Web Security: HTTPS Available from EFF (Chrome and Firefox)

March 3, 2012 9:13:52 PM

HTTPS Everywhere Keeps Your Personal Information Safe on Over 1,400 Sites, Available for Firefox and Chrome

lifehacker.com

Chrome/Firefox: HTTPS Everywhere is a simple extension that, with just a one-click installation, can seriously increase your security on over 1,400 web sites by encrypting your connection.
We've talked before about HTTPS, what it does, and why you should use it . Many sites, like Gmail (and Facebook, with caveats ) have options that let you browse with HTTPS always turned on, but the HTTPS Everywhere extension makes this simpler. Instead of turning it on for individual sites, HTTPS Everywhere will automatically routes all your data through a secure connection on any of its 1,400 supported web sites, keeping your information safe and away from prying eyes—in short, it's an extension everyone should have installed.
HTTPS Everywhere has long been a favorite of Firefox users , but today marks the first time Chrome users can get in on the fun, with a new beta version of the extension that quietly sits in your address bar and switches you to HTTPS whenever possible. The Firefox version has also been updated to 2.0, which adds a new feature called the Observatory which, when turned on, detects encryption weaknesses and will notify you when you're browsing a site with a security vulnerability. To read more about the new version of the extension and install it in your browser, hit the link below.
HTTPS Everywhere is a free extension, works wherever Chrome and Firefox do.
New 'HTTPS Everywhere' Version Warns Users About Web Security Holes | Electronic Frontier Foundation

Make Some Extra Cash by Selling Stuff with Amazon's Fulfillment Program

February 23, 2012 9:06:24 AM

How to Sell Your Excess Crap for Cash in Just a Few Hours with Amazon's Fulfillment Program

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Got crap? Want money instead? Amazon has a neat program that essentially lets you dump old books, movies, gadgets, and more in a box, send it to them, and then wait for the money to roll in. Here's how you can start using it and sell your stuff in no time.

How Does FBA Work and Why Should I Use It?

The name of the program is Fulfillment by Amazon (FBA). Although it is designed to let sellers with high inventory have sales, shipping, and customer support handled entirely by Amazon, you can use it too. The primary advantage of using the FBA program is convenience. You basically dump your crap in a box, tell Amazon what's inside of that box, print out a shipping label, and schedule a pickup request. The process generally takes an hour or two, unless you have more stuff than you could ever possibly sell, and if you've already got the box(es) you're going to use you don't even have to leave your home. When Amazon gets the box, they'll post all your items for sale on their product pages and people will be able to buy them. Amazon will ship the items out for you in their own packaging and handle any customer issues that may arise post-sale. For these services you pay a small storage fee, $1 for shipping and handling, and the commission you'd pay for selling on Amazon in general. Although this service is really great, there are a few downsides you should be aware of:

• It's not great for cheap items, such as used books or DVDs nobody wants anymore. Basically, if you can't sell your item for over $4 you probably won't make much money using this service. When you add items to your inventory, however, Amazon will tell you what you'll make when/if the item sells so you'll know before you send it in.
• Not every item is sellable through this service. While you can generally add anything you could sell yourself on Amazon.com, sometimes Amazon will require certain packaging to be present so they can more easily add it to their system. Basically, if you're missing a bar code or ISBN you might have trouble adding it to the system—but this is not always the case.
• Although the process is really easy once you get started and you understand what you're doing, it's a little cumbersome at first. If you get annoyed easily or are just in a bad mood today, you might get a little frustrated. You've been warned!

If that all sounds good, you're ready to get started.

Okay, Sold! Now How Do I Get Started?

Before you can start the selling process, you're going to need to do the following:

1. Assuming you already have an Amazon account, sign up for an Amazon Seller account . Just click "Sell Your Stuff" and skip the professional option—it costs money.
2. Add FBA to your seller account .
3. Go get some boxes. (Or have a few delivered .)
4. Get all your excess crap together and grab your computer.

