Bank Transfer Day

Bank Transfer Day won't help savers


Depositors joining the Bank Transfer Day protest Saturday are hoping to send a message to the nation's biggest banks that they're tired of annoying fees and government bailouts. Many of them are moving to smaller community banks and credit unions.

But they're not likely to get a higher return on their cash.

Comment: Facebook site

Today I did what was in my financial self interest

  • I checked my brokerage account and my IRA at Wells Fargo. What a great trading platform! 100 free trades a year (yesterday I bought 25 shares of Unilever)
  • I checked my 4 savings accounts and 1 checking account at INGDirect. This week (Thursday) I transferred money into these accounts. A great place to bank
  • Yesterday I had my paycheck (and my wife's) deposited into our joint Wells Fargo account. It's one of the world's great banks and I use a number of their services. By careful management I've been able to avoid overdraft fees for my entire life. That careful management used to involve the very tedious monthly balancing of our checkbook. But now it is a matter of using online banking.
  • Today I transferred money online from my Wells Fargo account to another Wells Fargo customer.
  • Today I used my Chase Sapphire credit card to buy gas for my tractor

Chase, Wells Fargo, and INGDirect. Three great banks. I highly recommend them.

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