"Despite big banks putting up a brave front, there’s a good deal of anecdotal evidence that individual managers are trying desperately to stop customers from moving their money. Whether it’s just throwing up additional hurdles like a $10 closure fee, or outright begging customers to stay, or bad-mouthing credit unions or community banks, or simply refusing to allow people to close accounts, it’s clear that at the local level, bank managers are trying to hold onto deposits, which even in this go-go age remains an important tool for maintaining capital requirements and funding the risky bets banks continue to make.
And if you needed any more of a reason to move your money, consider that many firms, such as Bank of America, have turned the truly indigent into profit centers, by making money off of debit card fees for unemployment benefits".......READ MORE
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