“Bank Transfer Day” won’t gain much traction, says Bill Mahnic

Things to remember if you plan to move your money on Facebook-created Bank Transfer Day

NewsNet5: Bank Transfer Day is a Facebook movement encouraging people to move their money out of big banks and into credit unions, but Bill Mahnic, associate professor of banking and finance, expects fewer than 2 percent of bank users to do it. “You have vested time and financial interest in your relationship with your bank, and I think it takes more than a couple small fee increases to get people to move,” he said.