Okay, who scheduled Bank Transfer Day for November 5?

[brooklynite]

A Saturday?

When most banks are closed?

Image is everything; yes you may be able to close your account online, but it won't have the same media impact of a story about people walking into their bank branch (not as part of a mass protest) and closing the account in person.

[arcane1]

1. I wondered that myself

I think it had something to do with that comic-book movie.

[enlightenment]

5. This is what happens when people start using movie scripts

as the basis for social/political movements.

Every semester I have student's ask that they be allowed to watch "V for Vendetta" for their movie review assignment for US History . . . "it's about the American Revolution!" they proclaim.

I only let them do it if they can explain, after watching, all the reasons it isn't about the US.

sigh.

[redqueen]

38. Your "student's" do this?

I hope you don't actually allow them to watch movies which have nothing to do with US History in your US History class.

[enlightenment]

120. Oops - was that my misplaced apostrophe?

Silly mistake that I unfortunately make more than I should. I stand corrected - and thank you for catching the error.

As for the films? They have a list from which to choose, but they are allowed to offer up an alternative. Sometimes I will allow a film not on the list - but not "V for Vendetta" for US history. Doesn't stop them from trying.

Some 'non' US films are actually useful for understanding US history; offering a different perspective or simply enlarging the context of an event. I don't have a hard-and-fast rule against it, but I do draw the line eventually. The purpose of the exercise is to look at a film with an eye to its usefulness in learning and understanding history. That means (among other things) determining where the film diverges from what we understand as fact and how that impacts the usefulness of the piece as a whole.

I do allow "V for Vendetta" in the second half of European history - it's on the list.

[Leopolds Ghost]

65. Accuracy: It's a respected graphic novel about political oppression and movie came 20 years after.

And the movie is a dumbed down version of the (famous) author's graphic novel.

This is a bit of a sore point with those of us who are culturally literate.

It's like calling The English Patient "that romance movie from the 90's."

[arcane1]

79. Thanks for implying that I'm not "culturaly literate"

Just because I haven't see a movie that you call "Dumbed down"

Get over yourself :eyes:

[Leopolds Ghost]

88. I didn't exclude you from the ranks at all. :-)

Just pointing out that people shouldn't constantly refer to the movie version
of written works that were originally considered important. That goes for the protesters, too. :hi:

[arcane1]

104. Peace

I think we're on the same side :)

[Leopolds Ghost]

127. So I wonder how it went yesterday

I don't have enough money to take close my Bank of America account and open a new one, sadly :-(

Especially sad because Bank of America took over what's always been our hometown bank on Main St.

[FarLeftFist]

110. Most banks are open on Saturday.

[Cirque du So-What]

2. I thought it was 2 Nov

Not that I paid close attention; I have been with credit unions for upwards of 40 years.

[Juneboarder]

49. 11/2/11 - Day of the General Strike nt

[willing dwarf]

3. Guy Fawkes

back in 1605. It just happens to be a Sat this year.

[dipsydoodle]

6. lol

:rofl:

[annabanana]

95. (that's actually the reason the 5th was chosen). . . .n/t

[Scuba]

16. What the hell was he thinking?

[mmonk]

30. Yep.

[boston bean]

45. Banks are open on Saturday in my area, until 12pm or 1pm. nt

[formercia]

98. Guy Fawkws failed

Personally, I think he is a bad role model.

[October]

112. Right... Remember, remember... the 5th of November. /nt

[MineralMan]

4. Someone who didn't look at a calendar, I suppose.

Or someone with no funds in a bank. In other words, someone for whom switching banks is irrelevant.

My bank's branch is open on Saturdays, but transactions don't post until the following Monday. No real business is done on Saturday...only future business. You can't actually close your account on November 5. You may be able to initiate the process, but the actual business won't happen until Monday.

So, someone who wasn't paying attention chose that date. :shrug:

[Electric Monk]

8. or perhaps someone who knew it would generate extra discussion?

[charlie and algernon]

11. but if that discussion is all about how it's on a Saturday, and therefore not smart

what's the point?

