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Complimentary Banking Newsletter Bank News Industry Insights & Info

Capital One Introduces High Interest Business Checking Account

Posted by Jesse Shand On Jul - 21 - 2017

Capital One leaps ahead with an interest-bearing business checking account following the effective repeal of a law that prohibited business checking accounts from earning interest.

Capital One Bank (NYSE: COF) has launched its Clear Interest Business Checking account, a new high interest checking account for business owners.

“The Clear Interest Business Checking account can fundamentally change how business owners manage their company’s money,” said Peter Appello, Executive Vice President of Small Business Banking at Capital One Bank, in a press release. “With Clear Interest Business Checking, business can feel assured that their idle cash is anything but it is now working as hard they do.”

The new offering from Capital One Bank comes after the repeal of Regulation Q, a provision of the Dodd-Frank Financial Reform Act that prevented banks from paying interest on deposits in business checking account. Without t

Chase Revamps Online Customer Account Interface

Posted by Jesse Shand On Jul - 16 - 2017

Chase credit card customers may notice a redesign of their online account activity page to improve readability and usability.

Chase (NYSE: JPM) revamped the account activity page, touting less clutter and better account management, for online banking customers over the weekend.

On Thursday, the bank sent out service messages to announce scheduled maintenance from July 15 to July 17 that may render many services of online banking and mobile banking unavailable.

Now, Chase card customers will find less clutter on the account activity page. Pending charges and temporary authorizations have been separated from the transactions that have already been cleared and posted to the account.

ING DIRECT Kids Savings Account

Posted by Jorja Marion On Jun - 28 - 2017

ING DIRECT has introduced a new product called the Kids Savings Account. The Kids Savings Account is a kid-friendly bank account that teaches kids how to save their money the safe and responsible way. And like the Orange Savings Account, there are no fees, no minimums and the money is FDIC-insured. Currently it pays a kid-friendly 1.00% variable Annual Percentage Yield (effective 02/23/2011). You could do much the same with a regular Orange Savings Account but this is an interesting alternative that allows the kids to check their balance, change their personal info, change their PIN, change their account nickname, create a personalized ‘Saver ID’, and download their account history, tax forms and eStatements.

ING DIRECT Kids Savings Account

Posted by Jorja Marion On May - 14 - 2017

ING DIRECT has introduced a new product called the Kids Savings Account. The Kids Savings Account is a kid-friendly bank account that teaches kids how to save their money the safe and responsible way. And like the Orange Savings Account, there are no fees, no minimums and the money is FDIC-insured. Currently it pays a kid-friendly 1.00% variable Annual Percentage Yield (effective 02/23/2011). You could do much the same with a regular Orange Savings Account but this is an interesting alternative that allows the kids to check their balance, change their personal info, change their PIN, change their account nickname, create a personalized ‘Saver ID’, and download their account history, tax forms and eStatements.

Amalgamated Bank: 1.25% APY 13-Month CD, 1.10% APY Money Market Account

Posted by Jesse Shand On Apr - 18 - 2017

Amalgamated Bank is offering promotional rates on a 13-Month CD and the Hard Working Money Market account that could attract customers away from popular banks.

Amalgamated Bank is a New York City-based institution operating 27 retail branches in New York, Nevada, New Jersey, California, and Washington, D.C. and holds $4.5 billion in assets.

Amalgamated Bank is currently advertising a 13-Month CD paying 1.25% APY and money market rate of 1.10% APY.