Tougher Oversight Could Make Car Loans Fairer, Cut Costs

If you’ve ever felt like you were taken for a ride when the bill finally arrives for that nice new car you financed through the dealer, you’re not alone. And the Consumer Financial Protection Bureau aims to do something about it.

The agency wants to oversee nonbank auto finance companies, becoming the regulatory supervisor of 38 lenders that make, acquire or refinance 10,000 or more loans or leases in a year. This would put the finance arms of companies such as Toyota, Honda and Ford under the bureau’s watchful eye

You may be less likely to overpay for your next car if the agency succeeds in broadening its authority to include these finance companies. And if you fall behind on payments, you may escape the abusive practices some borrowers have been subjected to, according to the bureau. For nonwhite buyers, the added oversight aims to prevent discriminatory practices that can push up your costs.

Millions of loans

The 38 companies the agency wants to oversee originate close to 90% of all nonbank auto loans and leases and provide financing to about 6.8 million consumers each year, according to agency Director Richard Cordray. The bureau already supervises large banks, including their car-lending operations.

“It should not matter whether you get a loan or lease from a company that has a banking charter versus one that does not – every auto lender should be following the law and be subject to the same level of oversight,” Cordray said at a Sept. 18 hearing on the subject in Indianapolis.

Concerns over nonbank finance company lending practices include the use of deceptive marketing tactics, incorrect reporting of consumer information to credit bureaus, and unfair debt collection methods, according to the agency.

Subprime lender fined

In August, the bureau ordered First Investors Financial Services Group, a Texas-based subprime auto lender, to pay a $2.75 million fine for allegedly distorting borrower credit reports. The company made loans to people whose credit scores fell below what most banks deem unacceptable.

“For years, the company knew it was sending incorrect information about tens of thousands of its own customers to the credit bureaus,” Cordray said about First Investors in a statement.

Other nonbank finance company complaints have been received from consumers who say their cars have been repossessed even though they are current on the loan or have a payment plan, according to the agency.

Lender discrimination

Discriminatory car-lending practices remain another concern of the agency.

Last year, Ally Financial reached a $98 million settlement with federal authorities over a lawsuit alleging the company let dealers mark up interest rates on auto loans to nonwhite borrowers, including African-Americans, Asians and Hispanics. About $80 million of that was distributed to some 235,000 borrowers. Actions against several other lenders will result in an additional $56 million in compensation for up to 190,000 consumers harmed by discriminatory practices, according to the bureau.

“In these cases, minority borrowers were paying more for their loans than similarly situated non-Hispanic white borrowers,” Cordray said at the Indianapolis hearing.

Americans owe more on their cars – $900 billion at the start of this year – than any other common household debt except mortgages and student loans.

Rulemaking takes months

The proposed rule is open for comment 60 days after publication in the Federal Register. The details can be found here. The final regulations would take effect 60 days following their appearance in the register.

No one wants to be fooled into buying a car they can’t afford or suffer discrimination, and with greater federal oversight, the illegal practices of auto lenders and their agents could become a thing of the past.

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Loan image via Shutterstock.

Source Article :http://bit.ly/1s2hn3x

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JPMorgan Chase Hackers Put Millions at Risk, So Take These Steps to Avoid Getting Burned

If you’re one of the millions of people whose name and contact information fell into the hands of hackers who attacked JPMorgan Chase, prepare yourself: You may be targeted by attempts to pry out more critical information.

While the bank hasn’t detected any fraud and says all money is safe, the breach exposed the names, addresses, phone numbers and email addresses tied to 76 million households and 7 million small businesses. There was no sign of stolen account numbers, passwords, user identifications, birthdates or Social Security numbers, Chase says.

What you should do

Given this massive exposure of customer contact information, people affected should be on the lookout for spam emails, phone calls and text messages, says Avivah Litan, a vice president and distinguished analyst at Gartner Research, an information technology research company. Fraudsters may be looking to take advantage of you through techniques known as phishing.

