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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!!!