I Closed My Account!

If you have recently closed your account, or have something to tell of your experience, then we want to hear your story to share tips with others on how to go about it, there is strength in numbers.

If you recently opened a credit union account, please tell of your experience to help others to know more about what to expect.

We shall be silent no longer, We are the 99%

53 responses

  1. I moved over a month ago when Regions told me they were going to become the next Amscot and the service went down hill quick. Another sign of the “rich” trying to keep the poor poor.

  2. Fabulous service at my Credit Union. Tellers friendly, know your face and NO FEES for checking. I saved myself over $30/mo by moving from Chase to my local Credit Union.

  3. Having experienced most of the major banks in Australia over the years, I throughly recomend Bendigo Bank. They are a small regional bank that returns a proportion of there profits to the community. I have experienced first hand a number of the projects they have helped fund, and unlike the major banks they do so for the right reasons and not as a PR exercise

    1. I agree. I’ve been with Bendigo for years – they’re fair. And that says a lot for a bank…

  4. i’ve had an account with arizona fed credit union since i was 14 years old. they’ve NEVER screwed me over, it’s completely free, i LOVE it! i’ve had accounts with wells fargo, chase, and BofA, and they all ended up charging me so many fees i just closed the accounts and let them keep the money in them. i learned my lesson, and i’ll be with AZFCU forever!

  5. We recently bought a new VW, and our local PA State Employee Credit union was able to beat “Banks” rates by a huge margin. We ended up paying a little more monthly, but 2 years less on the loan. They saved us thousands over the life of the loan.

  6. I switched from Wells Fargo to San Francisco Federal Credit Union almost two years ago, and could not be happier. The lack of predatory fees is great, but mostly it’s how NICE they are to me as a customer. They do everything they can to help my rent check clear on time, they get it. All the employees and customers are locals, super friendly and there’s a feeling of community. I could go on… get your $$ out of corporate hands, you will not regret it.

  7. I closed my BofA account over a year ago (influenced by Move Your Money) and have never been happier. No more ridiculous checking fees, overdrafts fees and they have better customer service. They are also just as convenient where I live so there really is no excuse – unless you like paying more to a huge bank that doesn’t give a damn about you.

    1. here here! nice job Dana! ty for sharing your story

  8. I’ve had Apple Federal Credit Union (Northern VA/DC Areas) since my mom opened an account for me when I was adopted. 22 years later… still have it! Never had a big issue ever with them, they pay off 2 overdrafts before charging you any kind of overdraft fees (one of mine was close to 90$ and they still payed it off without an overdraft fee!), same perks other banks have: direct deposit, mobile account viewing/transfers (GPS to nearest ATM/Branch), online bill pay, etc. I love them!

  9. Opening a new account at a CU today. Since it is not convenient to go to the branch (it’s not close to my place and current automatic deposits go to my current bank account) I’ll continue to deposit money to my corporate bank account but transfer all funds to the CU. The most important thing is starving the corporate banks from cash. Keeping a shell account with them for maintenance purposes is just fine with me–makes the transition easier.

  10. I got out of the national bank chains several years ago. The story of the 13 largest banks defrauding military veterans and the fact that the justice department refuses to get involved alone is enough reason to close your account! That’s just the tip of the iceberg too.

  11. I have payments outstanding so I can’t do it on the 17th, but ASAP I am moving to a local credit union.

  12. My partner and I closed our BoA accounts back in August when we saw the video of the BoA exec approaching Rick Perry and telling him that BoA will help him out. Then articles about BoA’s previous contributions to Perry’s past campaigns surfaced. That was all we needed to make up our minds.

  13. I closed my Ally online savings account last week and am using mostly CASH now. On the GDOR 10/15 I closed 2 chase credit cards. She asked if there was anything chase could do to stop me, I said Chase has already done enough to destroy our country. **99%

  14. We’ve switched away from big banking as well as PayPal. We’re using a credit union for everything (same CU I’ve been personally with since ’96). Banks don’t want to lose business accounts. A scale movement of small biz funds could really help the cause.

  15. I will soon close my account with this greedy bastards of Bank of America. Moving to a local branch or credit union.

  16. I left BoA 18 months ago when they did away with free checking. Technically, they’d let me keep free checking if I agreed to either keep a daily balance of $1500 or only use online banking and make deposits via ATM. I may be a little old school, but I enjoy the face to face experience. I also enjoy the drive thru. Taking those options away from me made it seem very impersonal and poor customer service. When I closed my account, I was laughed at and ridiculed with other customers and bank employees within earshot. I quipped back about how I’d choose customer service over what they offered any day. I now use a small hometown bank and I’ve never had problems with them.