Once you've done all of that you're ready to get started.

How to List Your Items with FBA

Every time you use FBA, you have to manage your inventory by boxes. If you're only sending Amazon a single box of stuff, this is very easy because you only have to manage one box listing on FBA. If you're sending multiple boxes, you have to simply create a new box every time you fill one up with crap you want Amazon to sell for you. This method is used so the Amazon employees that unpack your boxes and stick them on the shelves for sale will be able to easily and efficiently find the items you have listed. Just follow these steps to create your first "box" and fill it up with inventory:

1. Sign in to Amazon Seller Central (if you haven't already) and hover over the Inventory menu. A few options will drop down. Choose Add a Listing.
2. Enter in the name of the product you want to sell and click Search. (Alternatively you can enter its UPC, EAN, ISBN, or ASIN if you know it.)
3. When your choices appear, select the correct one by clicking the Sell Yours button.
4. The next page looks a little more complicated, but the only things you need to fill out are the item condition, the price, and the quantity. If it isn't already selected, you'll also need to tell Amazon this is an FBA item. You do that by selecting the radio button next to "I want Amazon to ship and provide customer service for my items if they sell." When you're done, Click Save & Finish. (You do not need to click next, as those other options are reserved for people with professional accounts.)
5. If you're a new seller, Amazon will probably present you with a page that's asking you to make sure you're not selling anything hazardous, prohibited by law, alive, is capable of killing someone, and so on. (You know, nothing fun.) Click the Send Inventory button to move on.
6. On the next page, you'll need to let Amazon know where the items are shipping from. Most likely, this will be your default address and it will be filled in for you already. If you need to change it, however, just click the Change Address button to do so. Second, you'll need to tell Amazon you're sending them a bunch of items in one box. Right now you probably have the Individual Items option selected, but you need to switch that to Case-Packed Items. You'll notice this changes the inventory list below and there are a couple of fields to fill in: Units per Case and Number of Cases. If you're selling one book, you'd just fill in the number 1 for both of these. If you were selling one six pack of soda, you'd enter 6 units per case and 1 number of cases. If you were selling two of the same DVD, you'd enter 1 units per case and 2 number of cases. Got it? Click continue.
7. Amazon will now use your address to find the closest facility. I'm in Los Angeles, so I was assigned to PHX3 (Phoenix, AZ). You'll now be asked to name your shipment. FBA will automatically provide you with a generic name, which you can keep if you want or change it to something more interesting (like "Magic Pony Surprise Shipment"). Once you've settled on a name, click Save & Continue.
8. If that was all your were going to ship, you'd be done creating your box—but you're not. To continue adding more of your crap, just follow these steps again. When you get to step 7 (the previous step), however, you'll now be able to choose Add to an Existing Shipment rather than being forced to create a new one. Just choose the shipment you've already created for your previous items to keep them all bundled together.

How to Ship Your Boxes

When you add an item, be sure to add it to the box it's going to be shipped in—or at least keep all the items grouped together—so you don't lose track of which item belongs in which box. Once you've got all your boxes done, there's just a little more work to do to get your items to Amazon:

1. After adding your last item to a box, you can click the Work on Shipment button to start the shipping process. Alternatively, you can always find your FBA shipments by choosing Manage FBA Shipments from the Inventory menu. You'll find the Work on Shipment button next to any unfinished boxes on the resulting page, too.
2. After clicking the button, look over your shipment to see if there are any last-minute changes you want to make. If not, click Save & Continue.
3. You'll now be taken to the item labeling page where you can print out labels for all of your items. Do that, attach the labels to your items, and click Save & Continue.
4. Now you get to pick the size of your shipment and the carrier you want to use. Choose SPD because you're not shipping much. LTL is for shipping pallets that are at least 150 lbs. That better not be you. On the other side of the screen you want to choose Amazon-Partnered Carrier (which is usually UPS). This will let you buy a label from Amazon at a discount and have the carrier come pick up your stuff. You can choose another carrier and ship everything yourself, but we're going to assume that you want the easiest possible method. When you're ready to move on, click the familiar Save & Continue button.
5. It's packing slip time! Choose how many packing slips you want to print. You're going to need to put one in the box, but you might want to keep one for yourself because, you know, who doesn't love a packing slip? Enter the number you want to print, click the Print button, and pack it in your box along with everything else. This time, when you're ready, just click Continue. (There is no need to save!)
6. On the next page, enter the dimensions of your box and its weight. If you can't measure the weight exactly, use this method and round up. Click the Save button (this time you don't have to continue) and then, once your information has saved, click the Get Cost Estimate button.
7. The resulting page will give you a shipping estimate and ask you to agree to be charged for that amount. Agree and then click Accept Charges & Continue.
8. Print your label, stick it on the box as instructed, and schedule a pickup with the carrier (or just drop it off at a shipping store/facility)

Although there are a lot of details necessary to get everything in order with FBA, once you've finished your first box you'll get the hang of it and will be able to breeze through the process. If you want to sell a bunch of your stuff, you can do it much faster and without the headaches that often come with online sales by using this service. Once Amazon receives your shipments and sells your items, you'll be able to transfer all the money you made right into your back account. It's very useful and a great way to get money for crap you don't want without much effort on your part.

How To: Resist Rising Food Prices (CPI)

February 21, 2012 4:45:04 PM

How to Resist Increasing Food Prices

www.mint.com

Once your start tracking your spending and living on a budget, unmanaged food and dining expenses often reveal themselves to take a large piece of the pie. Spending money on quality food is part of a healthy life and for many Americans, dining out is a form of leisure and a break from cooking and cleaning.
Did your income increase by 4.8% last year? Food costs did, and according to the United States Department of Agriculture (USDA), you will see an additional 3.5% increase in 2012. The best way to avoid budgeting hiccups from increased food prices (without succumbing to a life of extreme couponing or Ramen noodles) is to plan for food price increases before they become a budgeting issue.

Avoid Trading Down Traps

Eliminating eating out altogether is one way to avoid restaurant food cost increases, but given current diner demand, that shift is not entirely realistic. In its report Demand for Food Away From Home , the USDA estimates that if incomes rise by 1% annually through 2020, spending at full-service restaurants will increase nearly 15 percent by 2020.
While your budgeting instinct may be to choose mass market restaurants that offer "kids eat free" and "buy one, get one free" style offers, remember that "chain" doesn't always mean "cheap."Restaurant expert, Bill Marvin, says chain restaurants are two to three times more profitable than independent operations and Nation's Restaurant News expects that Buffalo Wild Wings, Olive Garden, Red Lobster, Longhorn Steakhouse and Texas Roadhouse may all increase menu prices by at least two percent in 2012.
When you're striving to eat out on a budget, identify the number you're willing to spend, including tip, before you ever choose the venue. Check out menus online beforehand and consider the true cost of the meal, including the gas money you'll spend driving there, wait time, food quality, experience and whether portions are large enough to share or take home. Avoid restaurants that require sides to be ordered a la carte and limit dining in steakhouses when you're on a tight budget, as the USDA reports that beef prices are up as much as 10% this year, thanks to droughts.

Don't "Read" the Menu

Just as stores arrange merchandise to entice impulse buys , "menu engineers" configure items and name dishes creatively to draw you to the most profitable dishes. Featured dishes that are placed above the midline and to the right of the page are typically higher-priced items that the restaurant wants you to order. A recent study by San Francisco State University Professor, Sybil Yang, also revealed that diners tend to read the menu like a book, first selecting an entrée and then building a "meal story" around it, complete with appetizers, dessert and drinks. To stick to your budget, identify a single item you would like to order and then put the menu away.

