Is it easier and less rip off to not have a bank account ??

Question

charges are stupid. my grandmother never had one, and she did just fine !! anyone who does not have a bank account ?/

Answer 1

Your Grandmother lived through a different time...during the great depression many people lost everything when the banks went broke & inflation /deflation ripped the value of the currency.

Try existing today without one ! We live in the computerised age of electronic transfers etc etc  & the cashless society is almost upon us .Most people are now paid electronicly ...the days of receiving a weekly paypacket with cash are long gone as well.

So I guess for most of us we have no option but to deal with the mongrels ! lol

Answer 2

i have often wandered the same, its c**p that we are charged for having our money looked after! answer to ur question is yes it probably would be easier not to have a bank account nowadays, as it is only the rich that continue to get richer cos the banks only pay them interest! us normal people with normal salaries being paid into the bank get no interest atall, in fact i think they charge ME interest!!

Answer 3

Many utility companies charge you extra if you don't pay their bill by direct debit.

Are you always going to shop with cash?

Could you do without your overdraft or credit card?

Would your employer be willing to pay you in cash?

No fees, no debts, no charges, no hassle but also no loans and no mortgages.

Your grandmother lived in a different age.

If you don't like bank charges then don't incur them. Set yourself a weekly/monthly budget and stick to it. Check your account regularly - internet an phone banking give you 24/7 access to your accounts so there's no excuses.

Answer 4

I actually need a bank account to send and recieve money, but if your just gonna use it to store money in and nothing else then its probably not worth it.

Answer 5

How are you cashing checks?  I found that check cashing places are ripoff as well.

As for bank fees, when I was starting out, I designated the bottom portion of my checking account "savings" (the minimum to avoid monthly service charges), didn't do overdrafts and did my ATM transactions at their location.  

Answer 6

if you take care of your account, you don't have charges (if you pick the right bank). some banks charge a fee if you run your debit card as credit instead of debit, so logically, don't use your debit card! or always run it debit (or vice versa. it depends on the bank). they charge if you overdraft your account, so don't overdraw your account! always keep it positive!

if want to save money, then you're stupid for not putting it in a bank. it's FREE MONEY when it earns interest!

the only reason that people have problems with their accounts is because they don't know how to manage their money.  

Answer 7

Many banks have fee free banking with minimal deposits along with free electronic bill pay.  

Answer 8

Get a bank account.  Your grandmother didn't live in a paperless, cashless society, which we are currently moving more and more towards (might not completely happen, but it's more likely than going back to a cash under the matress as a bank society).  Not sure how old you are, but when it comes time to accumulate assets like a house, car or any other substantial purchase or to start saving for the future, you'll need a bank acount and some sort of product that shows you have money coming in and money going out (showing the capacity to handle credit).

There are lots of financial institutions that don't charge for bank fees, depending on where you live.

Answer 9

These days it is very hard to do without a Bank Account, though certainly not impossible. One major stumbling block is that the majority of employers now will only pay direct into a Bank Account.

You would find it impossible to get credit without a Bank account.

Do you really want to keep your savings in cash under the mattress?

In your Grandmothers day people were paid in cash and were mostly expected to pay cash for any purchase.