“We’re already seeing a lot of these spam emails and texts and phone calls as a result of previous breaches, so this is just going to add to it,” Litan says. “All the data is being collected and sold on the black market, and different criminals buy it for different reasons.”

If you receive suspicious messages or calls, don’t give out credit card digits, Social Security numbers, or any other private information. Banks will never ask for this by email, so if someone does request it, you’re probably dealing with a fraudster.

Don’t trust, do verify

Consumers shouldn’t necessarily trust communications that explicitly mention the name of Chase or any other bank.

“I would envision that a lot of the phishing exploits would mention Chase specifically,” says Doug Johnson, a vice president at the American Bankers Association. “What the phisher is trying to do is send you something which you would have a reasonable expectation of opening up.”

Chase also warns consumers not to click on links or open attachments to fishy emails. To avoid being reeled into one of these traps by telephone, if you get a suspicious call from someone claiming to be from the bank, hang up, call the bank and ask to be connected, or visit a branch in person. Chances are the call was a phishing expedition.

Chase customers aren’t the only ones who should take precautions, Johnson says.

“This was a marketing database; it wasn’t a customer database,” he says of the Chase target the hackers breached. “So while a majority of the data will be of customers, there will be some non-customer data in there as well.”

“[People] can’t stop the theft of the data, but they can stop the use of the stolen data in terms of harming them,” Litan says.

Report suspicious activity

With this security breach – affecting the largest number of people of any known incursion to date – and recent attacks on Target, Michaels, Neiman Marcus and Home Depot, it’s obvious that successful hacks are becoming more common. Therefore, all consumers should check their credit and debit account statements regularly to look for unauthorized purchases. Report any suspicious activity to your card issuer, bank or credit union immediately to avoid potential liability; the sooner you speak up, the more likely you are to get your money back, Litan says.

Small business owners should take the same precautions and train their employees, including bookkeepers and treasurers, to be wary of potential scams, Litan says.

Additionally, you may want to place a fraud alert on your credit report, change passwords and consider identity theft protection services, the Consumer Bankers Association advised earlier this month. For more safety tips, check out this handy guide. With a little luck and some proactive steps now, you may avoid the pain that having your credit and bank accounts hacked can cause.

JPMorgan Chase image via Shutterstock

Source Article :http://bit.ly/1vmxMNC

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JPMorgan Chase Hackers Put Millions at Risk, So Take These Steps to Avoid Getting Burned

If you’re one of the millions of people whose name and contact information fell into the hands of hackers who attacked JPMorgan Chase, prepare yourself: You may be targeted by attempts to pry out more critical information.

While the bank hasn’t detected any fraud and says all money is safe, the breach exposed the names, addresses, phone numbers and email addresses tied to 76 million households and 7 million small businesses. There was no sign of stolen account numbers, passwords, user identifications, birthdates or Social Security numbers, Chase says.

What you should do

Given this massive exposure of customer contact information, people affected should be on the lookout for spam emails, phone calls and text messages, says Avivah Litan, a vice president and distinguished analyst at Gartner Research, an information technology research company. Fraudsters may be looking to take advantage of you through techniques known as phishing.

“We’re already seeing a lot of these spam emails and texts and phone calls as a result of previous breaches, so this is just going to add to it,” Litan says. “All the data is being collected and sold on the black market, and different criminals buy it for different reasons.”

If you receive suspicious messages or calls, don’t give out credit card digits, Social Security numbers, or any other private information. Banks will never ask for this by email, so if someone does request it, you’re probably dealing with a fraudster.

Don’t trust, do verify

Consumers shouldn’t necessarily trust communications that explicitly mention the name of Chase or any other bank.

“I would envision that a lot of the phishing exploits would mention Chase specifically,” says Doug Johnson, a vice president at the American Bankers Association. “What the phisher is trying to do is send you something which you would have a reasonable expectation of opening up.”

