Estimated $4.5 billion was moved on bank transfer day

[Ns1]

Just because you have to run down to the ATM and get $400 to stop Aarons-rent-to-own from repossessing your TV does not mean everyone has to.

I'm only responding to your question. My local hookers and blow dealer doesn't accept paypal yet.

People still use ATMs?

 

[Kadarin]

I find it amazing that some people here are taking the side of large financial institutions. Do you work for them (and thus are paid to astroturf this shit)? Do you have hundreds of millions of dollars deposited with them? Do you honestly believe that banks have a right to profit (by shafting you for fees), as the BofA CEO has publicly stated?

 

[dank69]

Watch in 6 months deposits trickle back as those people who moved to CUs experience the lack of ATMs and service.

People still use ATMs?

Why not just get cash back on a purchase? I have not used an atm machine in years,, maybe 3 or 4 years.

This. ATMs lol.

 

[SammyJr]

Watch in 6 months deposits trickle back as those people who moved to CUs experience the lack of ATMs and service.

Ever heard of getting cash back when you buy something with a debit card or **gasp** just using a debit card? I never have need of an ATM.

 

[dank69]

hey Texas - when you choose 'cash back' with your debit card - you get charged a fee by your bank - congrats on not using an atm for 3 or 4 years.

Lol wrong.

 

[NeoV]

it's not wrong - maybe your bank doesn't charge you a fee - or perhaps you don't even know they are - but many banks do -and these fees, among many others, were the target of recent Fed Reserve Board decision to cap them

http://www.usatoday.com/money/perfi/columnist/block/2011-07-04-your-money-debit-card-fees_n.htm

JS - the ignorance and arrogance in this thread starts with you.


So people that need to withdraw 400 from an ATM are renting their TV's from Aaron's? Nice, that's perhaps the most ignorant post in this thread.

 

[Dulanic]

I find it amazing that some people here are taking the side of large financial institutions. Do you work for them (and thus are paid to astroturf this shit)? Do you have hundreds of millions of dollars deposited with them? Do you honestly believe that banks have a right to profit (by shafting you for fees), as the BofA CEO has publicly stated?

I'm not going to bat for anyone. I am simply saying the big bank offers me the highest rewards, best mobile app and I don't pay any fees. Why the hell would I swap if I would be the one losing out?

I am going to bat for my wallet and I am best off with a big bank. The only exception is my savings goes to a online bank.

 

[Darwin333]

I find the whole idea behind bank transfer day stupid. I will keep my money where I find the best benefit of doing so. Whether that is a big bank or a little bank I will do what get's me the larger payback.

For the most part I use 2 banks 1 big 1 not so big. To limit yourself based on stupid shit like this is well...stupid. Use what works for you and what gives you the most. The bank is there for you, not vice versa. So pick what is there for you in the way you want.

The only difference between rape and sex is consent. You obviously consent, I do not.

 

[Darwin333]

Sorry, but how many of these silly gestures have their been? Ultimately, the will to do something meaningful comes from finding and electing people who will reconstitute Glass Steagall, require certain leverage ratios and break up the banks. Nothing else is needed in the banking sector than those 3 simple things. All of this other BS about the Fed and everything else is just that, BS. We don't need a journey or an odyssey, we need simple but bold steps to restore the financial markets.

Find me that guy and I'll vote for him. Until then this is an empty gesture and one that's rather pathetic considering the real challenges facing us.

I actually agree with your post but as I said in my previous post, the only difference between rape and sex is consent. I am truly at a loss for words as to why so many people still purposely do business with most of the big banks but I am always glad to see a few more people remove their consent.

As far as what you illustrated needs to be done, I have lost faith that any of that will be done until the wheels really fall of. Glass Steagall was 17 friggen pages of legislation and they haven't been able to reinstate that after the banks brought us to the "brink of Armageddon", most of which wouldn't have been possible if Glass Steagall had not been repealed in the first place.

If they can't do the really simple and obvious thing that has basically already been done for them once I have a hard time believing they will do the harder things like break up the big banks.

 

[Darwin333]

I'm not going to bat for anyone. I am simply saying the big bank offers me the highest rewards, best mobile app and I don't pay any fees. Why the hell would I swap if I would be the one losing out?

I am going to bat for my wallet and I am best off with a big bank. The only exception is my savings goes to a online bank.