Use Social Media

Restaurants commonly offer Twitter, Facebook, Google+ and FourSquare users opportunities for savings or a free menu item if they participate in a social media exchange or sign up for periodic emails. Connect with your favorite venues online to find savings. If you live in one of its participating cities, Restaurant.com may also offer as much as 50% off on select eateries.

Profit From Buyer Remorse

Daily deals can be a gateway to unnecessary spending but when it comes to dining out, deal reseller sites can be a great way to unearth savings. Sites like CoupRecoup and DealsGoRound allow you to buy someone else's unwanted impulse daily deal buy, often for less than the original deal cost.

Use credit cards strategically.

You probably know that using a rewards credit card is a good way to get a little money back for your spending (only if you pay it off in full, of course) but Odysseas Papadimitriou, CEO at CardHub, also suggests "the island approach" to maximize savings. This strategy involves using a couple of different rewards cards in tandem. For example, if you dine out frequently, use the card that rewards the most for that activity but use it exclusively for dining out. If you've identified a separate card that rewards top dollar for grocery purchases, use it every time you're at the grocery store.

Don't pay for packaging.

Many rising food prices are unavoidable but you still can control exactly what you're putting your money towards. Explore alternative ways of shopping that will ensure you're paying for quality food, versus packaging, marketing and fuel costs. Natural foods chef,Amanda Skrip, suggests buying grains, beans, flours, nuts, seeds and dried fruit in bulk bins. If you need a small amount of a spice you rarely use, buy a pinch from the bulk aisle versus wasting money on a whole jar that will go unused.
Skrip also recommends being flexible with your produce selections; in-season, local items will be more affordable due to higher supply and lower fuel costs. Dairy, meat and produce sold through local, organic co-op and community supported agriculture (CSA ) groups are another alternative to overpaying for a lower quality product at the grocery store. Check out LocalHarvest.com to search for groups near you and find links to online suppliers.

2012's Highest Paying College Majors

February 17, 2012 10:46:40 AM

Best College Majors by Salary

www.mint.com

While some go to college to expand their mind and cultivate themselves, others have a far more mercenary goal in mind: They just want to make money. There's nothing wrong with either choice. However, the reason you choose to go to college will impact what major you decide to take. If you're looking to make a lot of money right out of college, these are majors you should look into. All figures are from PayScale.com.

Engineering

The data is clear: When you want to make a pile of money, you go into engineering. Seven of the ten top-earning majors are engineering majors, with all of the top six being engineering majors. The best-paid engineering majors are petroleum, chemical, electrical, materials, aerospace and computer engineering. Petroleum engineers start at about $97,000 per year and are making $155,000 by mid-career. The lowest-paid engineers in the top ten are nuclear engineers, who start at a paltry $65,000 and only early what entry-level petroleum engineers make by mid-career. Still, engineering isn't for everyone: You'd better be very good at math if you decide to make this your vocation.

Physics

In seventh place overall is physics. Physicists come out of college earning a respectable $49,800 per year, and are making a handsome $101,000 per year by mid-career. This is another place where you're going to have to be good at applied mathematics to even get through college, let alone make a career at. Still, for the person interested in working with their mind and their hands, this can be a a great choice of major. It can also be a good choice for those who want to teach, though graduate study would be required to teach at the college level.

Applied Mathematics

It goes without saying that this is another major where you need to be good at math. Mathematicians work in a variety of fields, including alongside many of the engineers and physicists mentioned above. It's common for mathematicians to work for the federal government at places like the National Institute of Standards and Technology and NASA. Mathematicians start out making about $52,000 per year but are earning around $98,000 by mid-career.

Computer Science

Different from computer engineering which deals with hardware, computer science is the discipline dedicated to computer software. It's probably not too surprising that computer science majors are among the top earning majors in the United States, or that they are highly employable. As the world increasingly becomes plugged in at all times (think mobile technology and the apps boom), computer science majors might not even need employment in many cases — they might be able to get by just by freelancing or by making their own products and selling them directly to the public. Computer science majors start out earning just over $52,000 per year and are earning $98,000 per year by the time they move into mid-career.

