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You Need to Understand These Reasons for Bank Consolidation

South State Correspondent

In 1985, there were 14,417 FDIC banking charters. With deregulation and against a backdrop of increasing bank failures, the FDIC deposit insurance was raised from $40,000 to $100,000, and the ceiling savings rate was phased out. Remote banking programs, telephone banking and greater ATM usage were a result.

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Green Dot To Launch Mobile Banking For US Immigrants

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Hispanic immigrants have access to actual banking services, the release states, citing an FDIC survey. A survey by Welcome Technologies of 10,000 immigrants found that only 44 percent used credit cards and 54 percent had savings accounts, the release states.

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Zero Launches Debit-Like Credit Card, Raises $20M

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Zero, a company that aims to modernize credit cards for the millennial generation, has raised $20 million in a Series A funding round, according to a report. The company plans to market its card to credit-wary millennials who want to avoid getting into a deep debt cycle, but who also want the incentives of owning a credit card.

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Digital Bank N26 Offers New Perk Partners To US Debit Card Users

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Cash withdrawals are free at more than 55,000 Allpoint designated ATMs and customers also get two free out-of-network withdrawals per month. N26 partners with Axos Bank to offer a Visa debit card and FDIC-insured checking account. All accounts also come with Spaces, which gives users the ability to organize financial goals.

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BlueVine Adds Checking Accounts, Cards For Small Firms

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28) at the Money20/20 conference, BlueVine Business Banking connects small businesses to checking account services and a debit card: the BlueVine Business Debit Mastercard. Banking services are provided via a collaboration with The Bancorp Bank, Member FDIC. Announced on Monday (Oct.

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Robinhood Re-launches Checking Feature With 2 Pct. APY

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percent APY on any money in the account – and they will be able to spend it with a distinctive Mastercard debit card. The new option, Bhatt said, was “built from the ground up” and will have use at a network of 75,000 ATMs. Investors’ money will be covered by the Federal Deposit Insurance Corporation (FDIC) up to $1.25

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Why Consumers Need Digital Banks To Be Better, Not Just Cheaper

PYMNTS

ATM fees, on the other hand, average around $4.66. In the sense that it is a bank, MoneyLion takes deposits and makes sure those deposits are FDIC insured through a backend partnership with a traditional bank, Choubey said. Having a simple bank checking account costs an average a monthly maintenance fee of $13.58 or $163 a year.