610,000 switchers cite ‘Bank Transfer Day'

Nov. 5 was designated as “Bank Transfer Day.” So what was the result?

THE NEWS TRIBUNE

Published: 02/07/12 12:05 am

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Nov. 5 was designated as “Bank Transfer Day.” So what was the result?

According to a recently released study, about 610,000 U.S. consumers jilted their existing bank and hooked up with a new one between October and December, specifically citing “Bank Transfer Day” as their reason.

That’s roughly 11 percent of the 5.6 million people who switched banks overall during the three-month period, according to Pleasanton, Calif.-based Javelin Strategy & Research, which tracks the financial services industry.

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