It has occurred to me, due to the arrest of the customers attempting to close their Citibank accounts

[Devil_Fish]

It has occurred to me, due to the arrest of the customers attempting to close their Citibank account...

That this is exactly what the 1%'ers are afraid of.

What do you think about this??? What if every one across the country, nay, across the globe, calmly walks into their bank, closes their account, and leaves?

I'm planning on doing just that. Any tips on how to do it with out getting arrested?

I was thinking of drawing down my account to exactly $0.02 and then calling them and telling them to close it and they can keep my two cents.

On second though, I'll ask them to mail me a check.

D_F

[EFerrari]

1. You'll probably be fine if you don't take 20 of your closest friends with you.

:)

[Jim Warren]

5. Yes

and don't wear mask, lol.

[pnwmom]

2. Are you advocating bank runs and a descent from a serious recession to a depression?

[Devil_Fish]

3. Do we really need these big banks? It seems to me that they created this mess

Then they took out tax dollars in the form of a bail out to pay for their huge bonuses. I'm simply sugesting that the banks have tipped their hand, and shown what it is that they are affraid of. they are afraid that "We the People" will do as a congressman sugested recently and vote with our feet. If the big banks fall because of their own stupidity and greed, that's on them.

[dkf]

13. The question is who goes down with them.

If they are too big the answer could be everyone. Crash the system and the house of cards comes down.

[Devil_Fish]

14. you have to take your medicine, even if it does not taste all that good.

If it is a house of cards, then it is bound to fall sooner or later. If it's a cow pie covered with wip cream, it still taste like shit.

What was that quote??? Oh ya:

“you’ve got to put your bodies upon the gears and upon the wheels, upon the levers, upon all the apparatus, and you’ve got to make it stop.”

http://youtu.be/tcx9BJRadfw

[pipi_k]

47. The same could be said

for, say, people on Social Security/Medicare.

If circumstances merit making changes, and if those changes end up hurting some, then too damned bad, right?

"Take your medicine" if it's for the greater good of all?


Not sure if it's cool to be telling others what sacrifices they SHOULD make. If you don't mind making sacrifices, fine. But people don't have the right to run around forcing others to make sacrifices they can't/don't want to make.

So as far as the big banks go, my suggestion would be to find some other way of making a point besides bringing down an entire system.

[dkf]

69. We are taking our medicine now...not much fun is it?

[cui bono]

80. Well they could stop taking their bonuses and I'm sure it will be fine.

Probably won't have that much money moved.

[sabrina 1]

6. No, advocating not doing business with people who CAUSED

the problems. And who are continuing to foreclose on people every day. They should have been taken over and the criminals prosecuted. The bailout money should have gone to get this country back to work. Moratoriums should be put on foreclosures also.

Today was 'Move your money day' and people all over the country did that. This was separate from OWS. Religious organizations took their money out of banks who are foreclosing on people in their congregations.

We are going to have a depression regardless, all they are doing is putting it off by pouring money into banks in Europe. Now we learn that Tim Geithner is over there desperately trying to stop their Banks from failing and saying he will 'do whatever it takes' to help. Well considering he and his Wall Street buddies caused the problem I think Europe is insisting he do it.

So, is there going ot be another bailout? They are talking about 2 trillion dollars, and still imposing austerity on the people.

One of them was asked today if they had looked out their windows and seen the people in the streets. The response was 'And how does that concern me'?? These people need a rude awakening. And I hope Geithner doesn't think he's going to get two trillion dollars from here to give to the Bankers in Europe.

Banks are going to fail. When Europe fails, which is going to happen because they are doing all the wrong things over there, and every economist there says it will, it will affect this country and banks won't let people take their money out at that point.

So, people have a right to save something before these Banks take what they have left.

[pacalo]

15. +1. This bank cares nothing for its patrons. Charging $5/mo. for debit use is greedy.

[ixion]

8. Are you advocating for the corrupt banks that CAUSED the serious depression?

[slay]

25. People have the right to take their money out of banks - it's their money

if the banks have the power to get people arrested for that - i suggest everyone fight back and take their money out of banks ASAP and move it to credit unions. let the cop who wants to arrest me for saying so come get me.

