Business Checks

Many people are still livid over the bailout of major banks and financial institutions over a year ago, and the over $45 billion in bonuses that these companies are poised to payout has only added fuel to the fire. Several organizations are calling for people to pull their money out of these banks and begin banking as local credit unions and small banks. While this may seem like a way to get back at the banks, the current system makes it difficult for this to be a reality.

Not only do the bigger banks offer premium services like online banking and the option to deposit in ATMs without check envelopes, but they also are a safer option. Most of these institution are still considered “too big to fail,” whereas over 140 small banks went out of business last year. Larger banks also have more ATM locations and tend to have fewer charges for international transactions. While it would be nice to get some redemption against the “fat cat” bankers, they have a stranglehold on how Americans manage their money.