Sunday, November 6, 2011

Bank Transfer Day

Bank Transfer Day, Absorb Wall Street and also Bank Transfer Day are not formally affiliated, however the 2 actions haul potency and efficacy through similar sentiments: customers fed up with relying on  banking institutions which they reason make the most of them done loaning practices and costs. Though the push for that bank transfer motion started along with Kristen Christian, a 27-year-old Los Angeles-based entrepreneur, Occupy Wall Street protesters have become some of the most visible supporters of Bank Transfer Day, allowing them to thrust the actual conversation encircling Saturday's deadline. 

Some news reports have people being asked to switch to community banks or credit unions.
Here’s what a few banks have to say:

 • “We’re seeing an increase in account openings of 25 percent year-over-year. It’s incredible,” said Eve Callahan, senior vice president of corporate communications at Umpqua Bank. “We’ve seen a lot of traffic over the past few weeks. People are recognizing that a Wall Street bank is a very different entity than a Main Street bank. That’s something that people understand.”

 • “We understand that people are looking for more from their fianancial institutions,” said Lara Underhill, spokeswoman for Wells Fargo. “If a customer chooses to close an account, we will try to address any of their concerns. We understand that while we can’t control what people do to express their views, what we can do is to continue to provide jobs and services to our customers and our communities.”

 • Steve Maxwell, President of KeyBank’s South Puget Sound District, said, “As bank customers consider whether to move their accounts to a credit union or small community bank, we recommend that they consider how well all their financial needs will be met. KeyBank offers the best of both worlds – financial strength, a local community presence, and a broad range of products and services that smaller banks can’t offer, delivered locally. As for imposing new debit card fees, Key is going in a different direction.”