[Electric Monk]

17. So pick your own day

[sabrina 1]

85. The date was chosen for a reason and so far it appears to have

been a very good choice. I've seen no discussion about the date until now, but plenty about people, including our family, who plan to open accounts in a CU on Saturday. The date is symbolic, however, and CUs are advertising they will be open late on Saturday to accommodate those who want to use that day symbolically to dump their Big Banks. But Monday or Tuesday is fine too.

Seems to have been very successful so far.

[fascisthunter]

96. verrrrry successful

hence the concerns

[sabrina 1]

109. Yes, so much 'concern' that it might not work!

:rofl:

[RockaFowler]

32. I colsed my bank on a Saturday

That's the only day we have off. So we closed it (BofA) and never looked back

[LanternWaste]

61. Or someone who thought that fewer people would find it necessary

Or someone who thought that fewer people would find it necessary to take off work on a Saturday morning... :shrug:

But I do understand your point-- it's much easier to criticize a position than it is to attempt to understand more than one perspective...

[sabrina 1]

84. Actually they were looking very closely at the Calender when

they chose the date. Nov 5th is Guy Fawkes Day. It doesn't matter whether the transfers actually happen on that day.

Many Credit Unions are staying open late on Saturday and anyone who can't get there can open their accounts online.

Joined now by OWS, Bank Transfer Day is likely be extended. When the Governement fails to abide by the rule of law, these are the kinds of things that happen.

But 'They' were paying very close attention when they chose the date and apparently it was an excellent choice.

[MineralMan]

101. But people should be aware that transactions made on Saturday

will not post until the following Monday. The branch may be open, but the bank is closed. Nothing happens on the weekend. Deposits made on Saturday will post on Monday. Wire transfers arranged on Saturday will actually happen on Monday. Your account will not actually close on Saturday, and the money you transfer will not be available until Monday.

It's funny how all that stuff works.

[sabrina 1]

115. It is not important when the transactions actually take place.

You are missing the whole point of this effort.

I called our CU yesterday and explained I cannot get there tomorrow to open an account. They told me to do it online and it will be recorded as happening on the 5th and I will receive the free account offered for that day.

So, they are prepared for the transfers and will credit people who sign up that day as being part of the action.

[Kaleko]

124. Very helpful to know this.

Thanks for doing so much good work here, Sabrina.

[SoCalNative]

7. I don;t know where you live, but

banks aren't closed in So Cal on Saturdays.

We even have some branches in supermarkets that are open 7 days a week.

I suspect that the scheduling date has something to do with the fact that November 5th is Guy Fawkes day and the tie in with V for Vendetta....

[nadinbrzezinski]

10. + brazillion.

Even my cu is open on Saturday.

[sarge43]

44. This burg's population is a thousand people and ten moose and

our local bank is open Saturday morning.

[newblewtoo]

57. My CU has a branch

at the supermarket but I have never found it necessary to use it. Then too, they have a table set up in an isle near the in store pharmacy where they are giving flu shots. I haven't availed myself of that service either. Just can't seem to bring myself to get a flu shot from someone I don't know at a folding table. :shrug:

[redqueen]

9. It's symbolic. Guy Fawkes Day. And media impact?

This move away from big banks has been steadily happening for months. Not everyone took it so literally, thank goodness.

[arcane1]

13. Thank goodness indeed

Extra bonus thanks that the Occupy movement isn't filled with people wearing those masks. I'm quite relieved that didn't catch on.

[brooklynite]

24. Guy Fawkes = a theme from a Comic Book...

Anyone else see the problem?

[redqueen]

28. Are you f*cking kidding me?

A comic book? ('Comic book' does not have to be capitalized, btw.)

FFS.

[randome]

37. I think the point is that most people didn't know or care about Guy Falkes.

Until 'V For Vendetta' came out.

[redqueen]

39. Most people != most Americans.

And it's Fawkes. With a 'w'.

*sigh*

[randome]

41. How fondly I remember talking about 17th century English history...

...in the office before 'V For Vendetta' came out. The interesting opinions that were expressed in the break room. The conflicting points of view that were entertained when we gathered by the vending machines...

I had forgotten about those conversations.

[SoCalNative]

72. Um, no

Guy Fawkes isn't a theme from a comic book.