Economics

You've probably noticed a pattern by now: Virtually all of the top paying college majors require a lot of math. Economics is no exception to this rule, but it's probably the closest thing to a humanity that we've seen on the list so far. You'll definitely be reading a lot of stuff that isn't math when you pursue an economics degree, but you're also going to be crunching a lot of numbers. Still, it doesn't take an economics major to figure out that making $47,000 a year once you get out of college isn't bad and earning $94,000 annually at mid-career is nothing to sneeze at, either.

Statistics

Statistically speaking, people who are good at math earn more money than people who aren't. Statistics is a fascinating area of study and, like economics, resembles a humanity in some ways, specifically philosophy. In statistics you'll learn not just how to create statistical projects, but also what different types of statistics actually mean. The discipline is about a lot more than math — it's about learning what numbers say about the world we live in. Entry-level statisticians earn $49,000, with mid-career professionals making $93,000.

Picking A Major

No one is suggesting that you do something you hate for the sake of earning money. However, if you have any interest in the above areas, they're worth considering as majors. It will certainly help you pay off your student loans faster.

February 17, 2012 9:49:04 AM

Bruce Schneier's Liars and Outliers: how do you trust in a networked world?

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Bruce Schneier's Liars and Outliers : how do you trust in a networked world?

John Scalzi's Big Idea introduces Bruce Schneier's excellent new book Liars and Outliers , and interviews Schneier on the work that went into it. I read an early draft of the book and supplied a quote: "Brilliantly dissects, classifies, and orders the social dimension of security-a spectacularly palatable tonic against today's incoherent and dangerous flailing in the face of threats from terrorism to financial fraud." Now that the book is out, I heartily recommend it to you.

 

It's all about trust, really. Not the intimate trust we have in our close friends and relatives, but the more impersonal trust we have in the various people and systems we interact with in society. I trust airline pilots, hotel clerks, ATMs, restaurant kitchens, and the company that built the computer I'm writing this short essay on. I trust that they have acted and will act in the ways I expect them to. This type of trust is more a matter of consistency or predictability than of intimacy.
Of course, all of these systems contain parasites. Most people are naturally trustworthy, but some are not. There are hotel clerks who will steal your credit card information. There are ATMs that have been hacked by criminals. Some restaurant kitchens serve tainted food. There was even an airline pilot who deliberately crashed his Boeing 767 into the Atlantic Ocean in 1999.
My central metaphor is the Prisoner's Dilemma, which nicely exposes the tension between group interest and self-interest. And the dilemma even gives us a terminology to use: cooperators act in the group interest, and defectors act in their own selfish interest, to the detriment of the group. Too many defectors, and everyone suffers — often catastrophically.

Liars and Outliers: Enabling the Trust that Society Needs to Thrive

Bank Switch Kit & Checklist - Make the Move to a Credit Union

February 17, 2012 11:10:08 AM

Bank Switch Kit and Checklist

www.consumerismcommentary.com

With Wells Fargo changing their policies to be less consumer-oriented this week, I've received several questions about the logistics switching banks. In previous decades, closing your account at one bank and opening an account at another was a simple process. All that was required was to walk into one branch, ask to close your account, provide some proof of your identity, take your cash or cashier's check to a different location, and open a new account with your deposit.
With automated banking, direct deposits, and pre-authorized electronic withdrawals and online bill payments, taking your business from one bank to another can be a hassle. There is a financial risk involved; if you neglect to change your banking information with a vendor, your payment could bounce, and you could be subject to late fees, insufficient fund fees, and perhaps even cancellation of your services.

If you've taken a modern approach to banking, with automated and electronic payments, you'll need to start planning in advance. Here are the priorities, if you've already chosen your new bank. To compare banks, read through the reviews available here on Consumerism Commentary, but also consider your local community banks and credit unions.
Download the Consumerism Commentary Bank Switch Kit to help you organize the information you'll need. The link is at the bottom of this article.

