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Read Now: These 9 Banks Have Eliminated or Reduced Overdraft Fees – CNET – 101 Latest News



These 9 Banks Have Eliminated or Reduced Overdraft Fees     - CNET

#Banks #Eliminated #Reduced #Overdraft #Fees #CNET

Overdraft and nonsufficient funds fees disproportionately target vulnerable or struggling households that are regularly low on funds. An overdraft fee is a fine imposed by your bank when you make a purchase or payment and your checking account doesn’t have enough money to cover it. Typically, an overdraft fee kicks in when your transaction goes through and your account gets overdrawn, while a nonsufficient funds fee occurs when the bank declines your purchase because of inadequate funds (like a bounced check), and then charges you a returned item fee. 

In 2021, banks reaped almost $11 billion from consumers in overdraft fees alone, according to the annual spend report conducted by the Financial Health Network. Such fees, which specifically hit those who can least afford them the hardest, have been increasingly under fire by consumers and federal regulators alike, pushing some banks to cut back or end the practice entirely. 

Overdraft and nonsufficient funds policies vary by financial institution. Many banks that operate entirely online with no physical branches cut overdraft fees years ago, and a few major banks followed suit by modifying them in recent months. Most banks also provide some type of overdraft protection, which automatically moves money from a linked account to cover funds that were overdrawn in the main account, allowing you to bypass a potential fee. 

Here are banks that have ended or reduced overdraft fees. We will update this list as more banks offer services and programs that reduce the burden of overdrawing. 


Starting in June, Citibank eliminated all overdraft fees, returned-item fees and overdraft-protection fees. Citi is the only top five US bank (based on assets) to completely eliminate these fees, according to the bank. 

In addition, Citibank offers a Safety Check feature that will transfer available funds from any linked Citibank savings account to cover overdrafts. The service is free with a Citigold or Citi Priority account or $10 with other accounts once per day that you transfer funds for overdrawing. 

Customers approved for a Checking Plus account — which is a revolving personal line of credit — can automatically have funds transferred from this a credit line to their checking account to cover overdrafts.

Capital One

Capital One eliminated overdraft fees in January, replacing the old practice with what the bank dubs “No-Fee Overdraft” protection. No-Fee Overdraft protection will allow you to overdraw your account without incurring a fee, but once you do, you’ll need to deposit money into your account to cover the overdraft. If you try to use your card once after you’ve overdrawn, but before you fund your account, the transaction will be declined.

You also have the option of allowing overdraft transactions to be declined outright, or you could link to a Capital One savings or money market account to cover overdrawn transactions

There isn’t a fixed cap on how many times you can overdraw, but there will be a dollar limit on how much you can overdraw your account by. That dollar amount will be based on your individual circumstances, as Capital One says it will continually evaluate “the customer’s deposit history and risk profile,” according to the spokesperson. If you hit your overdraft limit, your transaction will be declined, but no fee will be assessed

If you’re currently enrolled in this bank’s overdraft protection program, you should have been automatically enrolled into the No-Fee Overdraft protection. If you aren’t enrolled in the service, you can sign up at any time.


Best known for its credit cards, Discover is also a full-service online bank. In 2019, Discover removed all fees on its checking, money market and savings accounts, including eliminating its $30 insufficient funds fee. If you use your debit card and do not have enough funds in your account, your card will be declined and you will not be charged a nonsufficient funds fee.

If you have a Discover savings account or money market account, you can also enroll in the company’s free Overdraft Protection program. This works by transferring money from your savings or money market account to your checking account if you overdraw on your account. If you do not have enough money in a linked savings account to cover the transaction, your charge will be declined.

Discover says it currently isn’t enforcing its withdrawal rules, so you could technically overdraft more than six times, occasionally. We don’t recommend getting into this habit though, because if Discover returns to enforcing these rules, and you go over your six withdrawal limit, the bank may review and close your money market or savings account.

This bank’s overdraft protection has another limitation — it doesn’t work if you use your PIN to pay for purchases or withdraw cash from an ATM. In these cases, if you don’t have sufficient funds in your debit account, your transaction will be outright declined, but no fee will be incurred.

The bottom line? Discover’s Overdraft Protection is free and has some limitations — but you won’t be charged overdraft or nonsufficient fund fees whether you enroll in this protection or not.


Chime is a financial technology company, not a bank, but its bank accounts are FDIC-insured. Chime does not charge overdraft fees, monthly fees or foreign transaction fees — it also has no minimum balance requirements. 

