BNY Mellon, US Bancorp Opt out of FDIC Extension Nov 3, 2009
Bank of New York Mellon and U.S. Bancorp both said they will opt out of a six-month extension of the Transaction Account Guarantee Program. The program, part of the wider effort to shore up banks during the height of last year's crisis, offers Federal Deposit Insurance Corp. coverage for non-interest bearing accounts, like checking accounts, with balances above $250,000. (ABC News -- Wire)
U.S. Bancorp opts out of FDIC program Nov 3, 2009
U.S. Bancorp opts out of Transaction Account Guarantee Program extension - Silicon Valley / San Jose Business Journal ... U.S. Bancorp opts out of Transaction Account Guarantee Program extension ... The Minneapolis-based regional banking giant (NYSE: USB) said it will opt out of the six-month extension of the Transaction Account Guarantee Program, or TAGP.. (San Jose Business Journal, CA)
Amcore reports $156M loss Oct 29, 2009
Amcore (NASDAQ: AMFI) also said that it has chosen to continue participating in the FDIC's Transaction Account Guarantee Program where the entire amount in all noninterest-bearing deposit accounts for participating banks are fully guaranteed by the FDIC through June 30, 2010. This is in addition to, and separate from, the $250,000 coverage available under the FDIC's general deposit insurance rules which are in effect until Dec. 31, 2013. (Milwaukee Business Journal, WI)
Washington Banking Declares 46th Consecutive Quarterly Dividend Oct 23, 2009
The quickest way for registered holders to have their dividends deposited directly into a transaction account is to log-in to the "Investor Centre" area of the transfer agent's website at. Registered holders of WBCO shares may also enroll in this service by calling Computershare at 1-800-962-4284 and requesting an enrollment form. (Primezone Releases)
Flushing Financial Corporation Reports 2009 Third Quarter Earnings Increase of 65% to $0.33 Per Diluted Common Share; Core Earnings Increase of 3.7% to $0.28 Per Diluted Common Share Oct 21, 2009
Our expanded capabilities and product offerings established in the last three years helped to not only reduce our funding costs but also to grow transaction account balances by 35% for the first nine months of 2009, bringing the balances to $451. 7 million at September 30, 2009. (Primezone Releases)
Different Types of Home Loans Oct 21, 2009
However, it also behaves like a transaction account with a giant credit card. Those prone to big impulse purchases should not take out a line of credit loan as it s too easy to access the money. (Suite101.com)
READ: Bank of American's press release Oct 17, 2009
" Third-Quarter 2009 Business Highlights -- Average retail deposits in the quarter increased $93.0 billion, or 16 percent, from a year earlier, including the net impact of $72.1 billion in balances from Merrill Lynch and Countrywide. Excluding Countrywide and Merrill Lynch, retail deposits grew $20.9 billion, or 4 percent, from the year-ago quarter. -- Global Wealth and Investment Management was ranked No. 1 among U.S. wealth managers with more than 25 percent of the nation's top 100 financial... (USA Today -- Money)
Banks bidding for your money Oct 15, 2009
So NAB isnt being entirely altruistic in dropping transaction account fees it wants to keep customers happy to leave cheap funds in them. NAB and ANZ, with proportionally smaller retail banking books than CBA and Westpac are at a funding disadvantage without those lazy free deposits. (Sydney Morning Herald -- Business)
Powered by Mozo Oct 10, 2009
Combine your everyday transaction account with the option of multiple high interest savings accounts. How did you hear about Mozo. (Sydney Morning Herald -- Business)
Penalty fee shake-up could soften rates blow Sep 21, 2009
ANZ on Friday became the last of the majors to cut overdraft, late payment and dishonour fees, but it introduced a $1 rise in the monthly service charge on its main transaction account. Reserve Bank figures show Australians last year paid more than $1. (Sydney Morning Herald -- Business)
ANZ raises account fee, reduces others Sep 18, 2009
From December 15, the bank will reduce overdrawn, dishonour and over-limit fees applying to all other customers, but raise the monthly account service fee on its everyday transaction account by $1 ... Overdrawn fees will drop from $35 to $6 on all personal transaction accounts, and no fee will be charged where the overdrawn among is less than $50 ... For mortgage holders, ANZ said it has "simplified'' its locked rate fee, liftin it to a flat $750 from the previous $600 plus 0.15 per cent of the... (Sydney Morning Herald -- Business)
