Bank Transfer Day: Nov. 5

Dear Madame L,

I'm impressed by the people who are participating in the "Occupy" movement across the country, but I'd like to do more than just march or spend a few nights in a park or something.

I've heard that someone has organized a "Bank Transfer Day," suggesting that people move their money to credit unions or small community banks. But I rely on my national bank's ATMs which are all over my city and state, and all round the country. 

Any suggestions?

Sincerely,

Sick of My Big Bank

Dear Sick,

Madame L thanks you for bringing this issue to her attention. She has found out that Bank Transfer Day is Nov. 5, 2011. This article suggests ways you can transfer your bank funds to a credit union or small community bank without going through a huge hassle, arguments and possibly more fees, with your current large national bank. 

(Nov. 5 falls on a Saturday this year, so you'll have to do some planning if you want to get your funds out of your bank and into another location by that date. Details are suggested in the article.)

(Madame L thinks it's interesting and ironically appropriate that the day chosen for this is Guy Fawkes Day, celebrated in England with bonfires, the burning of effigies, and other such merriment.)

Apparently some people in the U.S. are feeling particularly burned by the Bank of America, which accepted a huge federal bailout a few years ago, then paid back the money early so it could go back to giving huge salaries and bonuses to its executives, and has now decided to fire 20,000 employees AND charge $60.00 per year to its customers who want access to their own money.

Madame L is a big supporter of credit unions, which have their own national network of ATMs. What's more, using one of these ATMs is free!

Here you can find where these ATMs are in your area or in any ZIP Code in the U.S. 

If you do switch to a credit union or small community bank, you'll not only give the message to the big bankers in the way they're most likely to feel it, but you'll be doing yourself a favor.

Good luck,

Madame L

P.S. Madame L has just found a fascinating scrap album of photos and information about Guy Fawkes Day. 

Here are the lyrics to the song:

• “Remember, remember
• the Fifth of November
• is gunpowder treason and plot.
• I see no reason
• why gunpowder treason
• should ever be forgot.
• Knock at the door,
• ring the bell.
• Have you got a penny for
• singing so well ?
• If you haven’t got a penny
• a ha’penny will do
• If you haven't got a ha’penny
• then God bless you !!” 

Madame L also highly recommends the movie "KJB: The Book That Changed The World," available on DVD from Amazon.com for $15.61, in which Guy Fawkes and his fellow revolutionaries play important roles.