SpotMe, Chime’s optional free overdraft protection service, is available to account holders who make a direct deposit of $200 or more each month to their checking account. When you first enroll, you can overdraw up to $20 on debit card purchases and cash withdrawals. Later, you may be eligible to overdraw for higher amounts, up to $200.

If you don’t enroll in this service or if you try to overdraw by a higher amount, Chime will simply decline the transaction if you do not have enough funds in your account. You won’t be charged a fee if a transaction is declined.


Ally Bank, which provides online banking, waived overdraft fees at the start of the COVID-19 pandemic and decided to permanently eliminate them on all accounts nationwide in June 2021. You’ll never be charged an overdraft fee — and you can set up extra protection. 

For example, if your Interest Checking Account is linked to your Online Savings or Money Market Account, and you accidentally overdraw, Ally will transfer money over, rounded up to the nearest $100. This service limits these transfers to six withdrawals per statement cycle. 

You could also qualify for CoverDraft service, which provides up to $250 in temporary relief for a transaction when you overspend. You’ll get 14 days to bring your balance out of the negative, with your next deposit automatically applying to the overdrawn balance. If your account does not have sufficient funds to cover the transaction after two weeks, Ally could restrict your withdrawals. 


Aspiration is an online-only financial firm, not a chartered bank, offering a variety of accounts, with a focus on sustainable spending. The firm doesn’t offer traditional savings or checking accounts, but customers can open a cash management account for daily transactions called Spend & Save, which has separate checking and savings balances.

Generally, Aspiration tries to avoid processing transactions if you don’t have sufficient funds. “We are usually able to prevent the processing of checks, ATM withdrawals, debit card purchases or online transfers from happening when our members don’t have enough funds in their account to cover them,” said Aspiration CEO Andrei Cherny. 

However, if you do accidentally overdraft and your account falls into the negative, you won’t be charged a fee.


A merger between BB&T and Suntrust, Truist bank recently launched Truist One Banking, which offers two checking accounts without overdraft fees. These accounts allow you to overdraw without incurring a fee. If you reach a negative $100 balance, transactions will then be declined. This overdraft feature will be available to Truist customers who have made a deposit of $100 or more for two consecutive months

If you’re not eligible for this service, you still won’t be charged a fee for overdrawing. Instead your transactions will be declined.

Truist also offers free overdraft protection, which lets you link your checking account to a savings account or line of credit in case you overdraw. This would then transfer a balance from the linked account over to cover the charge.

While Truist One Banking is free of overdraft fees, Truist also eliminated overdraft fees for many existing bank accounts for its other banking services, according to Derik Farrar, Truist Retail Community Bank Head of Personal Deposits.

Bank of America

Beginning in February, Bank of America eliminated its nonsufficient funds fees, and added protection so that customers can’t overdraw their accounts at the ATM. In May, it reduced overdraft fees from $35 to $10 per transaction. Along with reducing these fees, the bank also eliminated the $12 Balance Connect™ service charge to transfer funds from linked accounts to overdrawn accounts. 

Wells Fargo

Wells Fargo eliminated a few fees associated with overdrawing this year — but they aren’t going away completely. If you’re enrolled in Wells Fargo’s free Overdraft Protection service, you won’t have to pay fees when a linked account covers an overdraft. You also won’t have to pay a returned item fee, or nonsufficient funds fee, if Wells Fargo returns a check or electronic transaction unpaid. 

Otherwise, Wells Fargo still charges $35 if you overdraw your account, but if you make a deposit that covers the amount before the cutoff time on the same business day, the bank will waive the fee.

Later in 2022, Wells Fargo says it will offer more features that could help customers avoid overdrafts, including a 24-hour grace period before charging fees.

U.S. Bank

U.S. Bank stopped charging nonsufficient funds fees in January. It also increased the amount your account can be overdrawn without incurring a fee from $5 to $50. Once your account reaches a negative balance of more than $50, you’ll have until the following day to deposit funds to avoid the $36 fee. You can sign up for a service so the bank can alert you by text message or email if your balance is low, allowing you to replenish your funds and avoid the fee. 


In November 2021, Santander Bank increased its overdraft threshold from $5 to $100 so that if your balance is overdrawn by $100 or less, you won’t be charged. If you overdraw more than $100, you’ll be hit with a $35 fee. 

Santander also reduced the number of times you can be charged each day for overdrafts, at a maximum of three times per business day. It also eliminated its $12 Overdraft Protection Transfer Fee, meaning you won’t be charged when funds are transferred to your overdrawn checking account from your linked deposit account. 