Chase also warns consumers not to click on links or open attachments to fishy emails. To avoid being reeled into one of these traps by telephone, if you get a suspicious call from someone claiming to be from the bank, hang up, call the bank and ask to be connected, or visit a branch in person. Chances are the call was a phishing expedition.

Chase customers aren’t the only ones who should take precautions, Johnson says.

“This was a marketing database; it wasn’t a customer database,” he says of the Chase target the hackers breached. “So while a majority of the data will be of customers, there will be some non-customer data in there as well.”

“[People] can’t stop the theft of the data, but they can stop the use of the stolen data in terms of harming them,” Litan says.

Report suspicious activity

With this security breach – affecting the largest number of people of any known incursion to date – and recent attacks on Target, Michaels, Neiman Marcus and Home Depot, it’s obvious that successful hacks are becoming more common. Therefore, all consumers should check their credit and debit account statements regularly to look for unauthorized purchases. Report any suspicious activity to your card issuer, bank or credit union immediately to avoid potential liability; the sooner you speak up, the more likely you are to get your money back, Litan says.

Small business owners should take the same precautions and train their employees, including bookkeepers and treasurers, to be wary of potential scams, Litan says.

Additionally, you may want to place a fraud alert on your credit report, change passwords and consider identity theft protection services, the Consumer Bankers Association advised earlier this month. For more safety tips, check out this handy guide. With a little luck and some proactive steps now, you may avoid the pain that having your credit and bank accounts hacked can cause.

JPMorgan Chase image via Shutterstock

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Should You Steer Clear of Bitcoin?

Bitcoin, the trendy digital currency, garnered some negative press in August when the U.S. Consumer Financial Protection Bureau warned about its potential pitfalls, like unpredictable exchange rates, hackers and scams.

Despite these concerns, the consumer bureau was quick to add that virtual currencies like bitcoin “offer the potential for innovation,” something that has captured the attention of casual consumers and big hedge funds alike.

Before dipping your toes into bitcoin’s often choppy waters, you should know that this particular form of digital money represents quite a double-edged sword. While some financial experts question its viability and safety, others are adamant that bitcoin is here to stay.

Here’s a look at how this disruptive technology works and what you risk losing – or stand to gain – by using it.

What is bitcoin?

If you’ve heard of bitcoin but haven’t actually seen any, it’s because the cybercurrency exists exclusively online. Some enterprises and individuals “mine” bitcoins using sophisticated computers to wring them out of a digital file called the blockchain. The process is complex and expensive, and there are easier ways to obtain the scrip. The system used to create bitcoin also caps the number that can exist at just under 21 million, easing inflation concerns among users and investors.

You can stash bitcoins away in a digital wallet before transferring a sum directly to another user or to a merchant that accepts them. Due to the lack of a middleman such as a bank, transaction fees are typically much lower, which is among the online scrip’s most attractive features.

People interested in converting cash to bitcoins can do so on “bitcoin exchanges,” where they can buy the virtual currency. Despite being relatively new, the number of exchanges is growing rapidly. Entire websites have made it their mission to direct users to the safest and most reliable online exchanges.

As straightforward and user-friendly as this currency might sound, it has several notable drawbacks.

Bitcoin’s unpredictability

“The value of a bitcoin can fluctuate extraordinarily due to high volatility,” says Evan Hutchinson, a business consultant in Ames, Iowa. “Also, due to the large number of exchanges in the world with relatively little oversight, bitcoins are at risk of being lost or stolen.”

Volatility depicts how much the value of an asset changes over time. When looking at a bitcoin price chart, you might think you’re looking at a seismogram from a strong earthquake. This virtual currency has been known to lose as much as 80% of its value in a matter of days, only to spring back quickly. For people who make purchases with the digital money, checkout time can be a shocking experience.

