Nov 5 Bank Transfer Day

  • GQjock

    Posts: 11649

    Nov 03, 2011 11:02 AM GMT
    Bank Transfer Day encourages bank customers to transfer their cash out of big banks to credit unions. The event is in response to aggressive fees that big banks plan to roll out, notably Bank of America's decision to charge its debit card users with a $5 monthly fee and Wells Fargo's $3 charge of the same. The Facebook page for the event states the following: "Together we can ensure that these banking institutions will always remember the 5th of November!! If the 99% removes our funds from the major banking institutions to non-profit credit unions on or by this date, we will send a clear message to the 1% that conscious consumers won't support companies with unethical business practices

    220px-Bank_Transfer_Day_poster..jpg


    Big Banks at Risk on "Bank Transfer Day"
    http://www.prnewswire.com/news-releases/big-banks-at-risk-on-bank-transfer-day-133139978.html

    On November 1, 2011, Bank of America announced plans to nix $5 debit card fee in response to customer feedback.
  • Posted by a hidden member.
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    Nov 03, 2011 11:39 AM GMT
    Credit unions rock.

    Fuck you Bank of America.

    middle_finger-214x300.jpg

    That is all.

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    Nov 03, 2011 11:59 AM GMT
    Kinda agree with you two.

    Although Bank Of America has retracted their plans to charge the $5.00 per debit transaction fee in January 2012 they will find a new sneaky way to charge it. Evil is as evil does...
  • djzilla

    Posts: 138

    Nov 03, 2011 12:16 PM GMT
    Amen to this!!!!

    I work for a big bank and I don't have an account with them. Why? Fees. The fee income generated by banks has gotten completely out of hand. Banks are no longer a service industry but a corporation like any other looking to make profits to their shareholders.

    Credit Unions all the way!!!!
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    Nov 03, 2011 12:18 PM GMT
    In Capitalist America, Bank robs you!
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    Nov 03, 2011 12:41 PM GMT
    I've been using a credit union for years and it really is nice. No fees for checking (they pay me interest), great rates for my Visa card, and they will really help you if you need a car loan or other. Why go with big banks? You're just throwing money away.
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    Nov 03, 2011 1:43 PM GMT
    vincent7 saidI've been using a credit union for years and it really is nice. No fees for checking (they pay me interest), great rates for my Visa card, and they will really help you if you need a car loan or other. Why go with big banks? You're just throwing money away.
    26 yr credit union member here. and that isnt gonna change!icon_biggrin.gif
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    Nov 03, 2011 1:50 PM GMT
    im sticking with BofA for now. I dont want to pay fees every time I need an ATM. And the credit union here has shitty parking and crappy customer service.
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    Nov 03, 2011 1:52 PM GMT
    Dallasfan824 saidim sticking with BofA for now. I dont want to pay fees every time I need an ATM. And the credit union here has shitty parking and crappy customer service.
    I havent paid an atm fee ever..

    in several states over the years.. Little credit unions aren't worth it.. You need to look into the BIG ones..

    Why go to the credit union? All my banking is online, even depositing checks....icon_rolleyes.gificon_rolleyes.gificon_rolleyes.gif
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    Nov 03, 2011 1:55 PM GMT
    TropicalMark said
    Dallasfan824 saidim sticking with BofA for now. I dont want to pay fees every time I need an ATM. And the credit union here has shitty parking and crappy customer service.
    I havent paid an atm fee ever..

    in several states over the years.. Little credit unions aren't worth it.. You need to look into the BIG ones..

    Why go to the credit union? All my banking is online, even depositing checks....icon_rolleyes.gificon_rolleyes.gificon_rolleyes.gif


    The one I would belong to is pretty big I think. Its for people who work in entertainment. I would get nailed on ATM charges because here banks charge for using an ATM that isnt theirs.
  • turtleneckjoc...

    Posts: 4685

    Nov 03, 2011 1:56 PM GMT
    Count me in as one of those sticking with Bank Of America (for now). My branch gives me great customer service and my check card is tied into getting me frequent flyer miles on US Airways (and I already pay an annual fee for that service).
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    Nov 03, 2011 1:58 PM GMT
    Another 20-year CU veteran here, echoing what is above. And I do NOT pay ATM fees. There is a credit union network that allows you to use participating ATMs all over the place, and mine also reimburses me for up to 12 out-of-network transactions. I can also go to any 7-11, QuickChek, CVS (plus McDonald's in NYC) and use their ATM for free.