[glinda]

71. The %1 think that our money is all their money. This is the problem.

Everytime they donate to Conservatives, pay for tv Ads, pay for crap, they actually use "our" money. Corps will not survive without the masses.

[Divernan]

30. Just making Citibank "eat their peas" as per O's orders.

[SammyWinstonJack]

46. Love it!

:evilgrin:

[piratefish08]

35. why the fuck not? they've been running on the banks in reverse for over 20 years.......

seriously, no worries though.


a run on banks won't affect them. we'll bail them out again.

[cui bono]

82. Yeah, they've put a run on the country and all its citizens for a long time now.

I took my money out of WAMU when there were rumors about them failing. I didn't feel like waiting to find out if I was going to have to wait in line to get my money. I live off my savings when I'm between jobs and didn't want to find out I wasn't going to have access to it.

The manager got called over and she tried to talk me into staying. I told her it was too late that I was going to put my money into a credit union and that I didn't appreciate WAMU being so careless with my money. So I got a "cashiers check" for my savings amount and when I deposited it into my credit union I still had to wait 2 weeks for it to clear!?!?

[Devil_Fish]

87. maby you should have took it in cash. NT

[cui bono]

99. I'm not going to let people in my neighborhood of L.A. see me get a pile cash

and then just walk out and get in my car and drive away and get carjacked. Nope. Not going to take that chance.

And anyway, I don't think they can do that. I'm sure they don't actually have the cash on hand to cover all accounts. But in this day and age (that was what, a year or two ago?) why can't they wire it over in a day or two?

[TBF]

45. Yes. Time to tear the big banks down. nt

[Chan790]

50. It's more like organized targeted bank evisceration. It won't cause a depression.

It's a bank-run of-sorts, yes...but they only cause depressions when new deposits and new institutions don't replace the old. Crash Citi and deposit into your local Credit Union..a-ok. Crash Citi and deposit into your mattress...that's when the systemic problems begin.

As long as the people withdrawing their money from Citi deposit those funds elsewhere, there will be no financial-system collapse beyond the gutting that holders of common shares of Citi will take. New institutions utilizing the capital will replace the old robber barons...also system collapse doesn't occur because Citi isn't just allowed to borrow from the Treasury to make sure that its depositors will be made whole, they're actually obligated to do so...when they cannot pay those loans, they're declared insolvent, the FDIC takes them over & pays the eligible claims and the much smaller insolvent Citi will be sold whole or pieced to a competitor. Those funds from the FDIC coincidentally are paid from a fund the banks are forced to pay into in the form of premiums, that fund in-turn is replenished by the increase on premiums on deposited-funds by the community banks. (Credit Unions are covered in-parallel by NCUA. Both depositor-guarantors work collaboratively.) This is how the system is designed to work and the fact that it would be multiple simultaneous failings paired with a rapid ballooning of held assets by smaller institutions would cause short-term stress but not full collapse. This possibility is accounted for, it's the reason the FDIC has such a wide window to make depositors whole. (FDIC has 120 days to make depositors whole...while such payments are typically near-immediate, they have mo obligation to be.)

Done widely, as long as the people are depositing the funds into community banks or credit unions, the result in the medium and longer term is an organized cascading of assets away from Wall St and into the communities served by those institutions. Of course, shareholders of the behemoth banks do get wiped out but that is always the risk of stock-investment...wise investors and those that support the Occupy movement and Bank Transfer Day should be divesting those assets immediately anyways.

In this example, Citi acts as a stand-in for any other major bank. Could just as easily be Wells Fargo or Chase or anybody else. Bof A doesn't even need a Bank Transfer Day, they've already begun to teeter over the past few months.

Edit: Replaced factual error, noted existence of NCUA.

[Kaleko]

61. Exactly. It's a massive shift of the financial power balance, not a total withdrawal of funds.

If masses of people shift their money from the too-big-to-fail behemoth banks to smaller, local banks or Credit Unions, we will empower the 99% and teach the criminal class an unforgettable lesson.

