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A TikToker is claiming that she was racially profiled by Citibank. The TikToker — who goes by the username of Baby Storme — shared tearfully in a viral TikTok post that she attempted to deposit a check from her father at Citibank to go toward her rent in Los Angeles, CA. The user was serviced by an undisclosed bank teller who allegedly confiscated her check and stated the bank could not verify it. “So tell me why I literally never experienced what I just experienced. I’m not the kind of person to come on here crying,” Storme said on TikTok. “My dad sent me a check to pay off my rent for the next year and that’s it, and I go into Citibank to cash the check so I can pay my rent and they confiscate my check and refuse to give it back.” Baby Storme requested for her check to be returned and had plans to deposit the funds at another banking institution. The bank teller continued to deny her request. After further questioning, Baby Storme accused the bank teller of racial profiling. “Do...
Citi is following through on its promises to eliminate overdraft fees. The financial institution is now one of the only top five banks in the U.S. (based on assets) to completely get rid of various charges affecting consumers daily. Now, those with Citi Retail Banking consumer deposit accounts no longer have to worry about overdraft fees, returned item fees, or overdraft protection fees. The move is a part of the bank’s ongoing commitment to providing financial inclusion for individuals in underserved communities. As previously shared by AfroTech, the bank is also on a mission to advance economic progress across the nation. Protection from overdraft fees doesn’t just stop at consumers seeing an extra charge or two on their bank account. Citi provides options for combating the issues. As a part of the new overdraft protection services, they will offer two choices for consumers looking to cover negative balance transactions. One includes Safety Check, which transfers available funds...
*Editorial Note : The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership . This article was last updated Sep 03, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website . Your business is up and running. You’re proud of your brand and your product. Then, you get a denial on the small business credit card you’d hoped would help your business move forward. Don’t panic — you can take steps to understand what happened and resolve the issue. In this article: Figure out why you were denied Consider alternative options The bottom line Figure out why you were denied Your personal credit history will be checked when you apply for a business credit card, so this is a good place to start. If your personal FICO Score is below 700, you’ll have fewer...
*Editorial Note : The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership . This article was last updated Aug 29, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website . If you operate a small business and are thinking about getting a small business credit card , you may have wondered if a business credit card will affect your personal credit history. The short answer is it can, but only if you don’t handle the account responsibly. For a more detailed explanation, read on. In this article: Business card actions that impact personal credit Reporting to the consumer bureaus Being smart with a business card Who’s responsible Business credit cards vs. personal credit cards The bottom line Read: How to Choose a Business Credit Card Business...
Maybe you’ve been running a small business for a while. You might have a small business card that has served its purpose — but you’re not sure if it’s still what you need. How do you make the call whether or not it’s time to upgrade to a different card? In this article: Evaluate your business needs Boost your spending power Travel rewards or cash back? Avoid interest charges with 0% intro APR Get more tools and support from your card The bottom line Evaluate your business needs Before you do anything, evaluate your business needs. Here are some examples of when it’s time to consider upgrading your card: Your current credit card limit isn’t high enough to cover what your business spends each month. You’re looking to earn rewards to offset large purchases or fund future travel. You’re planning a big purchase and need a 0% interest period to pay it off over time. You want more tools and support from your card. Most card issuers offer different levels of business cards, allowing...
Ripple is a blockchain company known for its campaign to persuade the financial industry to use XRP to facilitate cross-border payments. The team recently hired Kahina Van Dyke as Senior Vice President of Business and Corporate Development. The new role will see her focusing on driving new partnerships across the global finances industry. Van Dyke is a veteran in the banking industry with more than 20 years of experience at companies such as Mastercard and Citibank. She makes this transition from her most recent role as Facebook’s Global Payments Director. In an interview with Fortune, she stated that the international payment system’s web of “correspondent banks” needs to be shaken up, which aligns with what we’ve seen from Ripple. With experience at a fast-paced company like Facebook, Van Dyke should be able to help advance the financial industry while blockchain and cryptocurrencies are becoming more familiar.