    We went into a network partner CU when my friend (member of same CU) needed to do a deposit on vacation out of state. Not only did they help us, but the employee overheard us talking about renting a car and let us know that - as members - we were entitled to discounts at a particular place.

    There are some inconveniences here and there, but at this point I do not see any that don't make a bigger bank more attractive.
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    Nov 03, 2011 2:02 PM GMT
    You go, Anonymous! Go Getum! icon_biggrin.gif
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    Nov 03, 2011 2:02 PM GMT
    So I could switch to a credit union because Bank of America was going to charge me an additional $5 month, but then I get hit with $2 fees every time I use a non-Credit Union ATM? No thank you.

    Also, BofA may be an evil corporation, but their website is fantastic. Good luck at your itsy-bitsy local credit union doing instant online transfers, making online bill payments to practically any company, importing your retirement plan, viewing your monthly budget, etc, etc, etc. I like Bank of America because I never have to go to Bank of America.
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    Nov 03, 2011 2:09 PM GMT
    endo saidSo I could switch to a credit union because Bank of America was going to charge me an additional $5 month, but then I get hit with $2 fees every time I use a non-Credit Union ATM? No thank you.

    Also, BofA may be an evil corporation, but their website is fantastic. Good luck at your itsy-bitsy local credit union doing instant online transfers, making online bill payments to practically any company, importing your retirement plan, viewing your monthly budget, etc, etc, etc. I like Bank of America because I never have to go to Bank of America.


    1. instant online transfers - CHECK
    2. online bill payments - CHECK(electronic to bigger businesses, but a paper check to anybody you want)
    3. monthly online budget - CHECK
    4. retirement plan - CHECK

      And -- as stated above -- I almost never pay an ATM fee, and if I do it's because of the other bank, not mine.

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    Nov 03, 2011 2:09 PM GMT
    I just looked at the credit unions site. The ATMS I can use are located in a few 7-11's around my area. The closest branch is about 5 miles away. The one near my office is in a building with crappy parking.

    My bofa is literally next to my house and I can walk there in about a minute. To me, its just not worth changing to put up with that kind of inconvenience.
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    Nov 03, 2011 2:13 PM GMT
    njmeanwhile said
    endo saidSo I could switch to a credit union because Bank of America was going to charge me an additional $5 month, but then I get hit with $2 fees every time I use a non-Credit Union ATM? No thank you.

    Also, BofA may be an evil corporation, but their website is fantastic. Good luck at your itsy-bitsy local credit union doing instant online transfers, making online bill payments to practically any company, importing your retirement plan, viewing your monthly budget, etc, etc, etc. I like Bank of America because I never have to go to Bank of America.


    1. instant online transfers - CHECK
    2. online bill payments - CHECK(electronic to bigger businesses, but a paper check to anybody you want)
    3. monthly online budget - CHECK
    4. retirement plan - CHECK

      And -- as stated above -- I almost never pay an ATM fee, and if I do it's because of the other bank, not mine.



    You must go to a magical credit union because the one I had an auto loan at was a pain in my arse. And their website that Bubba T. Smith managed for them outta his mother's basement when he wasn't playing WoW was shit.
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    Nov 03, 2011 2:14 PM GMT
    Shawnathan said
    endo saidSo I could switch to a credit union because Bank of America was going to charge me an additional $5 month, but then I get hit with $2 fees every time I use a non-Credit Union ATM? No thank you.

    Also, BofA may be an evil corporation, but their website is fantastic. Good luck at your itsy-bitsy local credit union doing instant online transfers, making online bill payments to practically any company, importing your retirement plan, viewing your monthly budget, etc, etc, etc. I like Bank of America because I never have to go to Bank of America.

    If you use a non-BofA ATM you don't get charged?
    Not all credit unions are the same.


