Stunning Number: Big Banks set to lose 70,000 accounts today

I just did a Google News search for the phrase:

"the banks said they're going to be charging more fees"

--- and didn't get any results.

(Not sure if "the banks" is AP-style ... LOL.
)

reply to post by AtticusRye


I am not he only one to hear it.
Watch this video from the official ABC youtube page. I assure you it's safe.

If you watch that to completion, you will know that you are wrong.
I don't have to say anything more after this.

Originally posted by GogoVicMorrow
reply to post by AtticusRye

 

I am not he only one to hear it.
Watch this video from the official ABC youtube page. I assure you it's safe.

If you watch that to completion, you will know that you are wrong.
I don't have to say anything more after this.

edit on 6-11-2011 by GogoVicMorrow because: (no reason given)

Post the timecode where it says:

"the banks said they're going to be charging more fees because of so many withdrawals on Transfer Day"

-- if an ABC news reporter actually said that I'd say they are in serious need of some remedial English.

reply to post by AtticusRye

So, as I thought, it doesn't say "so many people have closed their accounts that the banks have announced they will be charging more fees" [sic] as my dear Gogo said. No wonder he wouldn't post a text link.

actually, he did post a link and now i'm wondering ... do you ever follow and read links as you are instructed ?

since you obviously didn't bother with gogos ... here, i'll help ...

ABC
And of course, ABC notes, the banks say that they're going to have to recoup the losses from the customers who have left--with more fees.

while it's true it isn't a quote from any individual bank, it is Sunday in the US, so no one truly knows the result of Transfer day or which banks may be impacted now do they?

Originally posted by GogoVicMorrow
reply to post by AtticusRye

 

Watch the video. It says it. You can't just claim the fact doesn't exist because you choose not to expose yourself to it. Everyone here knows that it says it because they don't care to watch the video. So either you are trolling or you are wrong. Pick one because those are the only options.

I'd just stop feeding the troll if I were you.

Pedantic nitpicking is their stock in trade.

Or as my father used to say: "Never try to teach a pig to sing. It wastes your time and annoys the pig"

Originally posted by Honor93
reply to post by AtticusRye

 

So, as I thought, it doesn't say "so many people have closed their accounts that the banks have announced they will be charging more fees" [sic] as my dear Gogo said. No wonder he wouldn't post a text link.

actually, he did post a link and now i'm wondering ... do you ever follow and read links as you are instructed ?

since you obviously didn't bother with gogos ... here, i'll help ...

ABC
And of course, ABC notes, the banks say that they're going to have to recoup the losses from the customers who have left--with more fees.

while it's true it isn't a quote from any individual bank, it is Sunday in the US, so no one truly knows the result of Transfer day or which banks may be impacted now do they?

Again, this is frustrating that we have to go through an online course in critical thinking, however, someone post on a message board or wiki-news forum like AlterNet does not equal an ABC news report.

I am looking for ABC News saying "so many people have closed their accounts that the banks have announced they will be charging more fees" [sic].

I have asked 13 times now and no one has been able to show me where ABC News says that. Not a poster on ATS. Not a poster on AlterNet. ABC News. That's the claim that was made, that's the claim I'm pursuing.

reply to post by AtticusRye


From 1:53 on. He says, and I quote, "But the big banks are saying no matter what happens they'll have to recoup that revenue, meaning a future with more fees and probably some more upset customers"

So, please, stop now. You are wrong, and I really am sorry because I can tell this obviously meant a lot to you.

Originally posted by GogoVicMorrow
reply to post by AtticusRye

 

From 1:53 on. He says, and I quote, "But the big banks are saying no matter what happens they'll have to recoup that revenue, meaning a future with more fees and probably some more upset customers"

Quote was in reference to the trend of movement to credit unions over the last several years. Not Bank Transfer Day. Which is what you referenced. Which is what this thread is about.

I really hope things go better for you soon. You seem like you're at wits end.

reply to post by AtticusRye


Bank Transfer Day is the closing bell to a month long call to close bank accounts and move to credit union.
Later guy.

P.S. "so many people have closed their accounts that the banks have announced they will be charging more fees" is pretty much a paraphrase of what was actually said. If you wanted to know if it was due to the actual day of bank transfer day or if it was just due to the month long call made by Bank Transfer Day group you should have clarified in the above quote.

Originally posted by AtticusRye

Originally posted by Honor93
reply to post by AtticusRye

 

So, as I thought, it doesn't say "so many people have closed their accounts that the banks have announced they will be charging more fees" [sic] as my dear Gogo said. No wonder he wouldn't post a text link.

actually, he did post a link and now i'm wondering ... do you ever follow and read links as you are instructed ?

since you obviously didn't bother with gogos ... here, i'll help ...

ABC
And of course, ABC notes, the banks say that they're going to have to recoup the losses from the customers who have left--with more fees.

while it's true it isn't a quote from any individual bank, it is Sunday in the US, so no one truly knows the result of Transfer day or which banks may be impacted now do they?

