randolph Brooks Federal Credit Union
Suncoast Credit Union
The attorneys who work with Top Class Actions will contact you if you qualify to let you know if an individual lawsuit or class action lawsuit is best for you. Hurry — statutes of limitations may apply.
Top Class Actions is a Proud Member of the American Bar Association
LEGAL INFORMATION IS NOT LEGAL ADVICE
Top Class Actions Legal Statement
©2008 – 2015 Top Class Actions® LLC
Various Trademarks held by their respective owners
Get Help – It’s Free
Join a Free Credit Union Overdraft Fee Class Action Lawsuit Investigation
If your credit union charged you overdraft fees, you may have a legal claim. Fill out the form on this page now to find out if you qualify!
An attorney will contact you if you qualify to discuss the details of your potential case.
- First Name*
- Last Name*
- Street Address*
- Apt. #
- City*
- State*
AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyomingArmed Forces AmericasArmed Forces EuropeArmed Forces Pacific
- Zip Code*
- Phone*
- Email*
- What is the name of the credit union(s) that charged you an overdraft fee?*
- How long ago did you incur an overdraft fee(s)?*
-
Less than 1 year
-
1-3 years
-
4+ years
-
- Do you have account statements showing your overdraft fees, or can you retrieve them from your credit union?
- Yes
- No
- ¿Necesita un orador español?
- Yes
- No
- Please enter any additional details you would like the staff reviewing your submission to know.*
- I understand and agree that submitting this form does not create an attorney-client relationship and that the information I submit is not confidential or privileged and may be shared.*
-
Yes
The attorney in charge of this advertisement is T.Kick of The Kick Law Firm, APC. -
-
if(typeof gf_global == ‘undefined’) var gf_global = {“gf_currency_config”:{“name”:”U.S. Dollar”,”symbol_left”:”$”,”symbol_right”:””,”symbol_padding”:””,”thousand_separator”:”,”,”decimal_separator”:”.”,”decimals”:2},”base_url”:”http:\/\/topclassactions.com\/wp-content\/plugins\/gravityforms”,”number_formats”:[],”spinnerUrl”:”http:\/\/topclassactions.com\/wp-content\/plugins\/gravityforms\/images\/spinner.gif”};jQuery(document).bind(‘gform_post_render’, function(event, formId, currentPage){if(formId == 148) {gformInitChosenFields(‘#input_148_5′,’No results matched’);if(!/(android)/i.test(navigator.userAgent)){jQuery(‘#input_148_7’).mask(‘(999) 999-9999’).bind(‘keypress’, function(e){if(e.which == 13){jQuery(this).blur();} } );}} } );jQuery(document).bind(‘gform_post_conditional_logic’, function(event, formId, fields, isInit){gformInitChosenFields(‘#input_148_5′,’No results matched’);} ); jQuery(document).ready(function(){jQuery(document).trigger(‘gform_post_render’, [148, 1]) } );
ATTORNEY ADVERTISING
The choice of a lawyer is an important decision and should not be based solely on advertisements.
E-mail any problems with this form to Staff@TopClassActions.com
PAID ATTORNEY ADVERTISEMENT: THIS WEB PAGE IS AN ADVERTISEMENT AND THE PARTICIPATING ATTORNEY(S) ARE INCLUDED BECAUSE THEY PAY AN ADVERTISING FEE. The attorney in charge of this advertisement is T.Kick. It is not a lawyer referral service or prepaid legal services plan. Top Class Actions is not a law firm. Top Class Actions does not endorse or recommend any lawyer or law firm who participates in the network, nor does it analyze a person’s legal situation when determining which participating lawyers receive a person’s inquiry. It does not make any representation and has not made any judgment as to the qualifications, expertise or credentials of any participating lawyer. No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers. The information contained herein is not legal advice. Any information you submit to Top Class Actions does not create an attorney-client relationship and may not be protected by attorney-client privilege. Do not use the form to submit confidential, time-sensitive, or privileged information. All photos are of models and do not depict clients. All case evaluations are performed by participating attorneys.
The post Which Banks and Credit Unions Offer the Best Terms? appeared first on Top Class Actions.
No comments:
Post a Comment