Happy Bank Transfer Day -- not for some

Nov. 5, 2011 at 12:31 PM

NEW YORK, Nov. 5 (UPI) -- Saturday is "Bank Transfer Day," an event big banks will likely loath, a Harris Poll concluded.

Early reports said tens of thousands of customers indicated they were primed to move their funds from behemoths of finance to credit unions, which are non-profit institutions, the survey company said in a statement.

"Customers express their loyalty through their actions, but the underlying motivation for these actions is rooted in the degree to which the bank connects with its customers on both a rational and emotional level," Harris said.

In a poll of 2,463 adults conducted online Oct. 10-17, Harris found members of a credit union were three times more likely than Bank of America customers -- 74 percent compared to 25 percent -- to indicate they had a trustworthy relationship with their bank.

Bank of America recently retracted a plan to impose a $5 monthly fee on debit card accounts, so "perhaps some banks are beginning to listen to customer dissatisfaction," Harris said.

Related UPI Stories
Latest Headlines
Trending Stories
Nobel Prize in Chemistry awarded to DNA cell repair pioneers
Priest suspended after defending pedophilia in TV interview
U.S. asks how Islamic State militants got so many Toyotas
At least 17 dead in Carolinas, more flooding expected
NASA releases thousands of Apollo mission photos on Flickr