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Personal Finance Round-Up: The Great Bank Exodus

By Money Crashers

bank atm lineLately, the nation has been up in arms about the big banks, the same ones we bailed out with our tax dollars, and which are now charging excessive fees for using debit cards and gaining access to our own money.

While one of the bigger banks reneged on its new policy to charge a debit card fee as described in Bank of America Changes its Mind: No Debit Card Fee by Free From Broke, the damage has already been done and people have lost even more faith in big banks. As a result, November 5th was organized as Bank Transfer Day and masses of people moved all their money from big banks to local banks and credit unions. Were you a part of Bank Transfer Day?

Check out these other great posts from around the web:

Local Banks Prepare for Saturday’s Bank Transfer Day Amid Public Animus [RVA News]
Here are the details behind what became Bank Transfer Day and what it meant for local banks which are preparing for big sign-ups in the future.

Banks vs. Credit Unions: What’s the Difference? [2 Minute Finance]
With people upset with big banks and jumping ship to local banks and credit unions, it’s a smart idea to actually know the difference before making the switch. What does a big bank offer versus a credit union, and why should you choose one over the other?

5 Small Business Problems and How to Solve Them [Wealth Pilgrim]
Big or small, businesses all have struggles to overcome. Some overcome them by milking customers for all they can get – which is not a good idea. Here are some legitimate ways to better your business.

100 Frugal Gifts You Can Give This Christmas [Bible Money Matters]
Giving during a recession is tough for many of us. Times are hard and money is tight. Check out these great gift ideas that won’t cost you a fortune.

The Worst Part About Being Robbed [MSN Money]
Banks aren’t the only ones out to rob you. Here is a story told from experience with lessons on how to protect yourself from robbery.

What is a Layaway Plan? The Advantages and Disadvantages [Moolanomy]
Layaway is making a comeback this holiday season. Learn about layaway and how you can use it to save money this Christmas, or why you should avoid it.

6 Reasons Why You Can’t Lose Weight [Huffington Post]
As Thanksgiving and Christmas roll in this year, many people will start thinking about their weight as all the goodies available make weight gain inevitable. Here are some important things to understand about weight gain and how to prevent it.

Amazon Launches Lending Library for Kindle Owners [PCMag]
As the world transitions traditions into the digital age, businesses are tapping into it for a better model for both profit and consumer needs.

Groupon Shares Surge but Concerns Linger [Reuters]
Group deals sites are all the rage but be weary of jumping into the coming IPOs; the bubble may be bursting soon.

(photo credit: Shutterstock)

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  • http://www.mastertheartofsaving.com Jen @ Master the Art of Saving

    These banks have been driving me crazy. I just did a post the other day about the new fees Bank of America are charging, it’s just like US Bank a few month back. Yuck! Why should we have to pay them to let them borrow our money?

  • http://www.mastertheartofsaving.com Jen @ Master the Art of Saving

    These banks have been driving me crazy. I just did a post the other day about the new fees Bank of America are charging, it’s just like US Bank a few month back. Yuck! Why should we have to pay them to let them borrow our money?

  • http://www.mastertheartofsaving.com Jen @ Master the Art of Saving

    These banks have been driving me crazy. I just did a post the other day about the new fees Bank of America are charging, it’s just like US Bank a few month back. Yuck! Why should we have to pay them to let them borrow our money?

  • Donna Freedman

    Thanks for the mention.

  • Pinyo

    Thank you for including us in your round up!

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