Take a hike
Bad news for Citibank customers--your check account fees are going up. And it is not just by a dollar or two. Starting in January, monthly fees on Citi Rewards checking accounts will increase from $20 to $25. Fees on basic accounts will rise from $10 to $12.
There are ways to avoid these fees; but the requirements to do so have changed. Lines of credit, mortgages, credit card and loan balances no longer count toward the monthly balance needed to get a waiver.
Citibank says it continually evaluates the price of its products and adjusts fees based on factors that include servicing costs and marketplace pricing.
If they take my stapler...
You can go ahead and add Staples to the list of possible hacks this morning. The company says it is investigating a possible credit card breach and has contacted law enforcement.
Security blogger Brian Krebs says it appears customer credit card information was stolen from several northeastern stores.
Where's the "unlike" button
Facebook may unfriend the US Drug Enforcement Administration. Facebook officials sent a letter to the DEA demanding that agents stop impersonating drug users on the popular social media site. The letter follows a Buzzfeed report that detailed how the DEA arrested a woman then seized her phone and created a Facebook account in her name.
An agent posted pictures of the woman, with her son, on Facebook. She is suing the agent, but the Justice Department is backing him up, saying agents have the right to do such things.
That's a negative
Apple Pay is here; but there are a few cons you should be aware of with the new program. First, while 220,000 merchants accept Apple Pay, that is actually a very limited figure. CardHub.com says that is only five percent of total retail locations in the US.
If you lose your phone--or the battery dies--you have lost your wallet if you rely only on Apple Pay. And on average, Americans lose their phones every 3.5 seconds.
It may also lead to a tendency to overspend because a digital payment system might seem less real.
If you have ever watched European soccer, you have noticed all the players' jerseys are covered in ads. Get ready for that in America.
The NBA's new tv contract mentions a new space on jerseys for ads. The other major leagues: the NFL, MLB, and NHL are all considering ads. And it is all because of the money involved.
Spanish soccer team Real Madrid makes $40 million from a deal with Emirates Airlines for jersey advertisements. American leagues believe they can double that price.
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