“Those who choose to use bitcoin with little understanding of how the currency actually works can be in for a big surprise when they try and exchange the money back into local currency or use it to buy a product,” Hutchinson says. A Federal Reserve study cites the “extreme volatility of bitcoin’s price,” which creates significant exchange-rate risk.

While the ever-fluctuating value of the bitcoin has scared many people away, optimistic investors cling to the idea that the digital money will ultimately find its footing. Their hope is that the technology behind bitcoin will be fortified, making it safer to own and use, ultimately broadening its user base and improving its stability and long-term viability.

“While reasons differ, I find many early adopters use bitcoin because they believe in the revolutionary nature of the underlying technology that makes bitcoin possible,” says Scott Nichols, founder of Paybits, a Las Vegas-based company that helps people convert a portion of their income directly to bitcoin.

The ease of making transactions is another draw for bitcoin believers.

“What other currency can you send money so quickly and cheaply over the Internet and across borders?” asks Michael Flaxman, an avid bitcoin user and chief executive of CoinSafe, a Seattle-based online service that helps merchants buy and sell the scrip.

Indeed, while you might have to pay upwards of $45 every time you send money overseas using a traditional bank’s wire service, many bitcoin exchanges offer similar transfers at a much lower cost, and direct transactions can be virtually free.

Flaxman isn’t alone in his enthusiasm: It’s estimated that over 5 million people currently use bitcoin, up from about 750,000 only a year ago.

Drawing the wrong crowd

Unfortunately, a fraction of those users engage in criminal transactions, and some may be intent on stealing bitcoins. Just last year, the world’s then-largest exchange for the virtual currency, Tokyo-based Mt. Gox, collapsed after hundreds of thousands of bitcoins went missing, sticking customers with millions in losses.

Despite the relentless hype surrounding the “revolutionary nature” of bitcoin’s technology, it is still a very vulnerable system. Because you can exchange bitcoins relatively anonymously, the digital currency has attracted hackers who prey on exchanges that store large bitcoin reserves. It has been popular among those engaged in illicit commerce, too – transactions on the shuttered online black market Silk Road took place exclusively with bitcoin.

Although records of every transaction using the cryptocurrency are permanently stored on a shared public transaction register, it’s difficult to track down bitcoin thieves. The lack of government support certainly doesn’t help.

Bottom line

Because bitcoin isn’t backed by the U.S. government or any of the world’s central banks, it’s lightly regulated, if at all. What’s more, any bitcoins you store in a digital wallet are uninsured, meaning you’ll probably eat any losses, regardless of how they occur.

Interestingly enough, the risks and lack of government backing haven’t scared off everyone. According to Nichols, bitcoin’s independence may be one its biggest draws.

“The exact warning from CFPB that bitcoin is not backed by a central government is exactly the reason many use bitcoin today,” Nichols says, referring to the U.S. consumer agency.

While the lack of official oversight attracts users eager to make transactions outside of the regulatory eye, many are reluctant to embrace this new technology.

As with any decision involving your hard-earned dollars, you should think long and hard about the risks that come with an erratic online currency like bitcoin. In the end, any gains may be vastly outweighed by the pain of losses.

This article originally appeared on US News [http://ift.tt/1tUjm9l].

Bitcoin image via Shutterstock

Source Article http://ift.tt/1y39EC7

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Should You Steer Clear of Bitcoin?

Bitcoin, the trendy digital currency, garnered some negative press in August when the U.S. Consumer Financial Protection Bureau warned about its potential pitfalls, like unpredictable exchange rates, hackers and scams.

Despite these concerns, the consumer bureau was quick to add that virtual currencies like bitcoin “offer the potential for innovation,” something that has captured the attention of casual consumers and big hedge funds alike.

Before dipping your toes into bitcoin’s often choppy waters, you should know that this particular form of digital money represents quite a double-edged sword. While some financial experts question its viability and safety, others are adamant that bitcoin is here to stay.