Again, this is frustrating that we have to go through an online course in critical thinking, however, someone post on a message board or wiki-news forum like AlterNet does not equal an ABC news report.

I am looking for ABC News saying "so many people have closed their accounts that the banks have announced they will be charging more fees" [sic].

I have asked 13 times now and no one has been able to show me where ABC News says that. Not a poster on ATS. Not a poster on AlterNet. ABC News. That's the claim that was made, that's the claim I'm pursuing.

well, i look at it this way ... it is a general comment not a quote. no one said it is a fact, it is rather, an opinion. they can be right, they can be wrong but it doesn't change the simple fact that's it's merely an opinion.

i cannot view the video hence i went to the text source to follow the lead provided. the source reporting is really of no consequence especially since it is an opinion.

i'm not sure what it is you're after by nitpicking like you are, but i do hope you find it
personally, i think tomorrow will bring an enlightened outlook for many.

online course in critical thinking ???
they have those ?? you should enroll ... it might help.
the quote i posted and read states "NBC notes" and that is good enough for me, especially on a Sunday

tomorrow may be a different story but it isn't tomorrow, today
save those "critical thinking" skills for the back-lash cause it's gonna get messy all around.

Originally posted by minikin84
I haven't read all of the replies yet, but according to ABC News 1 million american consumers moved their money out of big banks. That's a bit more than 70k or 650k.

source:

It would be nice to see those big banks broken up.

Originally posted by GogoVicMorrow
post removed by staff

you are welcome but i haven't seen the video, i read and quoted the story ... sorry the "source" is less than acceptable but it's good enough for an opinion, IMHO.

yeah, they can be annoying but ya know i've come to realize, it's a good opportunity to teach those willing to learn. like it or not, i blame the "teachers" for all of this and i don't mean just the paid ones, either. But, that's another topic for another thread. In the meantime, i'll explain it and talk about it some more cause i'm pretty sure some are getting interested in how they can take control of their own destiny.

those really interested should look into the "shift" that took place in the 80s and the 60s and the 40s ... remarkably, each new generation wakes up and makes an effort but it usually falls short of the goal because the beast remains (not surprising) ... question this time around is ... are we united or divided in our efforts ?

Originally posted by Honor93

Originally posted by GogoVicMorrow
post removed by staff

you are welcome but i haven't seen the video, i read and quoted the story ... sorry the "source" is less than acceptable but it's good enough for an opinion, IMHO.

sure it's good enough for an opinion

Gogo presented his opinion as a fact.

That was the source of the disagreement.

And he lost.

reply to post by Honor93


The exact quote from the ABC news reporter in the video is: "But the big banks are saying no matter what happens they'll have to recoup that revenue, meaning a future with more fees and probably some more upset customers"

I'm sure he can't just make up these claims. Even if I don't have a source, I'm sure even ARye, will agree common sense tells us that the result will be more fee's from these banks.

Originally posted by GogoVicMorrow
reply to post by Honor93

 

The exact quote from the ABC news reporter in the video is: "But the big banks are saying no matter what happens they'll have to recoup that revenue, meaning a future with more fees and probably some more upset customers"

I'm sure he can't just make up these claims. Even if I don't have a source, I'm sure even ARye, will agree common sense tells us that the result will be more fee's from these banks.

i'll take your word for that but it really doesn't matter to me, i read what i read.
not saying i believe everything i read, it's just in this case, i happen to agree.
i guess we'll see soon, won't we?

@ AtticusRye ... thanks for clarifying your position (although it's no longer there). had you stated that earlier, i would have stayed out of it.
however, i do find arguing points in any msm news story an exercise in futility as they are always lacking facts that comprise the whole story.

it would not surprise me in the least if the 1 million reported turns out to be a horrible under-statement.
matter of fact, i hope it is ... this has been tried before, it is not new but this time the volume is new and compounded by the shrinking corporate contributions, that will make a difference.
however, this cannot be the only effort put forward, it will not change anything in and of itself, but it will weaken the beast not destroy it and the back-lash will likely be brutal ... kinda like the new car scams tend to be ... temptation galore.

Originally posted by Ferris.Bueller.II

Originally posted by Numb2itall
Hmmmm.
Just out of curiosity... what's gonna happen when all the credit unions start to raise their fees due to an overload of processing so many new accounts?
Is everyone going to keep their cash hidden at home?
Then what?
Home robberies go up?

They won't unless their business practices change. A majority of the day to day operating expenses, like processing account activity, comes out of the interest money they make on loans and such. Any left over profit for the year gets disbursed to the account holder at the end of the year. If you really think a credit union will need to raise fees because of new customers, then you should definitely stick with one of the national commercial banks that charges you a fee for even walking through their doors.

Thank you!
This is why I asked. Didn't know that about the CU's.
I certainly hope they don't change business practices but if what you say is true, why would they?
I was switching anyway but it was that one little thought they kept me from rushing out to do it.
BOA has never hit me with a fee though (at least to my knowledge)
Restrictions yes... like keeping a certain amount in my account or I get a fee but so does my CU. this is why I thought they would do the same down the line.