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View Diary: House Democrats ask Justice Department to investigate banks over debit card fees (71 comments)

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  •  How hard is it (0+ / 0-)

    to get your money out of a bank?

    27, white male, TX-26 (current), TN-07 (originally), liberal-leaning independent

    by TDDVandy on Thu Oct 13, 2011 at 02:11:31 PM PDT

    •  Its very hard to switch banks (4+ / 0-)
      Recommended by:
      jan4insight, burlydee, bwren, tb mare

      If you have your paycheck direct deposited, and a couple bills auto-paid (i.e. mortgage) and other outstanding checks here and there -

      Some people do not have the money to float two bank accounts simultaneously.

      The new bill would basically require banks to do a courtesy transfer for a period (I think 60 days) to your chosen new bank (hopefully a credit union!), to transfer all debts to new institution as well and to not charge fees for such -

      Now.... if there was really competition among banks for your dollar, they would have already done this service for consumers - but they'd rather make money on charging you fees/bouncing your checks/holding you hostage.

      The object of persecution is persecution. The object of torture is torture. The object of power is power. --George Orwell

      by jgkojak on Thu Oct 13, 2011 at 02:17:44 PM PDT

      [ Parent ]

      •  My situation right now. (2+ / 0-)
        Recommended by:
        Mayfly, tb mare
        Some people do not have the money to float two bank accounts simultaneously.

        But I have some checks coming in over the next week or so from my little business; those will be the seed $$ for the new credit union account. Once they're deposited I'll have the leeway to switch over my regular paycheck deposit and savings. Enough will be left in checking to cover any outstanding checks and the bloody fees that I know they'll tack on. In a month I'll be free.

        I came for the politics and stayed for the science.

        by bwren on Thu Oct 13, 2011 at 02:59:31 PM PDT

        [ Parent ]

      •  Interesting (2+ / 0-)
        Recommended by:
        Mayfly, tb mare

        I have a paycheck direct deposited but no bills auto-paid (and never will.)  I assume changing the direct deposit is on your employer, though, and not the bank.

        27, white male, TX-26 (current), TN-07 (originally), liberal-leaning independent

        by TDDVandy on Thu Oct 13, 2011 at 03:11:24 PM PDT

        [ Parent ]

        •  Nothing to stop you taking small amounts (1+ / 0-)
          Recommended by:
          Mayfly

          to start so you can open a new credit union account - then slowly move auto-pay accounts as things "settle in" and you track where you are at?

          It's a hassle, but if we can't make it to a protest - it is the very least we can do... along with supporting the protests with whatever you are able to do?

          Of course, it should be a professional business courtesy - but that apparently works ONLY for the 1%.

          "Those old Wall Street boys are putting up an awful fight
          to keep the government from putting a cop on their corner."
          - Will Rogers
    •  Normally, I'd say not very, but then I've seen (1+ / 0-)
      Recommended by:
      Mayfly

      videos on this site where BofA has security and even local police barring entry into their banks from people who have their account documents and they say they're there to close their accounts.  For this reason, I'm saying it SHOULD be easy, but it's not always.

      •  I think it would be harder to do it as a protester (0+ / 0-)

        than to walk in to the bank on your own with no crowd around.  Make up a story about how you are moving to Australia and will need to liquidate everything (if you say you are moving to another state they can say "we have locations there").  Then AFTER you have severed all ties, have all of your IDs back, and have a cashiers' check in your hands and are ready to leave - THEN tell them the real reason you are leaving the bank.

      •  This is why (1+ / 0-)
        Recommended by:
        Mayfly

        I have never banked with the big banks.

        Though it seems to me that almost no one I know who does opened an account with them.  Usually they opened an account with a smaller bank that was bought out.

        27, white male, TX-26 (current), TN-07 (originally), liberal-leaning independent

        by TDDVandy on Thu Oct 13, 2011 at 03:10:31 PM PDT

        [ Parent ]

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