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Thousands Pledge To Close Big Bank Checking Accounts On ‘Bank Transfer Day’

Some banks still offer free checking.If you haven’t already, mark Nov. 5 in your calendar. Some 37,000 savers already have.

That’s the number of people as of this weekend who have RSVP’d on Facebook for “Bank Transfer Day,” a protest created by Los Angeles art gallery owner Kristen Christian.

On Nov. 5, she’ll close out her account at Bank of America and move her money to a credit union.

She’s fed up with the fees and poor customer service she’s received. She’s closing her account in protest and wants others to join.

This is just the type of response we hoped for after Bank of America announced it would levy a fee just to use its debit card.

Our sister website, Interest.com, has an interview with Christian. Go check the whole Q&A.

Here’s an excerpt:

Q: What’s the dumbest bank fee that Bank of America ever levied on your account (personal or business)?

A: The Bank of America website was down, so I called to speak to a phone representative. I was charged $2 for calling in because I “could’ve done this transaction online.”

The policy in place was ignorant to the fact that I was unable to complete my transaction online because of a failure on the company’s part.

During a second incident, I was attempting to transfer funds from my personal to business checking using the website. The funds disappeared from my personal account (an out-going transfer was acknowledged), but did not register in my business account.

I spent four hours speaking to representatives before the issue was resolved.

We’re guessing these aren’t shocking complaints for anyone who has frequented a big bank.

If increased account fees have left you looking for a bank or credit union that offers free checking, you can start with one of these four nationally available deals.

Also, be sure to check your local credit union or community bank.

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Comments (6)
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6 Existing Comments

  1. SeniorSaver said:
    on October 15th at 07:27 pm

    There’s no question in my mind that BofA is the most dysfunctional of the whole lot of big, dysfunctional banks. I’d close my accounts there on November 5, except I’ve already closed them all. I’ve also closed all my accounts with Chase and Wells Fargo. Citi goes down on November 14, when my last CD there matures. What was our Governemnt thinking when it bailed these banks out in 2008, rather than breaking them up and putting the pieces under new management? And the fact that zero percent money isn’t enough for them–that they need extra fees on top of that–is just another kick in the teeth for customers and taxpayers.

  2. Bill said:
    on October 16th at 08:01 am

    Where did you get the idea our government thinks? They are so busy stuffing corporate bribes into their pockets and plundering the few national assets that are left, there is little time to do anything else but take an expensive junket at our expense or start a new war somewhere.

  3. Xavier said:
    on October 17th at 07:54 am

    It doesn’t matter what we do .There is an urgent need to regulate this kind of banking behavior.But whenever congress try to pass any bill regarding this issues the banking lobby forces congressmen to moderate their language and what we get is a toothless law.

  4. Earl said:
    on October 17th at 10:19 pm

    The big bank’s credo: screw every cent you can out of your customers and smile at them while you are doing it.

  5. Stormy said:
    on October 27th at 10:31 am

    Today my mother, boyfriend and I will be closing our Chase and Citi bank accounts… This is a great feeling to have and to know that we as a whole will actually affect those greedy bastards!

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    on May 17th at 03:09 pm

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