Will You Be Joining the National Bank Transfer Day?

The nation's banks gear up for public backlash with National Bank Transfer Day.

While Occupy Wall Street is not the force behind National Bank Transfer Day, they are definitely throwing their weight behind the effort and the news wires across the nation are abuzz with the possibilities.

So what is National Bank Transfer Day?

Consumers with the big banks are being encouraged to ditch their banks, with all of their account fees, ATM fees and, as some would argue, consumer-unfriendly practices and take their money to credit unions instead.

If not Occupy Wall Street, who started this?

As it turns out, word on the street is that Los Angeles gallery owner Kristen Christian, 27, started the event after being frustrated by her big bank's practices.

Are the banks aware and prepared?

Both the big banks and the credit unions are not turning a blind eye to this day. Many credit union associated websites are featuring information related to the event, and the big banks seem to be suddenly becoming very responsive to public outcry over their practices. This is well demonstrated by Bank of America's recent decision to scrap a newly planned $5 debit card fee.

While Bank of America is reportedly saying that its decision to drop the fees are due to customer anger and criticism from congress members for upping the fees after receiving bailout money, it's hard to dismiss the fact that the Occupy movement has stepped full force to back this “customer rebellion.”

Why Nov. 5?

Apparently , the date of Nov. 5 was chosen as a sort of homage to the Guy Fawkes legend, not to celebrate a failed terrorist attack, but instead as a rallying cry to Americans to stand up and say that they've had enough.

Many will recognize the Guy Fawkes legend as it was portrayed by a poem recited in the movie V For Vendetta, which has now become a common rallying cry in the Occupy movement.

The poems says:

Remember remember the fifth of November
Gunpowder, treason and plot.
I see no reason why gunpowder, treason
Should ever be forgot...

And while Guy Fawkes Day was originally created to remind the population to that treason will not go unpunished, it has since taken on a different, more ironic meaning meaning.

Of course, the real question is, will you be participating in this nation wide event? If so, then why have you chosen to participate?

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.


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