Shift your bank balance on or by the 5th of November if you haven't done it already.
This is the next step for citizens of the US - concerted bank balancing action.

[Devil_Fish]

88. Thanks for the thoughtful reply.

[rbixby]

54. The idea isn't to create a run on banks in general

just the big commercial ones.

[RegieRocker]

55. That is B.S. your advocating the maintaining of the corrupt system.

If they take their money out of one bank and put it in another that isn't a problem.

[L0oniX]

59. I don't see a connection between banks and job growth.

[girl gone mad]

62. I thought the banks were solvent enough to withstand those types of events.

Remember the stress tests?

Are you saying that the stress tests were a joke and the banks are still massively undercapitalized? Hmmm.

You'll have to explain how breaking up zombie banks puts us into a depression.

[WinkyDink]

64. Why should Credit Unions not be patronised instead?

[cui bono]

85. Yeah, why not?

They aren't beholden to share holders who don't care about the customers. CUs are owned and controlled by the customers. They usually diversify their investments more and don't take the risks that banks do. And they have board members who vote on what they will do. And I believe they are elected by the members although I can't say I have ever voted nor do I remember getting any notice of such an event, but I might have gotten something in the mail about it and not opened it until it was too late.

They are usually more user friendly in that it's usually easier to get a loan and good rates from your CU and I think that is largely due to them only providing that to their customers. So it's kind of more like a mom and pop place than a huge international one.

CUs are also federally insured.

(LOL. I actually misread your question and thought you were asking why use CUs instead. So I changed my subject into an agreement of yours so that my post wouldn't go to waste. :) )

[Nostradammit]

72. Your true colors are showing.

[Selatius]

81. Bank runs are only a problem if people withdrawing their funds don't redeposit into a credit union.

Citibank would crater, but re-depositing the money into credit unions, as opposed to placing your cash under your mattress, prevents the money supply from shrinking and throttling the economy.

[pinboy3niner]

4. The Department of the Treasury once mailed me a check for $ .02

It was my federal tax refund, lol. I considered framing the check, but I cashed it, instead. Obviously, they paid far more in postage to send me the check than the value of the check.

Why finish it online? To me, it would be more satisfying to close out the account in person.

[Cirque du So-What]

36. Unless I could close out my account in front of a real 'company' person

I wouldn't get any satisfaction from closing it in front of some mid-level manager who has no actual power where forming bank policy is concerned and even less from closing it in front of a bank teller who probably doesn't earn much more than minimum wage. At any given branch, chances of 'sticking it' to an actual 1%er is quite low; they probably all fall into the 99% category with the rest of us (although some in middle management may be deluding themselves with the fantasy that they're in the top 1%). All my accounts are with a member-owned credit union, so I don't have any close-out business to conduct with any big banks, but I wouldn't gain any satisfaction from making a big production out of closing my account in front of a working-class person just like myself.

[dipsydoodle]

7. I'm lost here.

Why would anyone be arrested for closing their bank account ? Have I missed something ?

[Devil_Fish]

10. Good Question. You may have missed this:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x625173

But it does not answer your question.

[dipsydoodle]

17. Thanks to both you and Quantess below.

Yes I'd missed that.

Quite appalling. :(

[Quantess]

16. Check out this video from Daily Kos

http://www.dailykos.com/story/2011/10/15/1026740/-Breaking:-30-Citibank-customers-arrested-for-closing-their-account?via=siderec

[tblue]

9. It's easier than that.

Just go to whatever institution you prefer (local bank or credit union) and have them transfer the $$$ there. You don't ever have to phone or set foot in Citibank again. I used to be a teller. It's done all the time.

[Devil_Fish]

12. So you are saying that if I am a Citibank customer who wishes to close my account...

they would prefer I not come into the branch, but have another financial institution take the money out??? I guess that's one way to avoid a trespass charge, or what ever else BS charge they come up with like participating in a peasant up-rising or some such.

[pbrower2a]

68. Give others ideas

Remember -- Citibank doesn't want people to take out their accounts that the bank really thinks belong to the bank... eventually.

[eridani]

93. Are you sure that closes the account? They could keep the account open--

--add fees and start dinging you for insufficient funds, no?

