Thursday, December 26

Tag: Personal Finance

The Ins and Outs of Overdraft Protection
6Jul By adminNo Comments
Money

The Ins and Outs of Overdraft Protection

When you open a new checking account, you'll have the option to sign up for overdraft protection. Bank representatives often tout the service as a way to avoid overdraft fees and ensure you don't miss important payments, but this type of protection can come at a cost. To decide whether overdraft protection is right for you, brush up on the pros and cons and associated costs, and consider other available options.What Is an Overdraft?An overdraft occurs when you attempt to complete a transaction or withdrawal for an amount more than what is available in your bank account. One of two things will take place: The transaction will either be declined or it will go through and overdraft your account. If your bank declines the transaction, you may be charged a nonsufficient funds fee. If your bank...
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Advisor shares top tips on ways to protect your money from inflation
6Jul By adminNo Comments
Money

Advisor shares top tips on ways to protect your money from inflation

CNBC FA Council member Lazetta Braxton shares her top tips tor how to adapt to inflationary times."The key is reevaluate your income and expenses," she says. It's how to ensure they align with the current circumstances.Inflation may have started to ease, but it remains well above most consumers' comfort level, and spending has slowed considerably, recent reports show.The core consumer price index for May was at 5.3%, while the personal consumption expenditures price index increased just 0.3% for the month when excluding food and energy."The bottom line is everybody is feeling squeezed," said certified financial planner Lazetta Rainey Braxton, co-founder and co-CEO of 2050 Wealth Partners.More from Your Money:Here's a look at more stories on how to manage, grow and protect your money for t...
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ATM Withdrawal Limits | Banking Advice
2Jul By adminNo Comments
Money

ATM Withdrawal Limits | Banking Advice

Like most people, you probably have a checking account to manage your daily spending. And when you need cash, you rely on your local ATM.However, if you've ever had to withdraw a large amount of money, you may have been disappointed to find that your transaction wasn't authorized. Banks place limits on the amount of cash you can withdraw from an ATM each day, and that amount varies by institution and even account.How Much Can You Withdraw From an ATM Each Day? Cash withdrawal limits tend to be somewhere between $300 and $1,500 per day, says Ken Justice, head of ATMs at PNC Bank, although the exact amount varies by bank. "These limits are typically set for security reasons and to protect customer accounts," he says. For example, if someone gets ahold of your debit card information and atte...
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