By Rita R. Robison
Tomorrow is Bank Transfer Day.
Advocates of the movement say new fees on debit cards, charged by big banks because new federal rules put limits on the fees banks can charge merchants when consumers use debit cards, are outrageous because banks are making enough money and don’t need to up their fees to rake in even more.
"I started this because I felt like many of you do,” Kristen Christian, the organizer of Bank Transfer Day, said. “I was tired – tired of the fee increases, tired of not being able to access my money when I need to, tired of them using what little money I have to oppress my brothers and sisters. So I stood up.”
A not-for-profit credit union is a good choice for your new financial institution. I’ve belonged to two for years, and I appreciate using these community institutions.
It may not be easy to close your account with a big bank.
See this article, “Bank Transfer Day: A Guide to Closing Your Account,” for the steps you need to take so that your transfer goes smoothly.
