After all the uproar that banks have started regarding overdraft fees for ATM and debit card transactions, the Federal Reserve has put a new rule in place that requires banks to get their customers’ consent before they are able to charge fees due to an overdraft. The rule is to go into effect on July 1st.

The rule came after consumer groups kept getting complaints from customers and members of Congress even said that the overdraft fees were unfair.

Many people believe that if their debit card is cleared for the charges, then there isn’t a problem with the amount of money in the bank.

I have always found it odd that overdraft fees always come from the smallest of charges and it is often something like a cup of coffee. I can only remember getting an overdraft fee once and it was for a soda from a convenience store. The only problem I had was the bank, which I had just visited and checked my balance, said I had more than $25 in my account.

It turns out some banks participate in a strange accounting practice that allows for small transactions to go through while deposits get put off.

I am really happy that the Fed got involved and decided to put this rule into effect. I wish it would have been put into place a bit earlier than July 1st of next year, but I suppose better late than never. Now if only some people were able to recover some of the overdraft fees that have been collected over the years for the “funny” accounting rules I was talking about earlier.

While it’s been a few years since I found myself angry about overdraft fees in my own bank account, after reading a few articles on the internet about other people incurring fees (and accumulating them over the course of a few days) I have once again found myself angry at banks for allowing people to incur these fees.

First of all, I know that banks make most of their money on fees that they charge their customers. I also know that it is a bit of an unsavory business practice to allow a customer to incur fees on top of fees all over the same few days.

How much do you have to put on your debit card until your bank decides that it’s time to start rejecting the card?

It works with prepaid cards, and I believe that debit cards should also work this way…If there isn’t enough money on the card it is declined. If there is enough money on the card, the transaction goes through flawlessly.

Perhaps banks think that they are doing their customers some kind of favor by allowing customers to get the insufficient funds fee on their bank account rather than just being declined in line at the grocery store.

You never hear stories about people getting NSF or overdraft fees on big purchases like the weekly grocery trip (which can be quite expensive for some) or even for purchases for over $20. It seems like every time I hear a story about someone getting overdraft fees, it’s typically on a cup of coffee or something small and under $10.

However, I do know someone who was allowed to overdraft their account by $500. This is why I have to ask the question, At what point does the bank say, “Wait…you can’t do that.”

Overdraft fees are stupid.

Starbucks said yesterday that it would be renaming one of its Seattle stores and adding alcohol and a hipster atmosphere to the store. The store will be known as 15th Avenue Coffee and Tea and will open next week. The “new” store will offer wine and beer along with the usual Starbucks coffee (and teas).

Once this tester store opens, the company said that it would like to open two more Seattle area stores “without” the Starbucks name where there isn’t currently a Starbucks location. Representatives for the company also said that opening similar stores in other cities isn’t out of the question if these stores are a success.

“It’s interesting,” said Morningstar analyst R.J. Hottovy, “especially since the Starbucks brand has been such an integral part of their success.”

Hottovy said he thinks the Starbucks brand still “resonates” with those who drink coffee regularly. But, he added, with the recession now in its second year, the brand may be struggling more because it is considered “premium,” and therefore expensive, by consumers.

Over the past few months, Starbucks hasn’t exactly been able to keep it’s sales at a steady growth rate because in the recession, customers try to cut out things that they consider unnecessary…and a $4 cup of coffee is unnecessary on many budgets. Of course, growth isn’t helped any by the advertising campaign launched by McDonald’s and its line of McCafe drinks.

Perhaps Starbucks is trying to reach a new type of consumer. If Starbucks is trying to reach a new customer base, it is likely trying to reach the kinds of consumers that will feel so insulted that they’ve been “tricked” by “the man” that they will never come back or bring back their hipster friends. No, I’m just kidding. It’s trying to target those consumers that enjoy local, live music.

There is a huge market right now for energy drinks. When it comes to growth in the carbonated and non carbonated beverages markets, the only things causing growth is energy drinks and diet sodas.

Since energy drinks are so insanely popular right now (I’ll go ahead and blame it on the fact that no one is getting the amount of sleep they need and are working longer hours), here are some things to watch out for with your favorites.

*Remember, if you can, go for the Sugar Free or “Low Carb” versions of the drinks, they nearly eliminate calories and you won’t get that weird sugar rush.*

5 Hour Energy
The 5 hour energy shot claims to give you five hours of energy without crashing or jitters and it’s sugar free!

While it isn’t published exactly how much caffeine is in one of these 2 ounce shots, the company claims it’s about as much as a cup of coffee. In my opinion, this is a better alternative to coffee because I have a very coffee-intolerant stomach. If you’re a coffee drinker or an energy drink fan, like myself, then the caffeine in one of these should be just enough to give you a quick pick me up, but you may not feel the effects for the full five hours.

Red Bull (The 8 ounce can)
The regular version of this drink has 110 calories and 27 grams of sugar. It also contains 76 mg of caffeine, which is less than most restaurant coffees. It also comes with Taurine and B-Vitamins. B-vitamins are supposed to help boost the metabolism, but reports say that taurine work against that effect (and sugar definitely doesn’t help in the fight against calories).

Red Bull has been deemed safe by a 2008 research study that was presented to the Federation of American Societies for Experimental Biology. There were no negative side effects on those who drank a can.

Red Bull is my particular favorite. I keep a 4-pack in my fridge at all times. In my opinion, the sugar free version of this drink is better than the regular version and you aren’t left with that awful “I just drank syrup” taste in your mouth.

AMP
This is the energy drink that is supposed to be from Mountain Dew. The 16.9 ounce can has 220 calories, 58 grams of sugar, and 142 mg of caffeine. If these numbers are discouraging, there is also a sugar free version of this drink.

This can be considered a big Red Bull, except it tastes very different in my opinion. It has all the same supplements like taurine, ginseng, and guarana. From personal experience, if you like this drink it is typically cheaper in the four packs than Red Bull because it comes in a can that’s twice the size.

Sobe Energy Adrenaline Rush
This has been deemed the “Worst Energy Drink” due to it’s 260 calories, 66 grams of sugar, and 152 mg of caffeine in a 16.9 ounce can. It contains D-ribose, L-carnitine, and taurine which are natural compounds that your body uses to maintain its metabolism.

Due to the high levels of sugar in this drink, there is a higher risk for a fairly massive sugar crash afterward. This drink has the same amount of sugar as 5.5 scoops of Edy’s slow churned Rocky Road ice cream.

I remember when Adrenaline Rush came in the smaller 8.9 ounce cans. It was the very first energy drink I ever had. I honestly can’t stand the way they taste now and their sugar free version leaves something to be desired.

Starbucks, however, didn’t want to ruin all the fun. Now Starbucks is giving the free tall coffee to anyone who asks.

There are other “I Voted” freebies today:

Krispy Kreme is giving away a free star shaped doughnut if you show your “I Voted” sticker (I didn’t get one of those, my polling place didn’t have them)

Some Chick-fil-A locations are giving away chicken sandwiches.

Ben and Jerry’s – a free scoop of ice cream

Books-A-Million – another free cup of coffee.