Bank transfer day...are you ready?

Ok, so November 5 is just around the corner. With BoA now dropping their debit fees, as are others, are you still moving your money? For those of you in the northeast, be aware of M&T bank. While they will not charge a fee if you use your card for 10 or more transactions per month, they do charge a fee per PIN transaction. So if you are at the grocery store and do cash back, you will get dinged .50. If you make a purchase and put your PIN number in, you get a .50 charge. Not as free as they claim it is.

I'm sure there are other banks out there that are doing similar. If you know of any, please post who they are and what their scam is.

This bank transfer day has been tried before in Europe and it flopped big time. If you really want to hurt the banks borrow a load of money and don't pay them a cent back.

Well, we'll be letting off lots of fireworks in England just to cheer you guys on Oh and in my neck of the woods we'll be burning lots of effigies too

Originally posted by michael1983l
This bank transfer day has been tried before in Europe and it flopped big time. If you really want to hurt the banks borrow a load of money and don't pay them a cent back.

Will that work?

I opened accounts at a local credit union 2 weeks ago. The first thing the associate asked us was "are you folks coming from Bank of America?"

I almost laughed out loud.

I won't be closing our BoA accounts just yet as my mortgage is with them. My new institution however has much better rates (over 2% less) so if I can get a new mortgage with them, I'll close BoA and tell em to kiss my ass

reply to post by haarvik


I have M&T and never ever use my card as as debit card because of that stupid fee or whatever they want to call it. I just use it as credit everywhere. One of these days I'll just open a new bank account at a local bank. I guess Nov 5 isn't a bad day to do it!

Reminds me of the lyrics of "Beautiful Day" by a local band called the Levellers.

What a beautiful day,
I'm the king of all time,
And nothing is impossible,
In my all powerful mind.

Was on the fifth of November,
When time it went back,
Some say that that's impossible,
But you and I, we never looked back,
And wasn't it incredible,
So beautiful and above all,
Just to see the fuse get lit this time,
To light a real bonfire for all time.

Don't wait until Nov. 5th - do it now! I think you'll see credit rates can be pretty good. Another way to avoid banks is to just stop using your credit card everywhere. Cash is king.

yup agree use cashhhhh

reply to post by Vandettas


It will, you will have to start throwing the 'strawman' at them. Freeman on the land / Sovereign citizen

I moved all my money from Bank of America to a local credit union on Monday. I didn't want to wait until Nov 7 when Bank of America goes insolvent and I lose all my money.

most credit unions only charge a fee if you use your card as debit. they want you to use it as credit so they charge like 5 dollars at navy federal credit union if you use it as debit

reply to post by drunkennoodle


Try Susquehanna Bank. They don't charge any fees.
Might be a branch in your town, depending on where you are.