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Chicagoans like doing their banking at the supermarket.
Nationally, the number of in-store bank branches and the deposits they hold are falling, but those numbers continue to edge up in Chicago, according to a newly released study by trade publication SNL Financial. Get the full story »
Chase, Chicago’s biggest bank, is making changes to its basic checking account that could make it tougher to avoid a monthly service fee.
Beginning Feb. 8 , customers will need at least one direct deposit of $500 a month for Chase to waive its $6 monthly service fee. The direct deposit may include a payroll, pension or government benefit payment, such as Social Security. Get the full story »
Chase customers who don’t earn a lot or rely on paltry government benefits may soon have to pay a monthly fee on their checking accounts.
The bank started notifying customers this month that direct deposits will have to be at least $500 to qualify for a waiver on the $6 monthly fee. Get the full story »
The $15.6 billion-asset State Farm Bank has introduced a point-and-shoot deposit application for customers with iPhones.
The Bloomington-based bank, which is affiliated with the State Farm Insurance Cos., said its customers can deposit checks into their account from their phones. Get the full story »
Chicago’s two biggest banks have diverging strategies on how to treat customers who overdraw their accounts using ATM and debit cards.
Starting July 1 for new customers and Aug. 15 for existing ones, banks need a consumer’s approval to process everyday debit and ATM card transactions that exceed the account balance. In the past, banks often have covered overdrafts, but socked the account holder with a $20 or $30 fee. Get the full story »
