Many of us heard about Guy Fawkes Night — a traditional event on the 5th November night in the United Kingdom and its former colonies. This night commemorates the failure of the Gunpowder Plot — the group of English Catholics who tried to explode the UK parliament.
But not a lot of people know that this day got new followers in the 21st century.
Starting from the 5th of November 2011, Bank Transfer Day is celebrated in the USA.
Bank Transfer Day encourages bank customers to transfer their cash out of big banks to credit unions.
The event is in response to what critics regard as excessive fees that big banks plan to roll out, notably Bank of America’s decision to charge its debit card users with a $5 monthly fee and Wells Fargo’s $3 charge of the same.
The Facebook page for the event states the following:
Together we can ensure that these banking institutions will always remember the 5th of November!! If the 99% removes our funds from the major banking institutions to non-profit credit unions on or by this date, we will send a clear message to the 1% that conscious consumers won’t support companies with unethical business practices.
What do you think about the credit unions? Are you ready to transfer your money there from the banks? Are you currently satisfied with the fees for using your bank card?