Move Your Money from Big Banks

David · Joined: 19 May 2004 Posts: 754 Location: Atlanta, GA

After all of the fees and other hassles that big banks have caused, isn't it time to move your money?

What is really amazing is smaller banks and credit unions actually offer a better deal than the big banks, yet many people are unaware. From savings account interest rates, to CD interest rates, to home loans, to credit card rates, the big banks are just not cutting it any more. They are charging more to the consumer than small banks and credit unions, but people don't realize it. It's time to become aware, and end up with more money in the process!

This is not a Democrat or Republican issue, as everyone has been affected by the smoke and mirrors and ripoffs, and this is something everyone can stop. As I write, there are hundreds of messages being spread across social media sites. People are frustrated, upset, and ready to do something about it. There are many areas where American consumers have little control such as healthcare and gas prices, but in the area of banking, this is a movement whose time has come, and Americans are ready to do their part to bring change.

Even if you only keep a small balance in your checking account or savings account, you can still end up with significantly more money at the end of the year by both avoiding fees, and earning interest (even if it is a small sum). In a majority of cases, for just an our of your time to setup and account at a new bank and later close your account at the "big bank", you can save yourself a few hundred dollars over the next year.

A great place to start your research is the Bank Deals blog. They update their site daily with the latest banking deals. Also, if you want to check the solidity of your prospective bank, try looking it up on Bauer Financial where they have ratings. And to give you a headstart, one excellent credit union with great rates that ANYONE can join is Alliant Credit Union.

Do something patriotic and change banks today! Good luck!

JPowell · Joined: 20 Jan 2010 Posts: 103 Location: PA

This is incredibly true. Big banks really do pinch every cent out of their customers that they can and it's obnoxious.

I need to get off my rear and call BoA about my checking account because it has a $9 monthly fee associated with it that I've been paying for over a year since my direct deposit with my old job ended.

It might not sound like a lot, but that's over $100 of my hard earned money that they're scalping every year! What's more annoying is that I opened a second set of accounts online, and the new accounts don't have that fee purely because I opened it online instead of in person!