Step 1. Open the new account with appropriate minimums.

Before you can change the account information stored with companies that bill you, you'll need to have your new bank's routing (ABA) number and your new account number. For a short period of time, both your old bank account and your new bank account will be active. This ensures that all your payments go through and all your deposits are received during the transition period. Determine which types of accounts you need at your new bank, and have the minimum required to open the accounts ready to deposit.
If you had debit cards, ATM cards, check cards, deposit slips, or paper checks with your old account, don't forget to order the same when you open your new account.
Download the Bank Switch Kit for a convenient way to keep track of your new banking information.

Step 2. Change your direct deposit information.

It could take as many as two pay periods for your new direct deposit instructions to take effect. It could take two to four weeks after requesting the change to your direct deposit before you receive a pay check at your new bank. Most employers have their own forms for submitting changes to direct deposit, but I've included a generic form in the Bank Switch Kit that most human resources should be able to accept. Many employers have the ability to accept direct deposit instructions online, so check with your employer as soon as possible.
This is the slowest aspect of moving from one bank to another, so start as soon as you've opened your new accounts.

Step 3. Adjust your automated bill payments.

If you're living in the twenty-first century, you've likely configured many of your monthly financial obligations to withdraw money from your bank accounts. You'll need to change this banking information one vendor at a time without missing any possible automated withdrawals. Review your past three or four banking statements to help your recollection of all the bills that are paid automatically. Here's a list of some of the most common bills that allow automated payments from your bank accounts.

• Your rent or mortgage.
• Your power bills (electricity or gas).
• Your telephone bills (land line and mobile phone).
• Your water and sewer bills.
• Your property taxes.
• Your income taxes, if you have enrolled in the Electronic Federal Tax Payment System (EFTPS) or your state's electronic payment system.
• Your car, home, and life insurance.
• Your other insurance payments.
• Your credit card bills.
• Your payments to student loans.
• Your payments to car loans.

The downloadable bank switch kit has a checklist where you can indicate the date you called to have your banking information changed. When you call, email, or complete this change online, make sure you know when the changes will take effect. Most of the time, the change is immediate, but if you have a payment already pending using your old bank account's information, it might not be until the following month that the vendor applies the new banking information.
If you've opened your new bank account with just the minimum required to avoid fees, keep in mind that you may need to transfer more money from your to cover your bills.

Step 4. Update any linked bank accounts or investments.

The ability to begin investing using automated bank transfers has helped many people begin to save for retirement — or the future in general — without having a large sum to devote to the investment immediately. It's easy to forget about these investments and transfers. I have had a weekly $15 transfer from my primary checking account to another bank's savings account for years, and it would be easy to forget this without reviewing my transactions each month. Updating information regarding your linked accounts serves two purposes:

• to ensure your accounts don't try to send money to or withdraw money from the account you intend to close, and
• to ensure you don't miss any saving or investment opportunities as you rearrange your bank accounts.

First, as mentioned above, link the new bank account to your old bank account to ensure you can transfer money to your new account at will. This will ensure you have enough funds in the account to cover all the bills you've transitioned in the previous step. Keep in mind that savings accounts are limited to six on-demand withdrawals per month. If you exceed that number, the bank may charge you fees or close your account before you're ready.
Pay attention to your automated investments to your IRA , transfers to your high-yield savings accounts , and investments to your kids' education funds. Download the Bank Switch Kit for a complete list of possible linked accounts.

Step 5. Wait and close your old bank account.

