This week, SunTrust Bank will join some of the other big banks in making it more expensive for customers to use an out-of-network ATM. Other things to look forward to this week include announcements from the Federal Reserve and Bureau of Labor Statistics.
- The Federal Reserve will hold its next board meeting on Wednesday. During the last meeting, the central bank said that it is no longer basing its interest-hike decisions on the progress of the U.S. unemployment rate. It is expected that the Fed’s sentiment on the economy will not change much from its last meeting in March.
- The next edition of Series I savings bonds will be available for purchase on Thursday. But, if you purchase I bonds before that day, you can earn an effective APY of 1.20% after 12 months, which beats out the top nationwide 1-year CD rates.
- SunTrust Bank will raise the fee to use an out-of-network ATM from $2 to $2.50. The change is slated to take effect on Thursday. A bank spokesperson said that the change was part of a review of its fee policy. Bank of America and Citibank are two other major U.S. banks that have made similar fee hikes in the past year.
- Starting Thursday, foreign transaction fees on all Delta-branded credit cards will no longer be charged to cardmembers. Currently, the foreign transaction fee for all Delta credit cards is 3 percent of the transaction amount. For cardmembers who frequently use their cards abroad, the fee change could mean plenty of savings, depending on how much is typically spent on purchases during international trips.
- On Friday, the Bureau of Labor Statistics will release the unemployment report for the month of April. In the past four months, the jobless rate has remained relatively flat. The unemployment rate in March was 6.7 percent, which is much lower than 7.5 percent jobless rate one year earlier.