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Old 11-04-2011, 12:33 PM   #1 (permalink)
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Default National "Dump Your Bank" Day

I think something actually worth participating in finally precipitated out of the Occupy Wall Street protests...

Bank dumping day begins - Nov. 4, 2011

National "Dump Your Bank Day"? Pretty much solidifies the leverage against big banks that people have been searching for.

I know my bank doesn't charge fees yet, but they will, and I'm considering proactively divesting. Anyone else optimistic about this?
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Old 11-04-2011, 02:02 PM   #2 (permalink)
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I dumped my bank in '08. They still claim I owe them 800 dollars in overdraft fees. I honestly don't. Bank of America can eat my poop. That place is money hungry. They try to take advantage of everyone. They're not a people's bank, that's for sure. I'm glad I stopped banking. I don't even miss having one. Nothing changed, I just have all my cash in hand.
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Old 11-04-2011, 02:20 PM   #3 (permalink)
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^^^ erm, instead of just saying, "no I don't", you should get that resolved. Aside from that being a tremendous black cloud over your credit score, it could (well, likely will) prevent you from opening an account with any other bank/credit union. I don't know the specifics of how this would affect your ability to get loans.... but I can't imagine it would help at all.

Anyways, I don't see why this needs to be politically motivated. It's just good financial sense to work with a Credit Union.
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Old 11-04-2011, 03:29 PM   #4 (permalink)
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Quote:
Originally Posted by hip hop bunny hop View Post
^^^ erm, instead of just saying, "no I don't", you should get that resolved. Aside from that being a tremendous black cloud over your credit score, it could (well, likely will) prevent you from opening an account with any other bank/credit union. I don't know the specifics of how this would affect your ability to get loans.... but I can't imagine it would help at all.

Anyways, I don't see why this needs to be politically motivated. It's just good financial sense to work with a Credit Union.
I wanted to start with the second half here. I don't mind the black cloud. I'm assuming I have 0 credit and working under that. I've never thought about taking out a loan and I probably won't. I'm 24. It's not even on my radar. What is that, for buying a house, or a car, or starting a business? I don't see that happening. I've worked 7 years as a cashier at minimum wage, I'm used to having nothing and wanting nothing and doing nothing. I have no plans on opening up at a credit union, though I admit you're right that they're better than major banks. I do respect youropinion and acknowledge I might be acting rash but I assure you it made sense for me.
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Old 11-04-2011, 04:33 PM   #5 (permalink)
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I've always had access to a credit union so I don't use any banks. If I did I would dump them.
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Old 11-04-2011, 04:40 PM   #6 (permalink)
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My checking account is free and my savings account earns me interest.
So no.


Maybe the movement could be reorganized into "National make better banking choices day".
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Old 11-04-2011, 05:12 PM   #7 (permalink)
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It should be 'National Rob dumb white hippies because they're probably loaded today" day.
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Old 11-04-2011, 05:19 PM   #8 (permalink)
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You mean like what banks do?

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Old 11-04-2011, 05:22 PM   #9 (permalink)
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Without gaining interest in the bank, all that happens to the worth of the money in your mattress is decrease due to inflation. Plus, sounds like it could be riskier if f.ex your house burns down.
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Old 11-04-2011, 05:31 PM   #10 (permalink)
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Without gaining interest in the bank, all that happens to the worth of the money in your mattress is decrease due to inflation. Plus, sounds like it could be riskier if f.ex your house burns down.
You make it sound as if there are only two choices for where to keep your money: 1) a commercial bank and 2) under your mattress.
The point is we don't need banks to keep our money safe. We have other options that many aren't aware of (i.e. credit unions).

I know the majority of Americans probably don't care whether other Americans are "too stupid to read the fine print" but a lot of people apparently think that even the stupid and the stoned don't deserve to be robbed by bankers.
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