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Debates Forum

  1. Donation rwingett
    Ming the Merciless
    04 Nov '11 20:42
    http://money.cnn.com/2011/11/03/pf/move_your_money_day/index.htm?hpt=hp_t2

    From the article:

    Customers are dumping their banks in droves ahead of the nationwide "Move Your Money" and "Bank Transfer Day" movements this Saturday.

    Given the recent spotlight on attempts -- and ultimate failures -- by some of the nation's biggest banks to tack on new debit card fees, thousands of disgruntled consumers have already either left or pledged to leave their current bank for a community bank or credit union, which are known for having fewer and/or lower bank account fees.

    At least 650,000 consumers have already joined credit unions since Sept. 29, the day Bank of America (BAC, Fortune 500) announced plans to impose its controversial $5 debit card fee, according to a nationwide survey of credit unions by the Credit Union National Association...


    The "banxodus" is under way. People are leaving the big banks in droves. If you want to end the tyranny of the big banks, this is how you do it. My wife and I took our money out about two years ago. If you haven't yet, then quit reading this and do it. There's still time. Go. What are you waiting for?
  2. Subscriber no1marauder
    It's Nice to Be Nice
    04 Nov '11 20:52
    Originally posted by rwingett
    http://money.cnn.com/2011/11/03/pf/move_your_money_day/index.htm?hpt=hp_t2

    From the article:

    [quote]Customers are dumping their banks in droves ahead of the nationwide "Move Your Money" and "Bank Transfer Day" movements this Saturday.

    Given the recent spotlight on attempts -- and ultimate failures -- by some of the nation's biggest banks to tack on ...[text shortened]... et, then quit reading this and do it. There's still time. Go. What are you waiting for?
    Some money.
  3. 04 Nov '11 20:54
    Too much hassle.
  4. Subscriber WoodPush
    Pusher of wood
    05 Nov '11 04:06
    Yeah, I mean, who really keeps a significant amount of cash in BofA accounts anyway. I use it for free checking, free ATM access, direct deposit, credit card auto-payments... all free.

    What, I'm going to throw away my free account in protest of debit card fees that I never used anyway, and they since backpedaled on?

    I just don't get it. Again, who really uses BofA as an investment mechanism in this day of age anyway? What, you really like that .005% APR on your interest bearing checking?
  5. Donation rwingett
    Ming the Merciless
    05 Nov '11 14:21 / 1 edit
    Originally posted by WoodPush
    Yeah, I mean, who really keeps a significant amount of cash in BofA accounts anyway. I use it for free checking, free ATM access, direct deposit, credit card auto-payments... all free.

    What, I'm going to throw away my free account in protest of debit card fees that I never used anyway, and they since backpedaled on?

    I just don't get it. Again, who r ...[text shortened]... is day of age anyway? What, you really like that .005% APR on your interest bearing checking?
    With the droves of people who are pulling their money out of BoA, it must be quite a few people. But it's not just bank accounts. It's credit cards as well. I had a Citibank credit card for years. I cut that up a while back and got a Wainwright bank Visa card. Wainwright bank gets consistently high marks for its stance on progressive issues. Betterworldshopper.org give them an 'A' ranking, for example.

    Edit: While both betterworldshopper.org and responsibleshopper both list Bank of America and Citibank as being tied for last in social responsibility.
  6. 11 Nov '11 00:35
    I haven't had my money in B of A for years, nor will I put it back. We have three credit unions to choose from locally. I have accounts in two.
  7. 11 Nov '11 01:13
    Originally posted by rwingett
    http://money.cnn.com/2011/11/03/pf/move_your_money_day/index.htm?hpt=hp_t2

    From the article:

    [quote]Customers are dumping their banks in droves ahead of the nationwide "Move Your Money" and "Bank Transfer Day" movements this Saturday.

    Given the recent spotlight on attempts -- and ultimate failures -- by some of the nation's biggest banks to tack on ...[text shortened]... et, then quit reading this and do it. There's still time. Go. What are you waiting for?
    So you do believe in free markets, and consumer pressure.
  8. 11 Nov '11 01:15
    Originally posted by rwingett
    With the droves of people who are pulling their money out of BoA, it must be quite a few people. But it's not just bank accounts. It's credit cards as well. I had a Citibank credit card for years. I cut that up a while back and got a Wainwright bank Visa card. Wainwright bank gets consistently high marks for its stance on progressive issues. Betterworldshop ...[text shortened]... pper both list Bank of America and Citibank as being tied for last in social responsibility.
    Is their interest rate lower?