[Jim Warren]

11. To extend the logic

we shouldn't be supporting the government which allowed the banks to get away with it either.

[eilen]

18. Who is the government serving? nt

[Jim Warren]

19. Was there a question there somewhere?

LOL

[Devil_Fish]

20. What does the government have to do with this? Free Market and all...

[Jim Warren]

73. Because the so-called "free market" is quite easily manipulated,

it's the nature of the beast if one is so inclined to win at any costs.

It is the job of good government to recognize and regulate against that.

[pinboy3niner]

23. Bad government Bad, Baaad government!1!!

When the government screws up, the response of Liberals is to fix the problem to ensure government works efficiently and effectively.

The GOP/Teabagger response is to kill the government--except for defense. "Drown it in a bathtub" remains their goal.

[Devil_Fish]

24. Divide and concure?.... This is not about Liberals v. tea baggers.

it's about 99% v. 1% every thing else is just camouflage.

[Jim Warren]

74. Pardon my being obtuse

I am not at all sure what you're going on about here.

[pinboy3niner]

77. I thought my post was pretty clear

I'm not at all sure what you're questioning.

[Jim Warren]

78. Very well then

I's guess that's as clear as it gets, lol.

[Dover]

21. Would you be transferring the account to, say, a credit union?

Or are you talking about withdrawing cash and getting out of banks altogether?

[Devil_Fish]

22. What would be the diffrence?

What if I wanted to put it under my mattress???

The reality is that in todays system, opperating on cash is nearly impossible so I would be switching to a credit union.

On a side note I have often thought about buying dimonds, keeping them in a small pouch and using them as currency.

[Dover]

26. The reason I asked is that it can be more difficult to withdraw cash

than to transfer funds to another bank. I believe there is a law that limits cash withdrawals to $10,000. I think the law was originally created to signal potential money laundering and other types of illegal activities...and probably to prevent bank runs. Not that you can't withdraw more, but I think it raises red flags and there may be hoops to jump through. I'm not sure because I've never tried to withdraw that much cash.

Bank transfers, on the other hand, are common when switching banks. So that wouldn't be an issue. You just set up an account at your new bank and then have your old bank transfer the funds to it.

Don't know a thing about diamonds, but if you are considering some other form of currency to exchange, maybe gold coins is a better option.

[dipsydoodle]

27. I have a feeling the same could apply to a transfer

unless the banks have different rules - this is on the subject of the $10000 limit / £10000 here in the UK.

Not sure how banks get round the transfer limits / anti laundering rules which I'm guessing must only apply to consumer transfers.

[Dover]

28. I don't think there is a limit when transferring from one account to a new one.

You can completely empty out and close your account at one bank and have them transfer to another. It's only when you want to withdraw cash (assuming it's over 10K) that there is
an issue. So lets say you have 30,000 dollars total at one bank. You can have them transfer all of that to a new bank where you have set up an account. BUT if you wanted to withdraw that as cash and then take it to the new bank to deposit (or put it under your mattress) there would be problems.

Logically speaking, interest rates are so low now (and CD's too) that there isn't much reason or incentive to keep one's money in the bank. But they'd love to invest it FOR you in various other things. The days of putting money into an interest bearing savings account and living off interest are over. Banks have no 'interest' in that (pun intended).

[dipsydoodle]

29. It was the investment arms which caused the debacle behind all this

which is why they're looking to separate consumer arms from investment arms here in the UK.

[Devil_Fish]

31. I bet you would. NT

[Dover]

32. You bet I would...what? n/t

[Devil_Fish]

39. Sorry, I miss read your post.

I origionally thought you said you would like to invest it FOR me instead of they....

[cui bono]

84. When I closed my WAMU accounts, one of them savings, it was a decent amount

and I got a "cashiers check", but when I then took it straight to my new credit union and opened my accounts there I was told it wouldn't clear for 2 weeks. I was surprised by that, seems crazy that they couldn't just wire it over and be done with it.

I don't think you can actually get cash immediately because they don't actually keep that much cash at the branch.