Here’s a look at how this disruptive technology works and what you risk losing – or stand to gain – by using it.

What is bitcoin?

If you’ve heard of bitcoin but haven’t actually seen any, it’s because the cybercurrency exists exclusively online. Some enterprises and individuals “mine” bitcoins using sophisticated computers to wring them out of a digital file called the blockchain. The process is complex and expensive, and there are easier ways to obtain the scrip. The system used to create bitcoin also caps the number that can exist at just under 21 million, easing inflation concerns among users and investors.

You can stash bitcoins away in a digital wallet before transferring a sum directly to another user or to a merchant that accepts them. Due to the lack of a middleman such as a bank, transaction fees are typically much lower, which is among the online scrip’s most attractive features.

People interested in converting cash to bitcoins can do so on “bitcoin exchanges,” where they can buy the virtual currency. Despite being relatively new, the number of exchanges is growing rapidly. Entire websites have made it their mission to direct users to the safest and most reliable online exchanges.

As straightforward and user-friendly as this currency might sound, it has several notable drawbacks.

Bitcoin’s unpredictability

“The value of a bitcoin can fluctuate extraordinarily due to high volatility,” says Evan Hutchinson, a business consultant in Ames, Iowa. “Also, due to the large number of exchanges in the world with relatively little oversight, bitcoins are at risk of being lost or stolen.”

Volatility depicts how much the value of an asset changes over time. When looking at a bitcoin price chart, you might think you’re looking at a seismogram from a strong earthquake. This virtual currency has been known to lose as much as 80% of its value in a matter of days, only to spring back quickly. For people who make purchases with the digital money, checkout time can be a shocking experience.

“Those who choose to use bitcoin with little understanding of how the currency actually works can be in for a big surprise when they try and exchange the money back into local currency or use it to buy a product,” Hutchinson says. A Federal Reserve study cites the “extreme volatility of bitcoin’s price,” which creates significant exchange-rate risk.

While the ever-fluctuating value of the bitcoin has scared many people away, optimistic investors cling to the idea that the digital money will ultimately find its footing. Their hope is that the technology behind bitcoin will be fortified, making it safer to own and use, ultimately broadening its user base and improving its stability and long-term viability.

“While reasons differ, I find many early adopters use bitcoin because they believe in the revolutionary nature of the underlying technology that makes bitcoin possible,” says Scott Nichols, founder of Paybits, a Las Vegas-based company that helps people convert a portion of their income directly to bitcoin.

The ease of making transactions is another draw for bitcoin believers.

“What other currency can you send money so quickly and cheaply over the Internet and across borders?” asks Michael Flaxman, an avid bitcoin user and chief executive of CoinSafe, a Seattle-based online service that helps merchants buy and sell the scrip.

Indeed, while you might have to pay upwards of $45 every time you send money overseas using a traditional bank’s wire service, many bitcoin exchanges offer similar transfers at a much lower cost, and direct transactions can be virtually free.

Flaxman isn’t alone in his enthusiasm: It’s estimated that over 5 million people currently use bitcoin, up from about 750,000 only a year ago.

Drawing the wrong crowd

Unfortunately, a fraction of those users engage in criminal transactions, and some may be intent on stealing bitcoins. Just last year, the world’s then-largest exchange for the virtual currency, Tokyo-based Mt. Gox, collapsed after hundreds of thousands of bitcoins went missing, sticking customers with millions in losses.

Despite the relentless hype surrounding the “revolutionary nature” of bitcoin’s technology, it is still a very vulnerable system. Because you can exchange bitcoins relatively anonymously, the digital currency has attracted hackers who prey on exchanges that store large bitcoin reserves. It has been popular among those engaged in illicit commerce, too – transactions on the shuttered online black market Silk Road took place exclusively with bitcoin.

Although records of every transaction using the cryptocurrency are permanently stored on a shared public transaction register, it’s difficult to track down bitcoin thieves. The lack of government support certainly doesn’t help.

