Remove ATM Remove FDIC Remove Online
article thumbnail

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.

FDIC 195
article thumbnail

3 Ways Financial Institutions Can Step Up for Underserved Communities

Perficient

Greenwood operates completely online, but they partner with FDIC-insured banks and are part of a global ATM network that allows members to use more than 100,000 ATMs fee-free when they need to withdraw and deposit physical cash and checks.

Community 275
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

SoFi Officially Files For A Bank Charter Of Its Own

PYMNTS

Which means it really doesn’t come as all that huge a surprise that as of June 6th, SoFi had applied for a new (de novo) bank charter according to the FDIC. Instead, SoFi as a bank will exist so it can “provide its customers an FDIC insured NOW account and a credit card product. SoFi has confirmed the news.

FDIC 100
article thumbnail

Consumers Still Drawn To The Branches Banks Are Trying To Shut Down

PYMNTS

Despite banks’ best efforts to move more of their customers online – and thus lessen the need for overhead-heavy branches – consumers are turning out to be way more into visiting the local branch than initially imagined. According to the FDIC, banking branches are at their lowest level in a decade with only 93,283 left open.

FDIC 100
article thumbnail

Chase Tries To Win Over More Unbanked Consumers

PYMNTS

The financial institution on Monday (March 18) “began offering checkless accounts with access to its mobile app, branches and ATMs for $4.95 According to the Federal Deposit Insurance Corporation (FDIC), the percentage of unbanked Americans fell to its lowest level since the 2007-2009 financial crisis. households remain unbanked.

America 175
article thumbnail

BlueVine Adds Checking Accounts, Cards For Small Firms

PYMNTS

Small business (SMB) online lending company BlueVine is expanding its financial services with the launch of BlueVine Business Banking. The service supports one-minute online account opening, and allows small business owners to access an online dashboard through which they can view transaction activity, make payments and transfer funds.

Cards 101
article thumbnail

Citizens Debuts Digital Bank

PYMNTS

Citizens Access safely and securely offers Member FDIC-insured online savings and CD accounts with attractive rates and no fees to customers across the United States. Citizens Financial Group announced the launch of its nationwide, direct-to-consumer digital bank.