Don't forget to move all your money from BAC. I'm moving my checking, savings, Merrill Edge and 401k.
I'm done with this bank for good.
4 replies (most recent on top)
As the old adage goes - Never put all eggs in 1 basket.
Employed or not - just make sure you keep your accounts, 401k, and Investments separate. Last thing you want is the company sniffing around your finances which they have no business to begin with. Keep that policy a personal one.
Not only did I move my 401k and all other activity (bank accounts, credit cards, etc.) so did my immediate and extended family members and several friends. It's really amazing to see the public backlash BAC is getting from all of this negative publicity and layoff approach. I hope it doesn't last too long because I'd like to see the stock go up a bit more before I unload the last of that too.
Unfortunately if you take severance package and opt for installment payments you remain "actve" on the payroll and not eligible to move 401k until classified as severed completely. ..at least that's what ML told me when I tried to move mine. I don't necessarily believe this to be the case of course as severence pay does not qualify as contribution funds so I need to find out more info for sure.
Yes, that is a day zero activity. Just waiting to pull the trigger.