To get out of debt you have to stop your money leaks, seemingly small expenses that add up to big money over time.

Bank fees have always been money leaks, but now that big national banks are gouging their customers for more and more cash (like the recently announced $5 monthly fee that Bank of America will be charging debit card users) those leaks are turning into blowouts.

Piling on to their tone-deaf attitudes, bankers are paying themselves record bonuses after getting bailed out by the taxpayers.

So the smart thing to do for many is to move their money away from big banks to smaller local institutions and credit unions. And this movement is gaining steam.  So much so that November 5th is designated “Bank Transfer Day” and Americans are encouraged to send a strong message that they won’t be nickel-and-dimed to financial death.

You can check out a Facebook event page dedicated to BTD here.

But there is a downside to acting on emotion when it comes to your money. For many people, big banks actually save them money. This is especially true for frequent ATM users who may end up paying for every transaction when they’re out on the town or traveling and their small bank or credit union doesn’t have the coverage of the big boys.

Big banks can also offer more services like smartphone apps and online tools.

But for basic checking and savings, most people would be better off going small.  Would you? Will you? Leave a message in the comments.