reply to post by JBA2848
Oh, come on. Give me a break. Taking your money from one "bank," however huge, and putting it in another one, however small, vulnerable, and not
subject to bailouts, doesn't do anything but make you feel good. The money is still in the SAME system albeit with different accounting. You still
get zilch for interest, no matter where you stash it. And if the bank fails, guess what? YOU get a bailout. that's right. NOBODY has EVER lost money
due to a bank failure. FDIC insures your deposits up to $500K for a couple. So don't whine over bailouts. You've got one, too, that you've never
had to use. Besides, nearly half of you don't pay federal taxes anyway. I call that a bailout. You're already on welfare and you "demand" more?
Get a job.
What you do get is a serious hassle.
Do you use "Bill Pay"? Well, better learn how to use a new system, get all those vendors lined up properly.
Do you use automatic deposit? Great. Cancel one and start the other one up.
Do you use "auto pay" for utility bills? OK. Cancel them all and start them all up again.
Do you have a debit card you use regularly? Guess what? New card.
Do you have credit cards with your "big" bank? SURELY you won't be keeping those at the "Big" bank, so good luck getting all new credit cards.
Watch your credit score go down. (Yeah, it sucks. Even applying for credit makes your score go down.)
So after doing all this, guess what? You're in (more or less) the exact same place.
Do you NOT use ANY of this because you're so careful not to get yourself enmeshed in "the system"?
If that's true, then you don't count. You are not a factor. If the government of Brunei did this, B of A might pay attention. If you do it, they
don't really care. It's not as if you're in the coveted 800+ credit score territory. You're not a desirable customer anyway. Did you know it costs
the bank $3.50 just to mail you a monthly statement? But you freak out at a $5.00 debit card fee. "Don't charge me, bro! I should get all this stuff
free!" Well, guess what? The bank doesn't run off rainbows and unicorns. Stuff costs money.
If you REALLY want to get out, close your accounts, and take the cash to buy gold. Then cross your fingers. Anything else and you are just fooling
Disclosure: My son works for a...a...credit union. Thanks for asking.