Are you one of the minority that doesnt use a banking system?

After my expensive divorce a few years ago, I got rid of all debit and credit cards. My ex racked up a ton on the cards. Switched to credit union, best thing going, no minimum needed in accounts. I may eventually get a debit card again, basically it would be used like the OP needed for car rental or hotel security. I have no need for credit cards. I pay as I go.

Originally posted by NarrowGate

Originally posted by HabiruThorstein

Originally posted by Foxy1
So far I have saved money not having a bank. I just think it is strange that more people do not think so. There are to many hidden fees with banks and I think it strange that having a bank is "normal" according to society.

Is it a matter of convienence? most banks charge 12 dollars a month just for you to have a bank. so called handling fees just so you can swipe a piece of plastic instead of dishing out cold cash. Just think of the millions of dollars people give globally everyday on the 2 dollar atm fee for not using their banks ATM.

edit on 12-12-2012 by Foxy1 because: (no reason given)

In my case it's actually interest-bearing checking account, no fees (not much interest to be sure but better than nothing). I have yet to ever use the ATM feature past my allotted number of freebies per month so I never get hit there and have yet to need to buy checks, maybe never will. If I can't afford something I don't buy it so no bouncy bouncy fees, which is a bank's best friend. And it is a worthwhile convenience in my case as I do have a small rental property business, which I am typically paid by check.

Viewed properly, banks are a tool. Not everyone needs a power circular saw, not everyone needs a bank. For those who have use for a bank's services, being smart about how you do use it is paramount, just like operating a powered circular saw.

While I do not necessarily agree or disagree I must say that I like that analogy.

They can both cost you an arm and a leg!!!

Indeed they both can!

Glad someone caught that, thanks NarrowGate!

I used to have a bank, about three years ago I ditched it. My bank was awesome and my banker was amazing she would wave my fees or hold off any late fees if I made a mistake, she would transfer my money in real time. She knew my voice on the phone and could tell it was me when I called. When the bank screwed up my deposits she would do everything she could to fix it. Then she got transferred to another branch.... .

After that I was just an account number and they were screwing up left and right and I wouldn't have access to my money when I needed it. I paid every fee in the book plus they changed their policies and added even more fees. So I bailed on them.

Three years now, bank free and happy. I have a pay card from my employer so I don't need an account to cash checks. I have located the cheapest atm in town so if I need cash I pay the machine its $1.50 (i know the machine owners and am happy to pay this fee to them). And if I need a card for a transaction or for paying bills I use my pay card,

Remember people having money should not cost money. I understand a bank provides a service that rightfully deserves to be paid for but there is a point where it begins to blur with greed then eventually turns to straight robbery.

I don't have a credit card, but I do have a bank account. I would like to get rid of it, and barely use my check card. I really like to just get cash and make my purchases with cash. That way I know I have the money in my pocket. I don't have to check my account balance to make sure I'm good. Banks keep trying to cycle out cash, but we need to make sure that they don't win. Cash > bank use.

reply to post by HabiruThorstein


Dang. I had a feeling that was what you intended, but I was hoping I was being creative.

It was indeed a set up!

And they call me paranoid.....

reply to post by Foxy1


I do not use banks at all and I agree that I actually save money by not using them anymore. It does seem to be rather "alternative" still to not use banks and I do find that some things are more difficult without bank backing.

Having to get a money order makes sense when renting a vehicle. Most companies do not like to accept cash for things of that nature anymore.