bankfees

For all the anti-bank anger erupting across the country, relatively few of us are actually leaving our financial institutions.

On Saturday, tens of thousands will march, protest and move their money out of big banks. But plenty of Americans haven't waited for Bank Transfer Day. For Frank Sheldon of Seattle, his journey to a credit union started in 2008 when his old bank was absorbed by J.P. Morgan Chase.

Like some other recent revolutionary movements, Bank Transfer Day had its genesis on Facebook. But can this grassroots rebellion against the nickel-and-diming of the big banks actually accomplish anything, and how much will the nation's credit unions really benefit?

Out of work and living on a $189-a-week unemployment check, Rob Linville needs to watch every penny. Lately, he has been watching too many pennies disappear into the coffers of the bank that administers his unemployment check via a prepaid debit card.

The financial world's fee fever may have abated -- for now. Several big and medium-sized banks say they're not implementing fees for debit card use anytime soon. But with bank revenues slipping, they do need to act, and more are considering cost cuts to repair their bottom lines.

Columnist Laura Rowley cuts through the hype and explains how she found banks that would pay her for her checking account instead of the other way around.

More than 64,000 of Americans have signed up to participate in "Bank Transfer Day" on November 5. Most will likely fail in their mission to switch to a new bank, according to a report released Wednesday.

New and higher debit card fees may not be enough to satiate the big banks. Financial institutions looking for revenue are now eyeing another source: Selling your debit-card transaction data to marketers. So which is worth more to you: The deals such targeted advertising will bring, or your privacy?

Credit unions, mid-size banks and online institutions are eagerly stepping up to capture banking customers who are fed up with increasing fees at the biggest banks. And so far, it seems, those big banks don't mind losing their business.

Millions of Americans are disgusted with the big bank status quo, and many are closing out their accounts and moving their money to smaller institutions. It's a good time to do it: Credit unions are waiting with open arms, a customer-centric philosophy -- and incentives.