Alliant Credit Union

Alliant Credit Union is the largest credit union in Illinois and one of the largest in the country, offering online and mobile banking. In August 2021, Alliant eliminated overdraft fees and nonsufficient funds fees on all checking and savings accounts. Members can also join the bank’s Courtesy Pay program, which will cover checks, electronic payments and transfers that won’t clear due to insufficient funds, but you must deposit the overdraft amount into your account within 30 days.  Alliant doesn’t charge a membership fee to enroll, unlike some credit unions, which may charge a base of $5 for signing up.


How much do overdraft fees cost?

Overdraft fees vary by financial institution, but typically cost $30 per overdrawn transaction, according to the Federal Deposit Insurance Corporation. According to a Bankrate study, overdraft fees currently cost $33.58 on average. And the fee is usually fixed regardless of the transaction amount — some banks charge the same whether you overdraw $1 or $100. Some banks also charge you each time you overdraw, even if it happens within the same day.

Which banks have indicated that they will eliminate or reduce overdraft fees in the future?

Since overdraft fees have come under fire in recent years, some banks recently decided to end this practice or create new accounts without these fees. Other banks have simply cut back on the fee amount. The following banks have made formal announcements that they will be changing their overdraft fees policy sometime this year: BMO Harris, Citizens Bank and Keybank. 

What are some ways to avoid overdraft fees?

If your bank currently charges overdraft fees and you want to avoid them, switch to another bank that doesn’t charge them. If you don’t want to switch banks, here are some other options: 

  • Opt out: Talk to your credit union or bank about opting out of overdraft fees.  Once you opt out, transactions that exceed your available balance will be declined. Just keep in mind that if a merchant rejects your payment due to insufficient funds, your bank may hit you with a nonsufficient funds fee. 
  • Link your accounts: When you link accounts, any amount not covered by your checking account will automatically be covered by your savings account. Assuming you have money in savings, this is a far less costly option.
  • Sign up for low-balance alerts: Your bank may offer low-balance alerts through email or text message. These alerts will notify you when your balance falls below a certain threshold, which can allow you to add funds or avoid overdrawing.

What is being done to address overdraft fees on a national level?

Overdraft fees can pile up quickly, and they’re costing Americans billions of dollars every year. Both the House of Representatives and Senate in the US proposed bills last year to limit overdraft fees in order to protect consumers. Those bills haven’t moved beyond the initial introduction phase yet, and so, for the time being, overdraft fees continue to hang over us.

How are other banks responding to overdraft fees?

Some banks haven’t reduced or eliminated their overdraft fees, but have added ways to protect against them. For example, PNC’s Low Cash Mode will give you 24 hours to bring your account balance at least to $0 before you’re charged a fee, and you’ll also have the option to link a savings account or line of credit in case you overdraw your checking account.

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.


Read Now: Macs, MR, and more: Everything coming from Apple in a jam-packed June – 101 Latest News



WWDC 2023: Tim Cook steht vor einer Herausforderung

#Macs #coming #Apple #jampacked #June

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Read Now: Best iPhone 14 Camera Accessories – CNET – 101 Latest News



Best iPhone 14 Camera Accessories     - CNET

#iPhone #Camera #Accessories #CNET

$90 at Amazon

Aputure MC LED video light

Powerful lighting on a budget

$100 at PolarPro

PolarPro Apex Minimalist tripod

PolarPro Apex Minimalist tripod

Our favorite iPhone tripod (Update: Out of stock)

Not too long ago, photographers used to laugh at smartphones. A lot has changed over the years, however, with many phone launches focusing on the cameras themselves. Now smartphones can take impressive photos on par with even the best cameras. All you need is some additional gear, and you can be shooting photos that border on professional-grade. 

The iPhone 14 and 14 Pro offer excellent features that creative professionals will enjoy, like multiple rear cameras — including a superwide-angle lens — that can capture incredible photos and videos. 

Perhaps the most notable, however, is the addition of ProRes, which started in the previous generation and is available on the iPhone 14 Pro and Pro Max. It enables you to produce a far more professional-looking postproduction look. This means that, now, creative professionals can incorporate these phones into their productions. 

And sure, you can simply walk outside with your phone and snag some beautiful footage, but there’s a wealth of iPhone 14 accessories you can use that’ll help elevate both your videos and photos to new levels to wow your followers.