Banking Accounts Sep 18, 2009
Combine your everyday transaction account with the option of multiple high interest savings accounts ... Combine your everyday transaction account with the option of multiple high interest savings accounts ... Combine your everyday transaction account with the option of multiple high interest savings accounts. (Sydney Morning Herald -- Business)
It's game on in real estate Sep 16, 2009
"Banks are still offering discounts of up to 0.7 per cent on bigger loans and packages [home loan plus transaction account and credit card]," Walsh says. "Borrowers can get their money at a little over 5 per cent today. What we ask them to do is look forward. If their rate goes to 7 per cent, could they still afford it? Can they put some extra into the mortgage account or a savings account to create a buffer? Do they need to fix? Should they go interest-only for a few years? With house prices on... (Sydney Morning Herald -- Business)
Arvest Bank to Acquire Harrington Bank Branches in Kansas City Market Aug 7, 2009
Arvest Bank participates in the FDIC's Transaction Account Guarantee Program which provides unlimited FDIC deposit insurance coverage to non-interest checking accounts so that deposit customers have access to the full FDIC coverage. Arvest Bank offers a wide range of financial products and services including loans, deposits, credit cards, trust, brokerage, life insurance, mortgage loans, servicing of mortgage loans and electronic banking. (PR Newswire)
Center Bancorp, Inc. Reports Second Quarter 2009 Earnings Jul 31, 2009
The Corporation is a participant in the FDIC's Transaction Account Guarantee Program. Under this program, all non-interest bearing deposit transaction accounts are fully guaranteed by the FDIC, regardless of dollar amount, through December 31, 2009. (Primezone Releases)
American Principle Bank Announces Second Quarter 2009 Financial Results Jul 30, 2009
the Bank's participation in the FDIC's Transaction Account Guarantee Program, whereby checking accounts receive unlimited FDIC insurance coverage in exchange for the payment of additional FDIC insurance premiums ... The Bank participates in the FDIC's Transaction Account Guarantee Program. (PR Newswire)
Global Consumer Acquisition Corporation Hires George Rosenbaum, Jr. to Serve as Senior Financial Executive Jul 30, 2009
WLBC will have approximately $477 million of Gross Loan Assets, $320 million of Transaction Account Deposits and $214 million in Time Deposits, with residual brokered deposits of less than $13 million. Since May 2007, Mr. Rosenbaum has served as a consultant for various financial entities, including two groups starting de novo banks. (PR Newswire)
QNB Corp. Reports Second Quarter Results Jul 25, 2009
Comparing the two quarters, average transaction account balances increased 8 ... The decline in the net interest margin from the second quarter of 2008 and the first quarter of 2009 is mainly the result of the yield earned on loans and investment securities declining to a greater degree than the cost of deposits as well as a small change in the mix of earning assets, from higher yielding loans to lower yielding investment securities, and the mix of deposits from lower-cost transaction accounts... (PR Newswire)
UMB profit down on regulatory fees Jul 22, 2009
The fees include a Federal Deposit Insurance Corp. special assessment, an increase in routine quarterly FDIC assessments and expenses related to the Transaction Account Guarantee Program. It s kind of unfortunate that banks that do not contribute to the financial crisis must share in burden, said Tom Chulick, UMB s St. Louis chairman and chief executive. (St. Louis Business Journal, MO)
Mortgage springs a leak Jul 2, 2009
Line-of-credit loans in which borrowers use their mortgage accounts virtually as a transaction account are second in line as the biggest source of errors because of the extra activity involved, he says. Peach Financial says the non-delivery of negotiated discounts such as those offered on "premium" home-loan packages is another problem area. (The Age, Australia)
Single Loan Repayment Each Month Jun 26, 2009
If the employer is unable to comply with this request, then a Direct Debit will have to be set up for the required funds to be transferred from the persons Transaction Account into the Savings Account each week. Again, once set up it is an automatic process. (Suite101.com)
Your say Have you been ripped off? May 21, 2009