Bottom line

Because bitcoin isn’t backed by the U.S. government or any of the world’s central banks, it’s lightly regulated, if at all. What’s more, any bitcoins you store in a digital wallet are uninsured, meaning you’ll probably eat any losses, regardless of how they occur.

Interestingly enough, the risks and lack of government backing haven’t scared off everyone. According to Nichols, bitcoin’s independence may be one its biggest draws.

“The exact warning from CFPB that bitcoin is not backed by a central government is exactly the reason many use bitcoin today,” Nichols says, referring to the U.S. consumer agency.

While the lack of official oversight attracts users eager to make transactions outside of the regulatory eye, many are reluctant to embrace this new technology.

As with any decision involving your hard-earned dollars, you should think long and hard about the risks that come with an erratic online currency like bitcoin. In the end, any gains may be vastly outweighed by the pain of losses.

This article originally appeared on US News [http://bit.ly/1vstAhD].

Bitcoin image via Shutterstock

Source Article :http://bit.ly/1rzrav6

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get verifed your paypal NOW

Do you really want to know How to get a free Payoneer MasterCard in Bangladesh or Pakistan? Yes that’s right it’s FREE! You can receive a mastercard sent to you directly through postal mail, absolutely free! This is one of finest ways to receive your online earnings in hand.

Free MasterCard in Bangladesh, Pakistan or any country

This offer is available exclusively for users in 200 countries. If you are outside of Bangladesh or Pakistan, you can still apply for this free mastercard.

You wont need a bank account in order to have a free master card.

You will not need credit statement to get a mastercard.

You can use this master card to do online shopping, buy laptops, gadgets, pay online bills, buy domains and use paypal.

You can use this free mastercard to get your funds from a local ATM. Yes Dutch Bangla bank, Janata Bank Q-cash, Standard Chartred ATMs are available too!

You can use this mastercard card in foreign countries.

You can use this mastercard in shopping malls.

Sign up for the payoneer mastercard

The first step for you to get a free mastercard is to follow this link and click sign up!

CLICK HERE -----> Sign Up For MasterCard Payoneer

The good news is that after writing this review, Payoneer Inc contacted me and they created a special promotion where you can sign up and receive a free $25 bonus. Please use this link to sign up and receive $25 when you activate your card.

Now you have to submit your details, on the first step of the order process, add your first name, last name, email address and date of birth and click NEXT:

Select your country from the drop down list. You have option to select Bangladesh or Pakistan. Unfortunately Payoneer MasterCard has stopped working on India. Select your country, add your address (where this card will be mailed to you), enter your phone number and click NEXT:

In step 3 of the order process you have to specify a password and a security question and answer. Please write down the information you have submitted, click NEXT:

In step number 4 you will be asked to submit verification documents. You have the choice to use national ID, passport or driving license. You can use the Govt Voter ID of Bangladesh or your national ID card in Pakistan to sign up. If you have a passport you can use that too.

If you do not have any of them, say you are a minor and have no voter ID, then ask your parents to use their information. For this go back to step one as you will need to use your parent name and details.

Now check all the terms and click FINISH:

You should now receive a message or email of your submission.

Receive & activate your free mastercard

You will receive your payoneer mastercard within 30 days. In Bangladesh it took me roughly 30 days to receive. Some people got it even early within few weeks. I guess in Pakistan, the process is similar.

After you receive your card, log in to your payoneer account and add the digits you see in your card. Add the pin number you want. After that your mastercard will be activated!

Depending on your location it may take 2-4 weeks to receive this card. This will be from a standard postal mail.

Fees?

Although applying and receiving this payoneer mastercard is free of charge, there are some fees associated to maintain this card. So I highly suggest you start working on a marketplace, earn some money to use this card: (click on the image to zoom)

Loading money to your card

I have seen an issue recently that when you get your card first you cannot load money using another card. They require that you load your card from sites like odesk/elance first. I don’t know why they did this thing so before ordering this card make sure you are working on any of these marketplaces and have at least $100 to load.