After you've taken the time to ensure that your old bank account has been inactive and will not expect any new deposits or withdrawals, follow your bank's process for closing your account. In most cases, you can walk into any branch with proper identification for closing your account, but in some cases, banks require you call a telephone number. If that is the case, they might want you to talk to a "retention specialist" who will do his or her best to keep you from closing your account, perhaps by offering you a better deal than you may be receiving. It's best to ignore these offers and stick to your resolution.
If you are required to close your account by phone or by mail, the only way you may be able to receive your deposited money is through a check sent to the address your bank has on file for your account. This is an imperfect process; it would be much better to walk into a branch and walk out with your money. It would frighten me if I had to close a bank account with a significant sum of money and wait for a check for the amount to arrive in the mail.
Once you've received the check, make sure the bank has provided the full balance. Your balance at the end of the statement or online should be zero. Ensure you've received any accrued interest your account would have earned. In some cases, you may need to time the closing of your bank account to ensure you don't miss on any substantial interest that might be due to you if your bank does not accrue interest on a daily basis.
The Consumerism Commentary Bank Switch Kit available for download includes a generic letter you may send to your bank in order to close your account.

Step 6. Destroy old forms.

Shred any debit cards and deposit slips associated with your old account once you receive confirmation that your old bank has closed your account. Get rid of your paper checks and any endorsement stamps that you may have that include your bank number.
With this step, you can celebrate the moment you are now free from a relationship you are better off without. Don't forget to monitor your new account and your bills closely over the next few months to ensure you haven't missed anything. If you find a problem quickly, you may be able to resolve it without needing to pay any penalties (or have penalties reversed if they are charged automatically).

Download the Bank Switch Kit and Checklist Here

Download the Consumerism Commentary Bank Switch Kit(version 1.0α, February 14, 2012). Adobe Reader or another program that displays and prints Portable Document Format (PDF) files is required.
This is a work in progress. Please feel free to share your feedback. I'll continue to revise the Kit to improve it for more consumers who wish to leave one bank behind in favor of another financial institution, whether a national, regional, or community bank or a credit union.

Visual Guide to the Cost of Love - Infographic

February 14, 2012 6:44:32 PM

Love is a Costly Thing: A Visual Guide

www.mint.com

A loving partner is a gift in and of itself, but what about when that gift comes with debt and secretive spending? A marriage not only unites two people for an eternity, but it also brings together past debts and and financial stress. This visual infographic explores how debt and money secrets affect relationships, as well as how to avoid future financial heartache.

February 11, 2012 11:26:08 PM

How Do I Switch from My Bank to a Credit Union?

lifehacker.com

How Do I Switch from My Bank to a Credit Union?

Dear Lifehacker, I'm thinking about switching from my bank to a local credit union. What should I be on the lookout for when I make the switch? Is there anything I should know ahead of time, and how do I go about making the change?

Signed,

Fed Up With Big Banks
Photo by Paul Baker .
Dear Fed Up,

We know what you mean. Saturday was Bank Transfer Day , and even though Bank of America backed down on its debit card fees , many people are just sick and tired with their bank for whatever reason, whether it's high fees, poor customer service, or something else. Credit unions do offer a member-supported, smaller alternative that can provide competitive interest rates on savings accounts, loans and mortgages. Credit unions are also well known for great customer service. That said, there are a few things you need to know before you jump ship.