[October]

113. Comic book? What are you talking about? /nt

[sabrina 1]

116. No, what is the problem?

[randome]

12. I pointed that out earlier.

If everyone wants to do their withdrawals on the same day -a SATURDAY, no less, when banks, if they're open, have shorter hours- long lines and mass confusion will result.

I've been advocating people taking their money out whenever it's convenient to them.

It still sends a message.

[Hassin Bin Sober]

62. Well good for you!

[randome]

67. Agree!

:toast:

[sabrina 1]

117. The CUs are prepared for it.

Eg, I cannot get to ours tomorrow as we have a wedding to go to. I called and explained that. They told me to do it online and it would be recorded as having been done on the 5th and I would receive the freebies they are offering for that day. They advertised for it so they are not anticipating any confusion. People will be paid overtime, another good thing for the economy as some of the Credit Unions are staying open all day to deal with the business they anticipate.

But you are right, it doesn't have to be on that day and many people probably can't do it that day but will do it when it is more convenient for them.

[Huey P. Long]

14. Banks are open on Sat., and Nov. 5th is a different day each year.

But if that is not enough to put the lame attempt to denigrate to rest, here is your exact answer-

"Move Your Money on November 5th"Remember, Remember the 5th of November"

On November 5th, also known as Guy Fawkes Day, hundreds, potentially thousands will withdraw their money from the nation's largest Wall Street banks and move to small community banks and credit unions. What started out as just a Facebook event page by Kristen Christian of California, quickly went viral and garnered national media attention. Now the Facebook event for Bank Transfer Day hosts more than 72,000 attendees and has inspired other events including College Bank Transfer Day and a "Move Your Money" day hosted by the Occupy Wall Street movement in New York. Progressive organizations such as the PCCC and MoveOn have begun their own campaigns, as well as the New Bottom Line launching their own "Move Our Money" campaign. Even groups small and large are hosting their own events, getting their friends, colleagues, relatives and more to join in on the movement...."

http://moveyourmoneyproject.org/blog/2011/11/02/move-your-money-november-5th

[arcane1]

18. My bank isn't open on Saturday

But it doesn't matter, I'll be moving my money at a time that works best for me. Such as the time when I have enough money to open a new account.

[redqueen]

19. Lame attempt to denigrate, that is it exactly.

This kind of nitpicking BS is just sad.

[Huey P. Long]

21. And those masks! Did you see that some of the protestors are wearing

V masks?! The horror!

[Kaleko]

43. Thanks, Huey, for saving me the time to say exactly what you did.

:thumbsup:

[October]

114. Thanks. My 2 are open on Saturdays. Shorter hours... but open. /nt

[abelenkpe]

15. My bank is open on saturday

er rather credit union.

[EFerrari]

20. What bank isn't open on Saturday? All the banks here are.

[FarCenter]

22. Banks will be rid of their least profitable customers; and they'll make plenty on fees

It's guaranteed that many of the people most peeved at BofA and others don't really understand the banking services they now have, nor those they will be getting from credit unions and community banks.

Large numbers will screw up the process and get hit with fees for bounced payments hitting accounts with no money in them, e.g. direct deposits going to the old account, and bill payments hitting the new account which has insufficient funds, etc.

[redqueen]

26. Yes, because only poor people and idiots who don't understand accounting would do this.

Seriously, wtf.

[FarCenter]

55. I guess you haven't read the many posts claiming that foreclosures are all the bank's fault

Because they did not explain clearly and honestly all the intricacies of the mortgage that people were signing?

And that people can't really be expected to watch out for their own interests when dealing with financial matters?

No, many people will transfer their accounts without any problems by following the advice given in several posts about how to transition your financial activity from one bank to another over a couple of weeks or months, depending on complexity and rules.

But there will be quite a few that incurr additional cost and effort by screwing it up, miss-timing transactions, or closing accounts prematurely.

[EFerrari]

68. The foreclosure tsunami was caused by predatory lending, yes.

If you don't understand that, it's willful. There is a mountain of evidence available to anyone who has The Google.

[girl gone mad]

77. You rock!

[Huey P. Long]

27. I laugh at this pathetic attempt at throwing cold water. Pathetic.

[randome]

33. I remember you pointing this out earlier.

(At least I think it was you.) And I appreciate the points you raise.

