A Public Savings Bank Card is secured card and issued by an FDIC insured bank that is located in the state of Pennsylvania. It is a great way for people that have no previous history to start to build their credit worthiness. Applications are also considered from those who have experienced past problems, and would like to build some positive history.
The new consumer friendly reforms that the government has pushed down the throats of the banks have taken effect. And do the banks ever hate it! No more are they going to be able to sign you on for overdraft protection without your permission and charge you a $35 overdraft fee each time you spend more than what you have in your bank with your debit card or a check. Those fees kick in for going over as little as two dollars. They actually make billions of dollars this way each year on the backs of the paycheck-to-paycheck crowd. Some of these families actually pay in excess of $1000 each year just for going overboard a few times each year by as little as two dollars at a time. If the banking customer can’t really manage a simple checking account (or a savings bank account with a debit card on occasion) and make sure they don’t go over, surely it isn’t the bank’s fault, I know is that?