I haven't paid banking fees on my day to day transaction account in a very long time ... I had hardly any cash in my transaction account, as it was all in my St George "high interest" online account, earning a massive 3. (Sydney Morning Herald -- Business)
DNB Financial Corporation Announces First Quarter 2009 Earnings May 2, 2009
DNB is participating in the FDIC Transaction Account Guarantee Program, which is part of the FDIC's Temporary Liquidity Guarantee Program (TLGP). Under this program all non-interest bearing deposit transaction accounts, as well as certain types of transaction accounts with interest rates of. (Primezone Releases)
ICB Financial First Quarter 2009 Financial Performance May 1, 2009
Every new and existing account in ICB continues to be insured by the FDIC, currently up to $250,000 with additional protection for joint accounts, and every dollar in a non-interest bearing transaction account (checking account) is still fully insured by the FDIC with no limit to the insurance coverage. Bank closings have also served to highlight the need to constantly monitor the Bank's liquidity position and to have plans that provide for actions to be taken in cases of emergencies. (PR Newswire)
Dig for the detail Apr 28, 2009
Also last month, AMP Banking launched a high-interest transaction account, AMP First, offering a rate of 4 ... It offers unlimited access and has all the regular features of a transaction account, such as Eftpos, Bpay, a cheque book, internet and phone banking ... Savings and transaction accounts that offer attractive rates often come with strings attached. (Sydney Morning Herald -- Business)
American Principle Bank Announces: First Quarter 2009 Financial Results; Achievement of Profitability; Total Assets Exceed $175 Million Apr 18, 2009
The Bank participates in the FDIC's Transaction Account Guarantee Program. Under that Program, through December 31, 2009, all non-interest bearing checking accounts, as defined under the Program, are fully guaranteed by the FDIC for the entire amount of the account. (PR Newswire)
Security Bank Corporation Announces Information in Compliance With NASDAQ Marketplace Rule 4350 Mar 18, 2009
In addition, Security Bank is participating in the FDIC Transaction Account Guarantee Program, which provides that all non-interest-bearing checking accounts (including most business checking accounts) have unlimited FDIC insurance coverage until December 31, 2009. Security Bank Corporation common stock is traded on the NASDAQ Global Select Market under the ticker symbol ``SBKC.'' You may obtain copies of all documents that Security Bank Corporation files with the Securities and Exchange... (Primezone Releases)
IS YOUR MONEY SAFE? Mar 16, 2009
The Transaction Account Guarantee Option guarantees new senior unsecured debt issued by financial institutions ... "NA" means the company is a holding company and is not eligible for the Transaction Account Guarantee Option ... Transaction Account Guarantee Option. (Daytona Beach News Journal)
Centrue gives earnings results, quarterly dividends Mar 12, 2009
FDIC s Transaction Account Guarantee Program ... Available to Centrue customers through Dec. 31, 2009, the program provides a full guarantee on all non-interest-bearing transaction accounts, and NOW accounts paying 0. (Princeton Bureau County Republican, IL)
ICB FINANCIAL Reports 2008 Financial Performance Feb 14, 2009
And every dollar in a non-interest bearing transaction account is fully insured by the FDIC with no limit to the insurance coverage. But most importantly, Inland Community Bank, N.A. is operated by banking professionals who know how to run the Bank so that the insurance coverage afforded by the FDIC should never be needed. (PR Newswire)
First American Bank elects to participate in FDIC program Feb 14, 2009
To provide customers with the added peace of mind that their accounts are secure, First American Bank is pleased to announce our participation in the FDIC's voluntary Transaction Account Guarantee Program. The program guarantees full deposit insurance coverage of non-interest bearing transaction accounts, with no dollar restrictions, through Dec. 31, 2009. (Dallas County News, IA)
Efforts to court the 'unbanked' mixed Feb 7, 2009
Thirty-eight percent of banks require a minimum balance on their most basic deposit and checking accounts, and nearly all charge a per-item overdraft fee on their most basic transaction account, the survey found. Seventy-three percent of banks did report modifying their branch operations to lure the unbanked by offering Internet or mobile banking, while 44 percent extended their banking hours. (Charleston Post Courier)