I don't see the point of screwing with the banks when it's the regulatory environment that allowed them to crash the system and that environment is still in place.

But if mass withdrawals are still the way people are determined to go, trying to do it all on a half-day banking day seems ludicrous -a receipe for frustration for everyone involved -people making transfers, people wanting to do their usual banking and the tellers.

[redqueen]

36. It's amazing that people could have missed that this has been going on for months.

And that the date is symbolic and not official.

But actually no, no it really isn't.

[PA Democrat]

50. Actually, these are the customers that pay the MOST fees

which contribute a significant amount to the big bank's bottom line. There have been some limits set on the amounts that banks are permitted to charge, but it is still a big profit and hits low income people the hardest.

http://money.cnn.com/2009/08/10/news/companies/bank_overdraft_fees_Moebs/

Did I misunderstand your comment? Are you really implying that banks are happy to get rid of customers they have been profiting off of with obscene overdraft fees, late charges and interest on credit cards? Seriously? Is that what you believe?

[quinnox]

51. Don't bother, I don't think that one

understands anything about business.

[FarCenter]

71. Most of the bank's retail customer profits come from the 20 to 30% most profitable customers

The bottom half customers generally cost the bank money.

Also, most of the bank's profits are made from lending. Small deposits and payment services are far less profitable.

So it really depends on which customers are moving.

Best guess I've seen is that about $5 billion in deposits could leave Bank of America. They have customer profitability analysis tools that will tell them whether it is positive or negative for the bank.

[PA Democrat]

75. Did you read the link?

You are wrong.

[denese]

53. just wondering

what are you FarCenter of? Posting this stuff on the DU, seriously? then trying to defend it. wow.

[sabrina 1]

89. So, you think that the American people are all too dumb to know

that they might bounce a check if they close out their accts while checks etc. are still out there? :rofl:

I love this attitude because it has prevailed for a long time and in a way, it's a good thing that those who are abusing this country actually believe this garbage. Even this president seems to have bought into it stating at one point that the 'American people don't really understand economics'.

This gives us the advantage, it's like holding a secret weapon and waiting to use it when it will be the most effective.

Elitest, stupid assumptions but as I said, good for us.

Don't worry, we plebs actually probably know more economics than the morons who have run this country into the ground, while claiming to be economic geniuses. This is why we the people are now taking matters into our own far more capable hands.

[ProudToBeBlueInRhody]

107. This is what BIG CORP wants

It's too complicated......too much work.....stick with what you have, we'll do all thinking for you.

So glad I never got hooked up with a big bank in the first place. I'm clearly too stupid to handle the concept of changing banks.

[sabrina 1]

94. Mmmm, someone doesn't know much about the Foreclosure

crisis and the fraud and crime and corruption involved. Maybe they don't want to, but anyone who still thinks this old 'blame the victim' garbage can possible eliminate the crime, needs to wake up.

Here's a simple question for you that might help erase that old rightwing 'it's the dirty welfare queens' fault image from your mind.

How many foreclosures were there on average in this country BEFORE the criminals on Wall Street crashed the world's economy?

And once you answer that question, then ask yourself 'how come that number increased by millions at a certain point in time?' Did everyone suddenly become stupid do you think? Or, maybe there was another reason?

[ProudToBeBlueInRhody]

106. Yes, because without BIG CORP telling us what to do.....

....Americans are headless, mindless idiots. All hail BIG CORP. Without them, all is lost.

[trumad]

23. My bank is open

And so is Wells Fargo, Bank of America, Chase etc.

[EFerrari]

25. Yes, this will fail just as you predicted the Oakland strike would fail. nt

[redqueen]

31. LOL

:rofl:

Now that makes this thread of fail worth reading, right there!

[ProgressiveProfessor]

29. I did find that odd myself

[girl gone mad]

80. Of course you did.

[Hassin Bin Sober]

87. Of course you did.

[sabrina 1]

90. You wouldn't have found it odd at all if you understood the significance

of the date chosen. But lots of others appear to get it, including some of the Credit Unions themselves who are advertising the event and staying open late on Saturday to make sure people are accommodated.

[ProgressiveProfessor]

91. The date is easy...most banks in my experince are closed on Saturday

[sabrina 1]

105. Most banks in my current area and previous two areas are open

on Saturday. They also have online services for anyone who wants to switch their money but cannot make it to the bank.

