Remember, Remember, the 5th of November : the Bank Transfer Day

Do you remember me?

If you have seen “V for Vendetta”, or if just paid attention in your history classes, you immediately recalled the famous verses.  On November 5^th, 1605, the plot of English Catholics to blow up the parliament, assassinate the king, and establish a Catholic kingdom, was thwarted.  Four hundred and six years later, thanks to Wachowski brothers, Guy Fawkes, the symbol of the Gunpowder Revolt, found his way onto the faces of thousands of protestors occupying the Wall Street, cities throughout the world, and the Anonymous.              

However, while passions run high, amongst the deafening roars of the public fury and superficial news coverage, there is a voice that wants you to remember November 5^th for slightly different reasons.  Ms. Kristen Christian, founder of the Bank Transfer Day, calls people to establish accounts in small, independent banks, or credit unions, and then, on November 5^th, transfer the funds out of the accounts you may have with the institutions that are too big to fail (You can CLICK HERE to read or listen to the interview with Ms. Christian or click on any text in red for related material). 

Photo from: Marketplace, APM

 This initiative proves that sometimes there are more than two sides to the story.  It is not always the case that, to paraphrase, you’re either with us or against us (i.e.: 99ner or 1%).  The Bank Transfer Day movement is not affiliated with the protests in New York, Chicago, nor anywhere else in the world.  In fact Ms. Christian does not condone some of their methods and does not call anybody to occupy anything (or everybody occupy something).  If anything, Ms. Christian is rather calling for your money to stop occupying the Wall Street and to vote with you wallets.  Especially considering many credit unions and neighborhood banks have competitive rates, lower fees, and actually do care about your business.   

If you suspect your bank already is or is becoming too big to fail, Remember Remember the 5^th of November! In this business money hurts more than words.     .