  17. As soon as the banks open here mine is shutting down.

  18. My girlfriend and I changed to Ally (they retain all ATM fees from any ATM you use) long before the protests.

  19. I closed Citi accounts last year, because I wanted my assets used locally; our family shifted our accounts to a credit union.

    It took multiple phone calls over months to finally get CITI to close all of our accounts – a last frustration.

    My credit union answers the phone when I call, lends my savings to fellow union members (abd to me if I need it), has ATM’s in every McDonalds in the country, allow for easy online banking, automated payments, and online checj deposits, and acknowledges their own mistakes graciously, while not killing me with fees when I mess up.

    My questions are:

    1 How much impact would the 99% have if we all move our funds into local banks or credit unions, who have a record of local lending? Could this actually improve our economy, generating locally held capital which is loaned to local business, car and home buyers?

    2 If a mass movement occured & negatively impacted the megabanks, would we simply see a recurrance of “too big to fail” bailouts?

    My feeling is that I put my money where my mouth is, for real. I may not be rich, but if every middle class person kept what we had in local banks and credit unions (which are all federally insured), economic power would shift, on some level, from globalized boardrooms back into our communities.

  20. I think if thi is a good sign, shows the evil assholrs at the top of the corruption and not funding their old system anymore… i mean its been happenning but now the 99% can see it clearly upon opening the third eye and or spiritually uniting to the 99%.

  21. My partner and I moved out accounts to a credit union Saturday. Their “Feel Good Checking” donated $20 to the local charity if our choice. The teller, dining a smile and a badge stating “serving you since 1996,” shook our hands and welcomed us to “our credit union.” We walked out and both said at the same time, “this really does feel good!” I wish we’d moved our money years ago but I am thankful to the whole globe for reminding us to finally get it done!

    1. This has been what everyone has said about the customer service, its real,

  22. I closed my BofA acct back in August. The reason being, at the time, were numerous. For one, I had already been using a local credit union as my primary account. The only reason I opened an acct at BofA in the first place was because it included a $75 bonus with a deposit of $100. Once I received my bonus, I transferered it to my other acct and forgot about it. This was back in ’09 or so. Earlier this year, I received a letter from BofA stating my *free* checking account was no longer going to be free, and that they would start charging me per month unless I kept a balance of a few thousand dollars in the account. By this time, I had been hearing news of their misconduct, and outright illegal & fraudulant activities. You know, mortgage note fraud relating to the mortgage backed securities that triggered the economic crisis we’re in now, BofA (among others) illegally foreclosing on people’s homes, BofA refusing to work with homeowners who qualified for modifications & foreclosing on them anyways (my sister is in this boat, so it became personal at that point), etc. etc.

    The fee for this account I didn’t even use was not something I was going to stand for, let alone for a bank as corrupt & downright criminal as BofA. So, back in August, I went down to a local branch, withdrew what little I had left in that account & was instructed to talk to another teller who manages accounts. Once she started giving me the sales pitch I went off, vocally expressing my views & explaining that I will not do business with a bank that is guilty of mortgage fraud & illegal foreclosures. I said it rather loud, ensuring everyone in the bank would hear. She then quickly processed my request & closed my account. I told her I didn’t blame her, but the company (again, loudly) for its illegal practices & for robbing American’s of their hard earned tax dollars & even stealing people’s homes right for other them, as I walked out of the branch with an evil grin.

    So, that was my experience with BofA. I made $75 off of them via a promotion, never banked with them after, and made sure I vocally stated my opposition to the bank’s fraudulent/illegal practices while closing my account. All in all, I say it went rather well.

    1. I applaud you, I know for some they have huge investments in banks, and to make the change is such a big commitment, but it can be done, you have shown it! kudos my friend

  23. Today, a credit union teller said that they have been getting swamped in the past month, by the thousands. I informed her of the Occupy Wall Street and Bank Transfer Day, and said you’ll have even more people soon. Viva.

