Other banks had already announced such fees, but the fees were smaller and were only introduced in select markets. It was Bank of America's announcement that was the last straw. People are mad and they are closing account and doing their banking elsewhere. One consumer, Kristen Christian, has decided to do something about it.
Christian launched the now viral Bank Transfer Day movement. On Nov. 5, Christian and her thousands of followers have vowed to close their accounts at big banks and transfer their money to credit unions, banking institutions known to provide more personalized customer service.
Christian launched the now viral Bank Transfer Day movement. On Nov. 5, Christian and her thousands of followers have vowed to close their accounts at big banks and transfer their money to credit unions, banking institutions known to provide more personalized customer service.
Bank Transfer Day has its very own Facebook page filled with information about the day and what you can do to help spread the message. The page already has more than 21,000 Likes.
So why did Christian decide to do more than simply close her own account?
Kristen Christian says, "I started this because I felt like many of you do. I was tired — tired of the fee increases, tired of not being able to access my money when I need to, tired of them using what little money I have to oppress my brothers & sisters. So I stood up. I've been shocked at how many people have stood up alongside me.
So why did Christian decide to do more than simply close her own account?
Kristen Christian says, "I started this because I felt like many of you do. I was tired — tired of the fee increases, tired of not being able to access my money when I need to, tired of them using what little money I have to oppress my brothers & sisters. So I stood up. I've been shocked at how many people have stood up alongside me.
With each person who RSVPs to this event, my heart swells. Me closing my account all on my lonesome wouldn't have made a difference to these fat cats. But each of YOU standing up with me ... they can't drown out the noise we'll make." Source: Facebook.
Join Christian on facebook at "Bank Transfer Day"
Join Christian on facebook at "Bank Transfer Day"
You won't find me participating. It is a stupid and counterproductive activity. If you are unhappy with a bank you shouldn't have your money there in the first place. Moving it somewhere else just for the hell of it on a specific day serves no purpose. You should vote with your money every day of the year.
ReplyDeleteI am in the wrong country, but joining a credit Union seems the way to go. If people don't show BOA that the decision to charge has consequences they will just walk all over consumers.
ReplyDeleteSomebody should tell these geniuses that all banks are raising various fees because of the sheer brilliance of the Dodd-Frank financial reform bill. Unintended consequences are a bitch..... the cost of banking is going up all across the US.
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