November 5th, 2011 by Zachary Shahan
As I’ve just written, it’s Bank Transfer Day. Check out that post for more info on its birth and development, results leading up to the day, and a good “Move Your Money” video. Clearly, it’s high time the 99% stop supporting banks that rip them off, leave them broke and homeless, and then give their CEOs record bonuses.
But if you’ve decided to close your account today and open a credit union account, whether by heading to the bank or trying to do so online, it seems you might run into a few problems. Luckily, there’s nearly always (if not always) a way around a problem.
Here are a few problems I’ve seen people mention, and ways around them:
- Chase bank disabled online bank transfers today. For some “schedule maintenance” — scheduled maintenance, I bet! Well, the solution to that is pretty obvious, get off your but and go to the bank. If the bank’s closed, go ahead and make the transfer on Sunday or Monday — what’s the difference? (Pretty funny that Chase stooped to this level, though.)
- Some are being told that they can’t withdraw all their money at once,.. so can’t close their account right away. I’ve actually run into this problem, and apparently there’s a law on the books that allows a bank to refuse giving a customer the full amount of money in their account at one time to ensure that they have some cash on hand (established in order to prevent another ‘run of the banks’ — wonder they’d be prepared for that…). Anyway, there are ways around it. A) Go to the ATM and max out your ATM withdrawals. B) If that doesn’t do the job, you might also consider going to shops that offer “cash back” and making small (necessary) purchases while maxing out the cash back options. C) You can also try writing yourself a check (no reason that shouldn’t work). D) Wait a day or two and finish the job then.
- Of course, last month, some Occupy Wall Street protesters who went to Citibank to close their accounts were arrested. A completely idiotic move by the bank, but nonetheless, to avoid running into such problems, be as polite and cordial as possible. Remember that the bank tellers are part of the 99% and if you are going to try to educate them (recommended), do so in a tactful, enjoyable (for them) way.
Sound good? Run into any other problems? Or have any other good solutions or comments? Drop us a line.
OK, one more time, the Move You Money video:
And why not this one, too:
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