Wall Streets Protest new Avatar Bank Transfer Day makes people abandon their bank accounts from the biggie US Banks.
On this day Bank Transfer Day, People have come forward to speak their inner voice saying, Enough is Enough!!! More than 70,000 people have cancelled their bank accounts from the America’s most prominent Wall street dominant banks such as Bank of America, Citibank, Wells Fargo, etc.,.and have deposited their savings to smaller Credit Union and community banks.
Steven Henderson, 45, an airline pilot who lives in Capitola, is tired of Wall Street-owned banks. “We’ve been ripped off, and we’re still being ripped off,” he said. “It’s not just a particular demographic. It’s everybody.”
Henderson said his girlfriend already has moved her money from Wells Fargo to Bay Federal Credit Union. He plans to bring his kids, ages 12 and 13, to Wells Fargo today so they can close their accounts.
“One thing that’s been demonstrated is money talks,” he said.
The movement which started on Facebook on the name Bank Transfer day currently has 47,430 likes to its name. The movement has already helped beat back Bank of America’s plan to start charging a $5 debit card fee.
Wow! Man people are finally waking up against oppression which is a severe disease and more damageable to society than any other!
According to CSmonitor.com, “It’s too little, too late,” said Kristen Christian, the 27-year-old Los Angeles small business owner who started “Bank Transfer Day.” She already opened accounts at two credit unions in preparation for cutting ties with Bank of America this weekend.
“Consumers are waking up and seeing that they have options,” she said.
“I’m pretty confident they’re going to find some way to get that extra money,” said Blakemore, a 28-year-old who works for a nonprofit fundraiser in New York City. “I’ll just have to see if it offends my sensibility enough to close the account.”
Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co. are keeping mum on whether they’ve seen an uptick in account closures in recent weeks. But credit unions and small community banks have been basking in the spotlight and issuing press releases highlighting what they say are superior interest rates and more intimate service, along with tips on how consumers can transfer accounts. They haven’t been shy about the surge in new business they’re enjoying either.
Navy Federal Credit Union, the largest credit union in the country, says new account openings in September and October were up 38 percent from a year ago. National Capital Bank, a two-branch community bank in Washington, D.C., says the vast majority of its new account openings in recent weeks have been by fed up Bank of America customers.
“The debit fee was definitely a driver,” said Noah Wilcox, president of Grand Rapids State Bank in Minnesota, which is also enjoying a lift in account openings.
I reckon, people should turn away from the Banks charging Interest for the loans offered. No matter they are small or big, they suck your blood!