The date was a brilliant choice. It reminds people who were planning on transferring their money to a Credit Union or Community Bank to do so. Seems to be working just fine. So, you don't have to worry about it, besides, there will be plenty more reminders for anyone who misses this one.

[ProgressiveProfessor]

119. I have not been in a regular bank for decade or more

Been a credit union member for 30+ years.

The date choice is cute, but like many of the geek persuasion, symbolism like that means little.

[sabrina 1]

122. I wouldn't say that. The symbolism contributed greatly to getting

a worldwide people's movement going. For some reason, this particular symbolism has broad appeal and has become a topic of interest because of that, for many people who try to understand these kinds of things.

Personally I think it's because Anonymous, who use the symbolism are viewed as defenders of the people and watching the brutality of the State towards peaceful protesters, the people definitely need defenders from somewhere. It's certainly not coming from their governments, who appear to view them as the enemy.

It is an 'idea', nothing more, but ideas are pretty powerful and always have been. If the police were to do the job we pay the to do, rather than work for Corporate Interests as their 'army' against the people, THEY might be viewed with the same affection as Anonymous is, eg. But that idea is not even worth wishing for.

[U4ikLefty]

125. okay Sheldon

[Lebam in LA]

34. Most Banks in California

are open on Saturdays

[Blue_In_AK]

35. Banks here are open on Saturdays.

Some of the credit unions (including mine) are open on Saturday and Sunday.

[nadinbrzezinski]

40. I guess your banks ain't open on a Saturday

Mine are.

I also know you will nitpick all that is done.

Oh and finally been going on for MONTHS.

[ProgressiveProfessor]

83. I know my credit union is

I haven't used a standard bank in many years.

[Tiggeroshii]

42. There's one on the 30th too.

I think as long as people do it, it really doesn't matter when it's done.

[redqueen]

46. "I think as long as people do it, it really doesn't matter when it's done."

Precisely.

Apparently it takes some special skill to work that out. I thought it was so basic that it wouldn't be missed, especially since this has been going on for months.

Ah, the dumbing down of America.

[Tiggeroshii]

73. I think the impact of setting dates though helps to ensure that more people do it closer to that

date, if they can't do it precisely on the date. Which can send a stronger message as opposed to rolling bank transfers.

[fishwax]

47. All the local banks here are open on Saturday

:shrug:

[TheManInTheMac]

48. Most banks are open until noon. Set your alarm.

[PA Democrat]

52. I don't know where you live, but every bank in my town

is open at least a half day on Saturday.

[msongs]

54. ummm most banks are OPEN on saturdays now. It's not 1950 anymore nt

[quinnox]

58. lol, had the same thought

Where does the OP live, in some Andy Griffith show type town?

[Leopolds Ghost]

69. And yet Congress wants to kill Saturday mail delivery

In order to make the USPS conform to Bush's "kill the Post office" financing law requiring the Post Office to fund its retirement plan 50 years in advance or go out of business.

[Recovered Repug]

56. As stated many times before,

I think most banks are open for some of Saturday. I guess the one advantage (in theory) of having Transfer Day on a Saturday is people won't have to take of work to do it. Not everyone would have the time to do it during a weekday.

[MadrasT]

59. My credit union...

...isn't normally open on Saturday, and they are opening especially for Bank Transfer Day this Saturday so they can accommodate new customers. (Seems like most commercial banks 'round these parts are open on Saturdays. My old secondary backup bank was, I am guessing they still are but I don't care anymore.)

:bounce:

[WolverineDG]

60. When I used a bank, it was open on Saturday

limited hours, but it was still open.

dg

[Tesha]

63. Probably just someone who *WORKS* Monday-Friday like most of us...

...and has to fit a week's worth of errands into Saturday morning.

Tesha

[Hassin Bin Sober]

64. Most banks are closed on Saturdays in Brooklyn ? Really?

[nadinbrzezinski]

81. It's a little town in the middle of the 1950s

I wonder if he had to leave to get to wifi?

[Leopolds Ghost]

66. Here's MY question: Why did [ ? ] think it'd be a good idea to announce an attack on FB

The same day?