Here’s our list of the best gear to pair with your iPhone to give your shots a boost. Every iPhone 14 accessory listed here has been tested by us to make sure it works as well as it’s supposed to. If it didn’t impress, it didn’t make the list. Look no further if you’re after the best iPhone filming accessories to take your skills to the next level. These excellent accessories will make shooting a breeze. 

Read more: Best iPhone 14 and iPhone 14 Pro Cases You Can Buy Right Now

The best iPhone camera accessories 

There’s no one accessory that by itself will revolutionize your iPhone photography, as different products bring different things to the table. I love the Moment Anamorphic lens as it lets you achieve a stunning cinematic look with your phone. DJI’s phone gimbal meanwhile provides superb stability to get super smooth-looking shots, while the Aputure MC LED video light simply lets you light up the scene you’re shooting when the sun goes down. 

But an LED light will do nothing to improve your audio, so you’ll need to look towards the Rode VideoMicro if sound quality is important. These items all add something different to your photo and video production and used together let you take your mobile video production to a whole new level. Want some inspiration? Here’s my guide for shooting better video with your phone. 

SmallRig Mobile Video Cage

Andrew Hoyle/CNET

Camera cages are common tools that let you attach a wide variety of accessories to a DSLR, including lights, microphones, handles and external monitors. SmallRig’s new mobile cage offers much the same functionality, but for your iPhone, and with multiple mounting points around the edge to attach whatever accessories you need like microphones. 

I’ve been using the cage with an attached Aperture LED light, PolarPro tripod and Rode microphone (all seen below), which makes for an incredible mobile vlogging rig. SmallRig also offers various attachments of its own, including top and side handles, which help provide stability when you’re hand-holding while filming. The cage is solidly built from aluminum, has bayonet lens mounts (see below), and has a convenient clasp for easily slotting your phone in and out. 

Moment Anamorphic lens

Andrew Hoyle/CNET

Anamorphic lenses are normally something you’d find in a professional cinematographer’s kit bag. These lenses provide a wider aspect ratio that you get in a wide angle lens, along with distinctive blue-line lens flares that give footage a much more filmic quality. Moment’s mobile anamorphic lens does exactly that for your iPhone.

Clip it on and it’ll squeeze your footage into the shorter, wide shots format that completely transforms the look of the video you can take from your phone. I’ve absolutely loved the look of my phone footage using the lens and it’s a must-have for any budding film producers wanting to up their game with their phone. 

You’ll need to shoot with apps like Filmic Pro that let you “unsqueeze” the footage so it doesn’t look all distorted on most cameras. The lens uses a bayonet mount that attaches to compatible cases, including Moment’s own ones or a variety of third-party options, including the SmallRig cage mentioned above.

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Aputure MC LED video light

Andrew Hoyle/CNET

iPhone cameras don’t have the greatest lighting, so having a backup light is always a good idea. This USB-C rechargeable video light is packed with LED lights and is small enough to fit into the palm of your hand but puts out a huge amount of light when you’re short of proper lighting.

It’s great for lighting up your subjects, whether that’s for portraits, product photography or macro or to light up yourself if you’re vlogging at night. The power output is easily adjustable, as is the color temperature of the light. 

It also has a variety of creative light effects to spice up your production, including simulations of fireworks, lightning, a flickering fireplace or the flashing red and blue of police car lights.

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DJI Om 5 gimbal

Andrew Hoyle/CNET

The iPhone 14’s built-in image stabilization is already superb, but for an even smoother ride, consider using a dedicated gimbal like DJI’s OM 5. It evens out all but the most aggressive movements, allowing you to get smooth tracking footage of you running behind your subject as you film a chase scene. 

It also has a built-in extendable selfie stick, which not only makes it great for YouTube vloggers, but also allows for more creative angles by holding it up higher, or even flipping it over and having the camera run close to the ground or through grasses.

Rode VideoMicro microphone

Andrew Hoyle/CNET

Recording good audio for your vlogs or your next iPhone-based short film is crucial, and while the iPhone does a decent job of capturing audio, a dedicated microphone will take things to the next level. Rode’s VideoMicro shotgun mic can plug into your phone’s Lightning port (via an adapter) and provides crystal-clear audio when recording with the standard iPhone camera app or any third-party video app, making it one of the best iPhone camera accessories on the market. 

I love using it on top of my phone for vlogging and the included wind shield is superb for cutting out wind noise when working on location. Alternatively, get a 3.5mm extension cable and you can try using the mic on the end of a boom pole for recording audio in a conversation you’re filming.