  24. Closed my BofA and Chase accounts. Already had WaFed account, and keeping it. Opening BECU, maybe WSEDU account.

    Compromise that, MegaBank. :)

  25. Just closed my PayPal account as the first step of my own #OpCashBack and #OpPayPal plan.
    I was going to do it anyway and news about blocking funds for Diaspora open source social network finally made me to do it now. I’m going to close 2 bank accounts ASAP as the second step of my #OpCashBack plan.
    Though I cannot close 1 account because of mortgage there, but I’m going to research my options here.

    1. when you open you CU accounts, tell them you have a mortgage with so and so bank, and you want to see what you can do, CU have great rates on mortgage’s and you may end up coming out better with your rate then before :) Good luck and keep us posted!

  26. I never trusted big banks. I have always used local credit unions. Bank of America is full of hidden fees. And charges only making the MAN richer and continuously stole my hard earned cash. And does so for millions of ppl. Now the charge $5.00 a month for ATM transactions, and u pay $2.00 per transaction at other ATMs. People are being robbed in broad daylight. You can’t rob a bank with a gun. But you Can rid the World with a bank

  27. Here is my story, It began years ago. I opened a BofA account after landing steady work. Frustration from the firstg weeks. Anytime I tried using an ATM ONE TOWN over, it would block me. I would call, and they would say it was suspicious activity since it wasn’t the town I lived in. Dumb, yes, but I let that go time and time again. Then one day I see that I had an overdraft of over $700. Seems small but I was a very young worker. I called immediately because the last time I bought something, I had $400 in my checking. They said it was my account, thus me, being used. Apparently, I can’t make a purchase one town over without my account being shut down for safety reasons, yet I can buy many items in Oregon (never been) without any investigation. I let it go, knowing fully well I was cheated. How happy I am to never do business with them again, seems I’m not the only one :)

  28. I have so many good stories about my fabulous credit union in Minneapolis. We have all of our car loans, mortgage, line of credit etc with them and would never use a commercial bank. Ever.

  29. Moving our money hasn’t been that easy, I am still tied up with Wells Fargo with a loan and a credit card, but we are working to get a loan from the credit union to pay off the big bank. It felt pretty good pulling out my money, even if it was only a measely $1300. I am spreading the word, and the lady at the credit union said they had been swamped with people opening up new accounts! Awesome!

  30. Anyone know of a good Credit Union in London, UK?

    1. check the links to the right of the page, there are 2 which give a list of CU around the world

  31. I don’t really have a story about switching from a bank, because frankly I’ve never trusted them. All my life I’ve had accounts with a credit union. It’s so much nicer to be recognized when you walk in, I can always tell if there’s a new teller because I’m asked for my ID. Maine has a wonderful credit union league where all participating credit unions agree to never charge ATM fees from each others ATM and with a large percentage of Maine credit unions participating, I never have to travel far to get my money without being charged for it. The one time I’ve strayed from the true course was for a car loan, the dealership has a system that shopped around to area banks and credit unions to try and get the best deal for me. The best deal happened to be through a local bank, not even a big corporate bank, and they screwed me over multiple times, misdirecting payments, losing payments, etc. Never again will I even think about a bank, I’d rather keep my cash in a safe under my bed than use a bank.

  32. My wife and I opened up an account at a local credit union today. It was by far the friendliest and most hastle-free experience at a “bank” we’ve ever had. When our last check posts to our account on wednesday we will be moving the money from our bank of america account over to the credit union and closing or BoA account. It feels nice to be free of the constant worrying about new fees and regulations on our BoA accounts (recently being told we must keep 1500 dollars minimum in our account to avoid fees). Really happy with the experience overall and encourage others to do the same!

    P.S. My mother-in-law went with us and did the same.

    1. I forgot to mention that I was going to ask if they had been busy lately with new customers but she offered it up before I could get around to asking. She said they’ve been “unusually busy lately opening new accounts”.

  33. We closed our BANK OF AMERICA account over a month ago and opened a new account with a local credit Union. At first we had a problem trying to get all of our money from BofA, but after complaining enough and talking to a Higher upper, we finally got back all our money. I love how banks have no problem taking your money, but giving it back is another story.
    The local credit union is much friendlier and faster. No worries now.