[randome]

70. Anonymous moves...

...in mysterious ways. Do NOT question their motives, Ghost!

[in_cog_ni_to]

74. Our banks are open on Saturday...until noon. n/t

[csziggy]

76. Many people have already closed their accounts

I think a lot of people are using the November 5 date as the goal. And they are not waiting for tomorrow to do it. Thom Hartman mentioned that something like 650,000 people have already closed their accounts in the big banks over the last month.

Occupy Wall Street is bringing down the big banks..
Submitted by louisehartmann on 4. November 2011 - 9:05

According to the Credit Union National Association – or CUNA – more than 650,000 people have moved their money into local credit unions across the nation in just the last 4 weeks – coinciding with the rise of Occupy Wall Street – and Bank of America’s decision to set up a $5 debit card fee…a decision the bank has since backed down from.

More people fled the big banks and joined credit unions in the last month – than they did through the entire year of 2010.

If Congress doesn’t want to do its job and end too big to fail banksters – then the people will just starve the banksters themselves. Move your money!
http://www.thomhartmann.com/blog/2011/11/occupy-wall-street-bringing-down-big-banks

[Leopolds Ghost]

86. Now that's heartwarming statistic. Expect a "financial reform" law further restrict credit unions nt

[Fire Walk With Me]

78. So go do it today. If the symbol irritates you, if it so truly matters.

It will take a united people to win this. Let's go with the united part instead of the sophist part.

[demmiblue]

82. My bank is open until 5:00 pm on Saturday. n/t

[whistler162]

92. Shhhh... must not point out flaws in plan or be

you shall be excoriated.

[EFerrari]

97. Except banks are open on Saturday and working people available

to do banking. So other than the MSM being off, considering that they weren't going to cover it anyway, yeah, this plan was all fucked up.

lol

[whistler162]

99. Example of excoriation accepted!

[EFerrari]

100. You're welcome.

:)

Except there was no excoriation of the OP in that post.

lmao

[marmar]

93. "You have to understand, most of these people are not ready to be unplugged....

.....And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it."

This OP proves Morpheus right.

[evrstrong]

102. Well you can't have everything...and it takes planning...

Together we can ensure that these banking institutions will always remember the 5th of November. If we shift our funds from the for-profit banking institutions in favor of not-for-profit credit unions before this date, we will send a clear message that conscious consumers won't support companies with unethical business practices. It's time to invest in local community growth!

• Research your local credit union options
• Open an account with the one that best suits your needs
• Cancel all automatic withdrawals & deposits
• Transfer your funds to the new account
• Follow your bank's procedures to close your account before 11/05

This is not a "run" on the banks...they'll get the idea.

[rainbow4321]

103. If the Conrad Murray verdict comes in tonight

any coverage of bank transfer day is gonna be a blip on the bottom of your TV screen on the scroll-by-really-fast thingy.

On edit: just announced no verdict was reached today...they have let out for the weekend.

[ProudToBeBlueInRhody]

108. Most banks are open 9 until noon on Saturdays

A lot of people working during the week can't do their banking Mon-Fri.

If your bank is closed on the weekend.....all the more reason to get out.

[Zorra]

111. The Credit Union I joined today is not normally open on Saturday but

they are going to open from 9-1 especially for Bank Transfer Day.

[sabrina 1]

118. I'm going to do it online tomorrow and the Credit Union told

me it will be recorded as a transfer for that day and they are giving rewards to their new customers. I would go there as they are open, but we have a wedding to go to.

[RandiFan1290]

121. You mocked OWS from the beginning

Wouldn't expect this to be any different. You were quite wrong btw

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1957745#1957756

[Huey P. Long]

128. Very interesting link RandiFan -eom

[RainDog]

123. even on an off day, a million transfers reported

so, not bad.

and it doesn't have to just happen today. hopefully those who have online banking set up with larger banks will move to credit unions in the next week.

[Missy Vixen]

126. There were plenty of credit unions that opened today

A million people managed to close their accounts since the effort was announced. Plus, I'm sure nobody at all will be closing their accounts over the next week or so as well. :eyes:

It's interesting you've never said anything on this site even remotely supportive of OWS.

Thanks for your concern.