It’s a great investment if you’re looking for a directional microphone.

Profoto B10

Andrew Hoyle/CNET

At $1,349, industry goliath Profoto’s B10 studio flash will be little more than a pipe dream for most. But if you want to get truly professional lighting on location or in a studio using your iPhone, the B10 is second is one of the best iPhone camera accessories. . This pro flash is designed primarily for use with DSLRs but can also be used with iPhones and Android phones via the Profoto app. If you’re ready to take your smartphone photography to the next level, it allows you to get shots with your phone that would simply not be possible to achieve without it. 

Sure, most pros probably wouldn’t consider shooting a major project on just their phone, but it’s a potentially great backup in case of camera failure, or simply a lightweight and convenient way to test ideas in the field without hauling bags of gear around.

It also comes with a carrying case that will protect it from other elements. Its rechargeable battery provides a battery life that can provide more than 400 full flashes.

Moment MagSafe tripod

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Rather than use screw clamps to secure your phone in place, Moment’s tripod mount uses Apple’s MagSafe system, which makes it incredibly quick to pop your phone in place and start shooting. When you’re done, just rip your phone away from the magnetic disk and pop it back in your pocket. Easy!

The minimalist approach to the mount’s design makes it extremely compact so it’s no hassle to always carry it with you for when inspiration strikes. The magnets are strong, too, so you don’t need to worry about your phone popping loose while you’re walking along. It’s available as a mount by itself, or with the cold-shoe bracket (pictured) to attach a microphone when vlogging.

PolarPro Apex Minimalist tripod

Andrew Hoyle/CNET

Having a solid tripod can make all the difference in getting stable, wobble-free video, particularly if you want to put yourself in the frame. PolarPro’s Apex Minimalist tripod is a great option for mobile producers, as its compact size means it’s easy to chuck into a backpack, but it’s burly enough to support bigger cameras should you need to. 

I love using it for static shots, and for holding my phone up to shoot vlogs while walking around. It comes either with an integrated twist-locking ball head, or as the tripod legs only. I prefer the latter as it allows me to use my own compact ball heads, which are more stable with heavier loads.

How we test iPhones

We test phones in real-world scenarios, looking at the performance of the processor, battery and cameras, and judge how each model compares to its competition. We take value into account, as well as extra features like storage, connectivity, software additions and anything else that will make a real difference to your life with the product. 

Accessories like the ones seen in this list are treated in exactly the same way; they’re put to real-world use both indoors and outside, evaluating how well they perform and whether they’re worth the money. Everything that’s featured here has been tested by our own fair hands and if it didn’t impress, it didn’t make the list. 

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Read Now: Ford offering flexible EV leases to Uber drivers – 101 Latest News



Ford offering flexible EV leases to Uber drivers

#Ford #offering #flexible #leases #Uber #drivers

Ford is teaming up with Uber to offer flexible leases on electric vehicles to rideshare drivers.

Uber is under pressure from governments around the world to get more of its drivers into EVs to reduce tailpipe pollution and fight climate change. And Ford is eager to get more of its Mustang Mach-Es on the road as it pours billions of dollars into EV production while incurring huge losses.

Under the new Ford Drive program, Uber drivers would be able to lease a Mustang Mach-E for flexible terms, either one or four-months, depending on the location. And there are other benefits as well. According to Ford:

The vehicle is delivered to the driver within two weeks, and they use the Ford Drive app to manage payments and service. In each city, the Ford Drive team works with local dealers to purchase a fleet of Mach-Es. Service and maintenance of those vehicles are conducted through dealers as well. 

But the lease program won’t have a wide rollout yet. To start out, the companies are piloting the program in three cities: San Diego, Los Angeles, and San Francisco. Ford Drive actually launched already in San Diego, with Ford leasing 150 EVs to Uber drivers in 2022. California is the biggest EV market in the US, and the biggest market for EVs driven on Uber’s ridehail platform.

Uber has been operating its own EV ridehail service in dozens of cities since last year. Only premium EVs, like Tesla, Polestar, and, of course, the Ford Mustang Mach-E, would be considered eligible for Comfort Electric trips. It will sit alongside the company’s other EV product, Uber Green, which gives drivers an extra fee (usually $1) to use electric vehicles.

This is the second major partnership to be announced by Ford in recent days. Last week, the automaker said it would adopt Tesla’s EV charging standard in the interest of opening up Elon Musk’s dependable and widespread charging network to Ford EV owners.

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