Things to Check Out Before You Switch

Choose the Right Credit Union for Your Needs . Before you pick a credit union, think about what's prompting you to change. We've talked about why you should switch in the past, but consider what's making you do it. If it's lower interest rates on credit cards, car loans, or mortgages, make sure to check out those rates before you sign up. If it's customer service and low fees that you're interested in, make sure to talk to your friends to see where they've had positive experiences. Compare the financial products between the credit union you're looking at and your bank. Make sure you're really avoiding fees, and the credit union's interest rates are actually better for you.
If it's convenience you're after, see if your employer or any local government or public organizations in your community have credit unions with open membership, or membership that you're eligible for. Many credit unions have opened their doors to the public, but there are still plenty that only allow employees of the patron organization and their families to join. Previously mentioned NerdWallet and credit union finder A Smarter Choice can both help you find a credit union based on your preferences.
Photo by NASA Blueshift .
Find a Credit Union That's Convenient . One of the drawbacks to switching to a credit union is that you give up the idea of having a branch on every street corner or an ATM almost anywhere you go. Most credit unions have a handful of branches in select regions, and their customer service lines are often staffed with real people, which means you might be stuck with limited phone support hours. That won't make much of a difference if you do most of your banking online and use your credit or debit card for your purchases, but it can definitely be a pain if you need a cashier's check or need to walk into a branch for services.
If you find yourself stopping by your bank a few times a month, or even once a month, don't choose the credit union with no branches or ATMs within 50 miles of your home or office, even if it comes recommended by friends. Many credit unions participate in ATM networks like the Co-Op Financial Services network and the Alliance Onenetwork so patrons can use any ATM in the network without paying fees to get their money, which can give credit union patrons access to more ATMs than any commercial bank. The same applies for branches—many credit unions share branch locations and allow you to bank with partner credit unions at any partner location. Unfortunately, even though these networks exist, it will be up to you to find them once you're a customer. You'll have to do your homework to find out where you can go to access your money without paying for the privilege.

How to Make The Switch

Ask for a "Switch Kit" to Make the Transfer Easy . Since credit unions thrive on the patronage of their members, and in most cases are more than happy to help you make the switch from a big bank, many of them have pre-made "switch kits" to help. They usually include all of the forms, identification requirements, and other paperwork you'll need to take to your old bank and fill out for the credit union to make the transition as smooth as possible. Even if they don't have a kit, they likely have some kind of package to make setting up a new account and getting your pay deposited and bills charged simple and easy.
Make the Change On the Phone or Online . With the exception of identification requirements, you can sign up for and set up accounts with most credit unions online. You can also call the credit union's customer support line and let a banking rep walk you through the process on the phone. Many credit unions go out of their way to make managing your account online easy, partially as a way to account for limited hours and fewer branches. It works in your favor though: it means you can do ACH transfers, apply for a personal loan, or open a new account at any time of day, whenever you think to do it.
Photo by m.prinke .
Remember Switching Banks is a Process, not a To-Do . As tempting as it may be to stroll into your bank, flip your bank managers desk, demand your money, and give them a piece of your mind, it's a bad idea. Switching banks is a process that can take several days, especially if you have automatic bill payments and automatic deposits set up. Consider taking out just enough money to get your new account set up while you transfer your automatic deposits and payments to your credit union account. This way, if something unexpected happens and a bill you forgot about tries to hit your old account, you won't be hit with an overdraft fee or penalty, and you don't run the risk of the the bill's issuer complaining to you that they haven't been paid.
Once you're confident that all of your automatic payments and deposits are headed to your new account—usually after a month or so of paying attention to your old and new accounts—you can withdraw the last few dollars from your bank and bid them a not-so-fond farewell.

After Switching, Get Involved to Make the Most of Your Experience

Credit Unions are generally not-for-profit, and they're always member-owned, but remember, they're still in this business to make money and stay afloat. They may introduce changes and fees that may not be popular, and it's up to you to speak up when you're unhappy. Thankfully, when you bank with a smaller organization, the decisions that you make matter more and you have more room to negotiate with banks on interest rates, lines of credit, and other changes. If you get a letter in the mail saying your credit card's interest rate is going up, a few phone calls or a well written complaint letter will usually set them straight and get you back on track. Also, because you're a member and a customer, you're just as responsible for the health and well-being of the credit union as you are entitled to stellar service and competitive financial products.
We hope that helps. There are pros and cons to switching to a credit union from a big bank, but speaking as someone who has accounts with both, I'm far more likely to go to my credit union for a car loan or a mortgage than my regular bank. Once you've experienced the difference in personal attention and customer service, you may actually grow to like your bank. If it's the financial products that matter to you, you'll enjoy the competitive rates and low fees that a credit union has to offer. As long as you go into the switch aware of what you're giving up in exchange, you'll be fine. Good luck!
Love,

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