[Chan790]

52. Withdrawals over 10000 require the bank to fill out a form called a CTR.

CTR: Currency Transaction Report.

It's not difficult for the client, it just takes time and information. We need your ID, we have to document why you want 10,000 in cash or bearer instruments, your occupation and your employer along with a good deal of personal data, most of which we can autopopulate from the computer. It takes about 15 minutes to fill out, we then mail it to Bank Operations who keeps one copy, forwards one to the IRS, initiates an internal security review (the bank is responsible for reviewing past activity to determine if there is evidence for suspicion of money laundering) and if necessary forwarded to law enforcement. (Rarely. For obvious reasons, there are counties in US Border states, near primary ports of entry and a "special exclusion zone" over all of south FL where all CTRs must be forwarded to FBI...the concern there being international finance of terrorism, drug and human-trafficking trades.)

CTRs are fun because we have to make the form-data innocuous (by that, they mean the data must be accurate only to the level of non-scandalous but interpretable to reality and not-misleading)...I once had a client making a large cash deposit when asked for her occupation declared that she was a stripper and a prostitute as normally as if that were an every day trade. IRS will not accept prostitute, sex-worker or exotic dancer as an occupation so I had to write that she was a professional dancer same as if she were a ballerina. Same with the Dutch couple making the withdrawal to invest in her brother's cannabis cafe in A'dam...purpose listed as "business venture" was rejected so I had to re-submit it as "investment in coffeehouse in Amsterdam" (the fun part is that any proceeds cannot be repatriated...they're subject to automatic seizure under US law as drug-trade proceeds.)

Attempts to avoid CTR (asking for the withdrawal then deciding not to because of the CTR req. or intentionally withdrawing just under CTR limits) necessitate the filing of an SAR (Suspicious Activity Report) which is the same form except that there is no required data, we fill in as much as we can, we're not allowed to tell you we're filing and is always forwarded to law enforcement. SARs stay in your bank-file forever, go into an FBI database and getting more than 4 in your lifetime earns your file a human-eyes review from an agent assigned to a federal joint-taskforce of alphabet soup. Getting an SAR is the easiest way to insure that you have an FBI file. All withdrawals in excess of $5000 are at-least electronically-noted, the details documented in computer memory, in case of need of later review.

[Dover]

57. Thanks for explaining that. But.....UGH!

Well, if the cash is being withdrawn to give to an individual or business, and you know the
exact amount, then one way to avoid this is to have the bank make out a cashiers check to them.
But if the money is for yourself then I guess this wouldn't work.

For instance, if you buy a used boat or car through Craig's List and the person wants cash or its equivalent, then a cashiers check would probably be the way to go.

[Devil_Fish]

89. What about writing a check for say 9 grand for a down on a car or some such?NT

[Chan790]

96. There is no cash involved...

so there is no CTR required for the check writer. I don't know that many people who would accept a personal check that large from someone they didn't know very well...you might have to use an official check.

If the check recipient wanted to cash that check for $9K then make a withdrawal of $1001, bringing the total to $10001 withdrawn, there would be a CTR required. That's barring two other factors:
*First, either the check is drawn on our bank or the check recipient must have the funds available to cash the check against...we're not cashing a check drawn on a different bank for $9K for someone with $2,437 on deposit.
*Second, most banks require advance notice of large withdrawals. In this age of electronic finance and computers, we simply don't keep nearly as much cash in the building as people think we do or we used to. Most transactions are electronic and involve no cash so we leave most of the cash at the central repository and order it to the branch in anticipation of our cash-out needs...this is for robbery deterrence. A withdrawal of $10001 represents possibly as much as 1/50 of the cash on hand at a major intercity branch and 1/20 of on-hand for a suburban branch...which doesn't seem unreasonable until you consider that the vast majority of on-hand cash is $20-dollar bills or smaller. We usually had in my major downtown branch less than $100,000 in fifties and hundreds in the building and usually go through most of that weekly.

[formercia]

33. Diamonds are not a good choice.

It's a buyers market unless you have connections to the Diamond exchange as far as selling goes.