  34. I had a free checking account for 12 years at one of my local banks. First it gets bought out by Chase with consolidation money from the Bush-Obama bailouts. Then they started requiring I buy “special” checkbooks directly from only them at a premium. They fired my favorite tellers. Eventually the phony charges on my “free” checking account became prohibitive and their “free” ATM stole my debit card. My account fell below a minimum balance. They instituted a monthly minimum balance fee and invented random $5-$35/month maintenance fees After 20 harrowing days I got them to drop all the attacks on my balance by paying them extra money to close my account, also lowering my credit score again. When my account was finally closed I told them in the future my business would be handled by the credit unions and I loudly urged all the customers present to do the same. The teller from out-of-town told me to leave or they would have to call the manager. I used to be able to bank there without ID, since its my home town and they all knew me. Chase moved in their own people after using taxpayer money to buy them out.

    1. Its what happened here with Commerce, which was so so, still owned by shareholders, bought out by TDBANK and wow did the fees shoot up, Im not a rich person to begin with and so I could not keep up on the monthly balance fees, so unhappy, happy thought that I am with Affinity Credit Union now, and hope you are happy now as well :)

  35. It took three tries to finally close my account at Union Bank. It was obvious the staff is under pressure not to let any customers get away …

  36. I opened a Credit Union account. It will take about a week for my new ATM card to arrive… so I am glad I did it NOW, so that I can CLOSE MY BANKSTER acct by Nov 5. Remember Remember the fifth of November. It’s Guy Fawkes Day. I’m hoping for fireworks.

  37. USAA operates a federal savings bank, highly rated and member-driven, if you’re eligible I suggest you check it out. I’ve been with them since deciding to switch away from big banks a few years ago, it was well worth it, not only for the reduced fees but the peace of mind and sense of doing business with a good bunch of people.

  38. I moved my meager funds from BoA to a small local Bank last week. They have 2 locations in my community , one next door to my place of work. The Bank Pres. tried to help me get my phone out of an elevator shaft I had dropped it down ( long silly story ). Such a regular guy gets my business every time :-)

  39. I opened up an account with a credit union in SLC, the only thing it cost was $10 to order 150 checks. I still don’t understand how you earn interest or anything, I’ve only ever had a checking acct at Chase and I hate them with a burning passion. I deposited $800 from my bank to the CU and they just swiped my card to get it, no fee like if I would have drained it from an ATM, so since I have a $1000 daily limit I’m thinking just go back and have them swipe it every day until my bank acct is drained so I don’t incur closing fees. I’m still not even too sure about how to close my bank acct without incurring closing charges, so if someone could share their experience I’m sure others could benefit too.

  40. banking is only designed to enable the few, people are brainwashed at an early age to open up bank accounts, and every year they give you a new money box, while “your” money was used to make even more money , so the bank can get more money boxes.

  41. I opened my checking account at a local credit union today and am so glad that I did.

    At the Big Bank, sometimes the tellers are friendly, but nothing else about their services are… it’s all very removed and impersonal and even predatory. But the Credit Union is like doing business with friends… they put everything out there in the open because they never want you to be surprised or uninformed (I have been doing other business with them for years)

    … nothing has to be sent away for, it’s all done in-house… those people, right there, are my bank, not some group of multinational blood-sucking billionaires. Very happy.

  42. Oh AND, I can use a network of a zillion ATMs with no fee, worldwide. This step is in no way limiting, it is in fact freeing.

  43. I closed my Wells Fargo account this afternoon and now go through Vystar Credit Union.

    Wells Fargo did not charge a fee. I talked to a teller, who then directed me to wait in the lobby for one of the service clerks. I will say that everyone was courteous, but no one seemed surprised that I was closing my account. No one tried to pressure me to keep the account open. I was only asked if Wells Fargo had done something wrong to lose me as a customer, and if I wanted my remaining account balance as cash or check.

    But even in the end, I didn’t get a “Sorry to see you go” or even “Goodbye, have a nice weekend.”

    I love Vystar because I feel like I’m given individual attention. Even the guard smiles and greets me. Comparing big banks to credit unions is almost like comparing apples to oranges :)

  44. I closed my account at Bank of America on Oct 20th at lunch time– I was the 7th BoA customer to walk into the credit union that day and open up a new account at Tropical Financial, my local credit union that serves Broward, Miami-Dade, and Palm Beach County. The associate at BoA could not believe I was going to get fee-free services at my local credit union. I encouraged him to come open up an account at the credit union too.
    Oh, and my new credit union is PAYING ME 5 dollars to use my new debit card! Woohoo!

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