You can sign up for odesk (a freelance marketplace) and use this as a payment method. From odesk just go to the payment methods and activate the payoneer option. When they ask to sign up for a card, just click that you already have a card and link it.

This card also has the US payment option available.

Basically US payment service is a virtual US bank account. You can use this with Commission Junction to accept ACH/Wire transfers and you can also use it on paypal. 

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Best Apps to Find Free ATMs Near College Campuses

When you’re at college, chances are you need some cash from time to time. While schools all have automated teller machines on campus, they may come with hefty surcharges for withdrawals.

When you use an ATM, your bank may charge a fee if the machine is not in its network, and in such cases the owner of the ATM may slap on still another fee. Even if some banks don’t impose this sort of charge, the ATM operator probably will. Usually the cost runs around $2 per transaction, depending on the owner and location.

To avoid racking up fees every time you need a quick $20, consult your smartphone. There are several apps you can download to help find surcharge-free ATMs on or near your campus.

You’ll want to first look for apps offered by your bank. Many, including JPMorgan Chase and Wells Fargo, offer geo-locators to help you find ATMs that are free for depositors in branches or at stand-alone locations. If those are out of range or inconvenient, try these free apps to find surcharge-free ATMs closer to campus.

Allpoint

The Allpoint mobile app enables you to find more than 43,000 surcharge-free ATMs in the U.S., and another 12,000 around the world. You can search according to where you are, or by city and state or ZIP code. The application will deliver a list or a Google Maps view of the closest locations. When you select one, you can get step-by-step directions or connect to your preferred mobile navigation app to guide you to the machine.

One out of 12 ATMs in the U.S. are in Allpoint’s network, the company says. However, you must be a cardholder of a participating financial institution to get surcharge-free access to these machines. You can check with your bank, or email info@allpointnetwork.com to find out if it’s in the network before using the search app, which is available from the iTunes App Store, Google Play and Windows Store.

MoneyPass

The MoneyPass mobile app includes a locator to help you find one of more than 24,000 surcharge-free ATMs nationwide. It can search by address, ZIP code or your location. The app will connect you to a Google map as well as a list of nearby MoneyPass machines, giving you options to choose from, and then it’ll direct you to your chosen location.

In order to gain surcharge-free access, your financial institution must be part of the MoneyPass ATM Network, which includes over 1,600 organizations. The company says more than 75 million cards will work, charge-free. Typically you’ll have a MoneyPass logo on your plastic to indicate that the issuing bank participates. If it’s not there, contact your branch to find out if you can withdraw surcharge-free at MoneyPass ATMs.

The network’s mobile app can be found at the iTunes App Store or Google Play.

CO-OP network

The CO-OP mobile app lists about 30,000 surcharge-free cash machines for participating credit union members. As with other ATM finder apps, you search using your current location or a given address to find locations on a Google map, as well as a list of cashpoints in the CO-OP credit union network. When you select a location you’ll receive navigation directions to get to the machine. Find out if your institution is part of CO-OP with the CO-OP ATM search tool, which is available at the iTunes App Store or Google Play.

MasterCard Nearby

MasterCard Nearby enables users to find 2 million ATMs worldwide, as well as retailers that offer cash back with a purchase. You can pinpoint your own bank’s cash machines or set a filter to find those without surcharges. The app searches automatically using your current location, but you can also look for a specific address. Much like the other finder apps, this one gives you a Google map as well as a list of nearby machines. Pick one and connect to your navigation app of choice.

MasterCard Nearby can be found at the iTunes App Store, Google Play and Windows Store.

So when your last Friday class ends, it’ll be easy to pick up some of your cash, without paying extra for it.

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ATM image via Shutterstock.

Source Article http://ift.tt/1y39EC7

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