Silver is a good choice, since it can be kept in denominations suitable for a barter economy. You can purchase old US Silver currency, known as Junk Silver for just over Spot. It's available in large quantities, if you have the money.

Gold is good as well, but not for barter. Who is going to make change for a Troy Ounce Bar?

[MADem]

34. Diamonds, eh? Might be a bit tough to buy just a candy bar.... nt

[Cirque du So-What]

37. Yep

Might be tough finding merchants able to give you back a sapphire & two rubies in change.

[flobee1]

38. "operating on cash is nearly impossible"

Not really-I've been doing the majority of my business in cash for 4 years now. On rare occasions I have to buy a money order or do a prepaid visa, but the rest is cash only. And a local credit union is the way to go

[Devil_Fish]

40. My work pays me via direct deposit.

I've lived with out a bank account before. Cashing checks is a real bitch.

[Sanity Claws]

41. How do you have direct deposit without a bank account?

I really would like to know how to live without a bank account.

[Devil_Fish]

42. I have a bank account now. In the past when I did not, I was paid by check.

I had to take the check to the bank branch that my employer banked with had they had to verify the signiture card, and get my thumb print each time I cashed my pay check. My employers bank was about an hour drive from where I lived. It was a real bitch.

[pipi_k]

48. Aside from the difficulties involved

with the financial side of using diamonds, there is also a moral issue.

Unless you are positive those diamonds weren't mined in Africa, you would be supporting murder, maiming, and slavery associated with them.

[Chan790]

51. Well...the way the system is designed to work makes the difference key.

Pulling your cash and redepositing it elsewhere or into your mattress?

The design and setup of the FDIC and NCUA prevents the first one from causing a depression.

The second will cause a depression, if widespread.

I'd advise against the diamonds, their value is not fixed and makes that risky. Gold as well. Look no further than the bloodbath Donald Trump took last month accepting $176,000 in rent and security in gold bars only to watch the value recede.

[glowing]

43. Don't go with a large number of people.

[pipi_k]

49. Agree...I would guess

that those people arrested in the bank weren't arrested because they tried to close their accounts, but because they created a public disturbance.

But people don't want to admit that. It's way better (for their purposes) to imagine themselves as victims by ginning up the storyline.

[girl gone mad]

65. I've seen footage taken before, during and after the arrests.

Those arrested were not creating a disturbance. They entered peacefully and stood in line peacefully. When asked to leave, they attempted to do so peacefully, but many were locked inside the bank by security guards. One woman who had exited peacefully and was engaged in a peaceful conversation with a reporter outside the building was grabbed and dragged back into the building against her will by a security guard and several police officers.

[cui bono]

100. I think I just saw that woman on Democracy Now!

http://www.democracynow.org/

[Devil_Fish]

102. So, customers walking into a bank and waiting in line to close their accounts causes a public

disturbance. Got it.

[doc03]

44. I bank with a local community bank, always have n/t

[newspeak]

53. this reminds me of my mom dying last year

she had two cards, one with citi and one with chase. The citi card was about 1,000 and the chase over 10,000. I called both places to inform them my mom had died. Chase said just fax over the death certificate. citi bank on the other hand, i had to wait on the phone it seemed forever and then I got someone from india who put me on hold several times before telling me i needed an original death certificate sent to an address.

I didn't receive one call from chase, they just put in the request for monies due to the estate attorney; citi however, sent it to a collection agency who kept calling me. I told them that they'd get paid when the estate was settled and they offered to decrease the amount owed if I paid it from my own pocketbook. The first thing came to mind is that citi is shitty--crass and seemed hard up.

[Zax2me]

56. OMG! How hard is it to close an account?! This is just funny....

My God, I can't believe we need to hold 'how to close a bank account without getting arrested' seminar!

I'm not establishment/right wing enough to have a corporate megabank account, but if I did, I'm quite certain I could close it without getting arrested.
This is hilarious!
First, don't go with a large group and/or disrupt to show your 'protest' or dissatisfaction.
Dumb things could happen as it looks like it did here.

Oh, man, this is just fresh.