Because they raped you and your countrymen AND your country (and probably your local county too)? Just for starters....

But hey, who cares about that crap when they have a sweet iphone app!

 

[Dulanic]

The only difference between rape and sex is consent. You obviously consent, I do not.

LOL your a moron. I earned over $1000 in rewards, I am pretty sure I am the one getting off here.

 

[Dulanic]

Because they raped you and your countrymen AND your country (and probably your local county too)? Just for starters....

But hey, who cares about that crap when they have a sweet iphone app!

The only people getting "raped" are idiots who don't do their research before signing up for something and can't balance a checkbook.

 

[Ns1]

Do you honestly believe that banks have a right to profit (by shafting you for fees), as the BofA CEO has publicly stated?

yes I believe for-profit companies have a right to earn a profit. what kind of question is this?

 

[Dulanic]

Because Washington raped you and your countrymen AND your country (and probably your local county too)? Just for starters....

Fixed

 

[zinfamous]

Just because you have to run down to the ATM and get $400 to stop Aarons-rent-to-own from repossessing your TV does not mean everyone has to.

No. I need $400 cash to buy weed.

but thanks for assuming I'm a deadbeat!

 

[KlokWyze]

The only people getting "raped" are idiots who don't do their research before signing up for something and can't balance a checkbook.

You just described 50% of bank "consumers". The people that get shafted with as many fees as possible. You know, process the biggest charges first in order to get as many over draft fees as possible?

I'm not saying financially irresponsible people are innocent, but the banks certainly are not for always taking advantage of people as much as possible, especially poor people. OWS and the recent Nov. 5th is really just about growing anger over the banks not being held accountable (in fact, rewarded) for destroying the economy, while everyone else picks up the bill.

 

[Ns1]

You just described 50% of bank "consumers". The people that get shafted with as many fees as possible. You know, process the biggest charges first in order to get as many over draft fees as possible?

are you saying that 50% of all bank consumers do not understand that you cannot spend more money than you have in the bank?

I agree that the fee structure is in place to screw the consumer, but I also think that it's the consumer's responsibility to not spend money they don't have.

 

[blackangst1]

are you saying that 50% of all bank consumers do not understand that you cannot spend more money than you have in the bank?

I agree that the fee structure is in place to screw the consumer, but I also think that it's the consumer's responsibility to not spend money they don't have.

This exactly.

 

[LegendKiller]

You're arguing semantics here.

They moved them to a portion of the bank which holds deposits, thereby putting the depositors' money and FDIC-insurance on the line for the derivatives in case the bank fails, a risk neither the depositor nor the FDIC agreed to. If that isn't fraud in your book, then it's no surprise the banks have been getting away with other fraud.

It doesn't put the FDIC "on the line" for the NOTIONAL of the derivatives and the limit of the FDIC's exposure is purely the deposit base. The NOTIONAL is just that, a notion that the derivative is derived from, not the actual exposure. The exposure is the differential between the benchmark and the agreed upon rate.

If you define that as fraud you must be one sue-happy bitch, because that is not fraud.

 

[Nebor]

The only difference between rape and sex is consent. You obviously consent, I do not.

I guess you don't enjoy sex.

 

[Lanyap]

Looks like the Republicans were off a little thinking only people working at Walmart would be moving their cash..

Let's see, Walmart has 1.4 million employees in the US. So if half of them pulled out their $7,000 bank savings that would be close.

 

[ultimatebob]

I moved about $5k from Wells Fargo to a community bank as well... Just a drop in the bucket, but every bit helps.

 

[Munky]

are you saying that 50% of all bank consumers do not understand that you cannot spend more money than you have in the bank?

I agree that the fee structure is in place to screw the consumer, but I also think that it's the consumer's responsibility to not spend money they don't have.

Apparently that is the case. Even our government does not understand that in the long term, you can not spend more money than you make.

 

[LegendKiller]

It working the system, its not illegal but its improper and deceptive and fraudulent. Its like what Al Gore does with cap and trade.

It's not "working the system". They could have just started to write contracts out of the BoA side and not ML side easily, in fact, they were already doing it. In fact, many banks do it. In fact, most banks write derivatives out of the depositories. In fact, the faux righteous indignation is ridiculous.

 

[bfdd]

are people really talking shit on atm's and 400 cash limit? really? well i guess not everyone uses cash at the bar.