Indentity Theft

While everyone these days should be aware of Identity Theft and protect themselves from it by being careful what you do with your personal information, sometimes thieves can still steal it from you.  Take a look at the following story I read this morning, about how thieves have stolen money from ATM machines in New York City:

Hacked ATM's Steal $500G from Bank Customers

Now there is one more reason not to use ATM's!  Besides this new threat of having your ATM card and PIN number stolen, many people find it difficult to remember to deduct their ATM and debit transactions from their checkbook balances.  The result?  Overdraft fees!  Banks charge on average $30 per overdraft and that can add up quick.  Think you have free checking?  Think again.  To make matter worse, banks are not very likely to refund any of these charges to you, unless it was their error.  Banks need this revenue to make ends meet and to "pay" for the "free" checking accounts they are giving you.  Banks don't make money on checking and savings accounts anyway, or CD's for that matter.  Banks make money by lending it out to you and charging you interest.  Car loans, mortgages, and credit cards.  That's how they make money!  So check your balances everyday...use your online banking and avoid those nasty fees!  Besides, the tellers like to talk to you.  Come in and say Hi!