[RegieRocker]

66. Can you say Bank Run?

No that's right you can't. So if and when that happens are you going to be the last one at the bank to get your money? Going to wait until no one else is there? ROFLMAO

[JNelson6563]

58. They handled that in the worst possible way.

If those people had been allowed to walk in and close their accounts, w3e would have never heard about it outside of a blurb on twitter or whatever. But now, well there have been arrests and those who support the protesters are hearing about it and getting inspired.

The thing the 1% and their minions cannot fight is solidarity among the people. A sense of solidarity is certainly out there among the many far from the action with those at the heart of it. This is clearly demonstrated by all the additional protests springing up around the country, as well as the rest of the world.

More and more people are watching and getting involved. Daily more are inspired by all the pics and reports. Brilliant signs, 90+ year old protesters, unjust arrests, police brutality, certain stick-it-to-the-man icons stopping by to lend their support and on the list goes of inspiring moments that draw all of us who can relate.

Yes, the banks thought they'd flex a little strong arm and put the immediate kabosh on the notion of the little people showing them what's what. Nip it in the bud was likely the strategy. Well it failed.

Monday I go look into opening an account with a local credit union. I have very little of anything but if we all continue to join in, well we know only good will come of that.

Julie

[RegieRocker]

67. Yes they did. They are truly dumber than rocks.

[Devil_Fish]

90. I love your post. I am opening my credit union account on monday as well. NT

[L0oniX]

60. Move to a credit union ...they are non-profit.

[BeHereNow]

83. Exactly- that way you don't even need to go into your bank

Go in the credit union and write them a check from your bank account.
Voila! You'll be a new credit union customer and never look back.
If anything, you'll wonder why you waited to do it.
BHN

[WinkyDink]

63. But think of the INTEREST you'd lose! *snerk*

[reggie the dog]

70. i took all my money out of the bank to pay rent and buy food

i think i have about 100 euros in the checking account til the end of the month...

[Aerows]

75. Take your business elsewhere

and let them handle the transactions. All of this nonsense about "bank runs" just because you are sick of your financial institution is hogwash. Just open an account somewhere else and let them handle it. Easy as pie, and it gets your message across just as easily - your message being "I refuse to do business with you anymore".

[Trekologer]

76. If your goal is to hurt Citibank (or any other bank) taking your money out isn't the best way

As long as your account bears interest (as little at it may be), the bank is paying you for the use of your money. No, the way to hurt a bank is to not incur fees and pay off or transfer your loans (to your bank, refinancing with another lender is the same as paying it off). That takes their profit away.

[Devil_Fish]

92. if you keep you account, then they still get the swipe fee.

24 cents from the merchant every time you swipe. used to be 45 cents, but congress put a 24 cent cap. that's when BofA decided that a $5 monthly fee was in order. Fuck the big banks. let them fail.

[robinlynne]

79. if you leave 2 cents, you will probably pay huge fines for years.....

[burrowowl]

86. Usually there

is a short waiting period to see if any outstanding checks have not cleared, for savings there shouldn't be a problem, unless you pay your bills directly from them. Change your orders, etc.
Credit card, pay up or have an alternative.

[sfpcjock]

91. No, there was a demonstration nearby that Shitty Bank office, so...

somebody on the force was trying to make a name. I think you'll be fine (I hope). Thanks for doing it.

[Darth_Kitten]

94. How can one be arrested for closing an account?

I'm not getting how they can ever do that? :shrug:

[randome]

98. Because they were loud and confrontational.

Case closed.

[cui bono]

101. Evidence? n/t

[Devil_Fish]

103. They were not being loud and confrontational. NT

[TBF]

95. I have a credit union account that I haven't used much,

opened it a few years ago. We have a few different accounts that we use for budgeting purposes (my grandfather lived through the depression and always opined about keeping too much money in one place ... he even had a big safe in the basement where he kept quite a bit of cash on hand).

I'm going to move more into the credit union account. As for closing others, I think the OP is spot on - move your direct deposits and then close the account by mail when the balance is low.

[Shagbark Hickory]

97. Just deposit a check into your new account and mail in a letter to your old bank.

Like someone said, just don't show up with 20 of your friends and expect to be treated the way you want.