To close your account with a large bank, you’ll need to follow these steps:
Choose a community bank or credit union.
Open an account and wait for new checks and debit/credit cards to arrive.
Shift any automatic monthly transactions and direct deposits.
Transfer the majority of your money - Your new institution can help you decide the best method for you.
Close your old account - Ask about their policies and get written confirmation.
Detailed information and tips on moving your money:
Guide to Getting Rid of Your Big-Bank Checking Account (New York Times)
How Do I Move my Money Out of a Big Bank? (Mother Jones)
What's the best way to move my checking account to another bank or credit union? (Consumer Financial Protection Bureau)
Move Your Account Checklist (Bank Local)
If you’ve closed an account at U.S. Bank or Wells Fargo, let everyone know why. Here are some ideas of ways to get the word out once you’ve gotten your money out:
Post your story on social media, tag your former bank, and use hashtags like #NoDAPL and #DivestFromDAPL. Selfies or videos with a NoDAPL sign make a great visual, and you can also post directly on any social media pages for your old bank.
Add your money to the divested funds tracker at DeFund DAPL.
Send a letter to your old brick-and-mortar bank. Use our sample script below as inspiration, or create your own message using talking points from Honor the Earth.
Write an op-ed for your local paper.
Call the executive officers of your old bank.
Script or letter when closing your account:
“[I am writing to inform you that] I will be withdrawing all my funds from [name of bank], and closing my accounts as an act of solidarity with Indigenous communities committed to stopping the Dakota Access Pipeline.
[Name of bank] is one of a group of banks that loaned a combined $10 billion to Dakota Access and other companies involved in the pipeline’s construction - investing [amount] in the pipeline. As a customer of [name of bank], I do not want my money helping support [name of bank]’s investment in the Dakota Access pipeline - a dangerous and unjust oil pipeline that violates both sacred and treaty lands of the Standing Rock Sioux and threatens air and water quality on their land.
I urge [name of bank] to give up its financial stake in the Dakota Access pipeline immediately.
Because over half of the loans provided by various banks are still on hold until the Army Corps grants the final permits for the pipeline, there is still time for many banks involved to cut their line of credit to help stop the construction of the pipeline and end the violence against the water protectors at Standing Rock.
Until [name of bank] takes action to acknowledge the impact of the DAPL on the Standing Rock Sioux and end its investment in the pipeline, I will encourage others to withdraw their money and close their accounts from [name of bank] as well.”