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Reforms Needed To Keep Consumers From Being Trapped In Their Old Bank Accounts

It’s been nearly a year since the first Bank Transfer Day, when people around the country ditched fee-laden accounts in favor of more consumer-friendly institutions, and yet many bank customers still find roadblocks that keep them from easily jumping ship from one bank to another. [More]

Closed BofA Bank Account Mysteriously Reopened With 1 Penny Balance

Closed BofA Bank Account Mysteriously Reopened With 1 Penny Balance

Chris was one of the many in October who closed their bank accounts with Bank of America, and other similar big retail banks, in protest over planned fees for using their debit card. But last week she found it had been reopened for no apparent reason, with a 1 penny balance out of nowhere. [More]

Video: Occupy Portlanders Open Credit Union Accounts On Bank Transfer Day

Video: Occupy Portlanders Open Credit Union Accounts On Bank Transfer Day

Saturday was the fifth of November, and many remembered to take a stand and shut down their big retail bank accounts, transferring their cash to a new credit union account. Here’s a video out of Occupy Portland covering what happened on Bank Transfer Day. Interviewees talk about why they’re switching to a credit union, and how this is just the beginning. [More]

Here's An Idea: Credit Union Pays Members For Using Their Debit Cards

Here's An Idea: Credit Union Pays Members For Using Their Debit Cards

Instead of charging customers a $5 monthly fee for using their debit cards, one credit union is actually paying its members to use their debit cards. In a direct jab against the big banks, First Community Federal Credit Union is running a promotion that lets members earn up to $5 a month for swiping their debit card. [More]

Video Of People Closing Down Their Accounts At Big Banks

Video Of People Closing Down Their Accounts At Big Banks

Tomorrow is Bank Transfer Day. By this date, people all across America are shutting down their accounts at large, costly, name-brand banks and transferring their funds to new bank accounts at their local credit union or community bank. Here is an excellent video made in Portland that follows along with several different people as they close their bank accounts and give their reasons for doing so. One person wants to save money, another disagrees with the bank’s foreclosure practices, a third is mad about the bailouts, and the last is a union withdrawing its funds to show solidarity with holding Wall Street accountable. [More]

7 Easy Steps To Safely Switching To A New Bank

7 Easy Steps To Safely Switching To A New Bank

Given all the anger currently being directed toward a number of the bigger banks, it might be tempting to stroll into your local branch and walk out with all your money in a sack with a dollar sign on it. But if you want to switch your funds over to a new institution without running the risk of screwing up any automated payments of direct deposits, it will take a few steps. [More]

Survey: 30% Of Consumers Would Leave Bank Over Debit Card Fees

Survey: 30% Of Consumers Would Leave Bank Over Debit Card Fees

With financial institutions like SunTrust and Bank of America implementing fees for using debit cards to make purchases — and a number of other banks doing regional tests on similar fees — a new survey says that nearly one out of three American consumers would leave their bank if it introduced such a fee. [More]

Tell Us Your Tales Of Switching Banks

Tell Us Your Tales Of Switching Banks

November 5 may be Bank Transfer Day, but we know a lot of you have already been jumping from financial institution to financial institution since the Wachovias, WaMus and other banks went bust a few years ago. [More]

Someone Claiming To Be Bank Of America Staffer Threatens Man For Telling People To Switch To A Credit Union

Someone Claiming To Be Bank Of America Staffer Threatens Man For Telling People To Switch To A Credit Union

In advance of the upcoming Bank Transfer Day Consumerist reader Jeff and a friend decided to stand outside a San Diego branch of Bank of America to remind customers that they should consider a credit union. This didn’t go over well with a man claiming to be a BofA employee, who threatened to have Jeff’s credit union account cancelled if the protest continued. [More]