    Why would I ever use a non BofA ATM? There's always one nearby.
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    Nov 03, 2011 2:17 PM GMT
    Shawnathan said
    endo saidSo I could switch to a credit union because Bank of America was going to charge me an additional $5 month, but then I get hit with $2 fees every time I use a non-Credit Union ATM? No thank you.

    Also, BofA may be an evil corporation, but their website is fantastic. Good luck at your itsy-bitsy local credit union doing instant online transfers, making online bill payments to practically any company, importing your retirement plan, viewing your monthly budget, etc, etc, etc. I like Bank of America because I never have to go to Bank of America.

    If you use a non-BofA ATM you don't get charged?
    Not all credit unions are the same.


    You never have too. They are everywhere. And if I am someplace I dont know, they have an app to find the closest one.
  • djzilla

    Posts: 138

    Nov 03, 2011 2:28 PM GMT
    my credit union pays me back any ATM fees I receive when I take money out from any ATM. Some banks *coughWellsFargocough* charge you an additional fee to take money out of your account if you use a non-Wells Fargo atm. It's your money. You shouldn't have to pay a fee to the bank's atm and then your bank taking additional money to take cash out of your account..
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    Nov 03, 2011 2:29 PM GMT
    Dallasfan824 saidim sticking with BofA for now. I dont want to pay fees every time I need an ATM. And the credit union here has shitty parking and crappy customer service.


    I just buy a pack of gum and get cash back at almost any grocery.
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    Nov 03, 2011 2:34 PM GMT
    endo said
    njmeanwhile said
    endo saidSo I could switch to a credit union because Bank of America was going to charge me an additional $5 month, but then I get hit with $2 fees every time I use a non-Credit Union ATM? No thank you.

    Also, BofA may be an evil corporation, but their website is fantastic. Good luck at your itsy-bitsy local credit union doing instant online transfers, making online bill payments to practically any company, importing your retirement plan, viewing your monthly budget, etc, etc, etc. I like Bank of America because I never have to go to Bank of America.


    1. instant online transfers - CHECK
    2. online bill payments - CHECK(electronic to bigger businesses, but a paper check to anybody you want)
    3. monthly online budget - CHECK
    4. retirement plan - CHECK

      And -- as stated above -- I almost never pay an ATM fee, and if I do it's because of the other bank, not mine.



    You must go to a magical credit union because the one I had an auto loan at was a pain in my arse. And their website that Bubba T. Smith managed for them outta his mother's basement when he wasn't playing WoW was shit.


    I would suggest you shop around a bit then. Mine has been around since the 'thirties, has 137k members, 21 branches and nearly $2b in assets. They keep adding new features and services and so far none of them has cost an additional fee.
  • jim_sf

    Posts: 2094

    Nov 03, 2011 3:12 PM GMT
    Rodcet said
    Dallasfan824 saidim sticking with BofA for now. I dont want to pay fees every time I need an ATM. And the credit union here has shitty parking and crappy customer service.


    I just buy a pack of gum and get cash back at almost any grocery.


    This. Cash AND fresh breath, without obnoxious ATM fees.
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    Nov 03, 2011 3:18 PM GMT
    I have always dealt with either credit unions or smaller locally owned and operated banks. when you walk in the door you are known and not just some numbers when and if you need a short term loan. You will not get that from the large banks.
  • Bigolbear

    Posts: 528

    Nov 03, 2011 3:21 PM GMT
    Dallasfan824 said
    Shawnathan said
    endo saidSo I could switch to a credit union because Bank of America was going to charge me an additional $5 month, but then I get hit with $2 fees every time I use a non-Credit Union ATM? No thank you.

    Also, BofA may be an evil corporation, but their website is fantastic. Good luck at your itsy-bitsy local credit union doing instant online transfers, making online bill payments to practically any company, importing your retirement plan, viewing your monthly budget, etc, etc, etc. I like Bank of America because I never have to go to Bank of America.

    If you use a non-BofA ATM you don't get charged?
    Not all credit unions are the same.


    You never have too. They are everywhere. And if I am someplace I dont know, they have an app to find the closest one.


    My credit union also has a phone app to find the closest free ATM. Also, if I use an out of network ATM they refund the fee. I haven't had to pay and ATM fee in ages.