I got away from "large banks" a few years back because of the sneaky fees and tactics ect. But I like having checking and savings so I use a small Credit Union. They don't charge me a dime for anything and offer lots of good services. I even moved my mortgage from the big bank to them. Having an account somewhere can be a good thing when applying for credit. It shows an ability "manage something". Savings accounts are good because you once you put some in, you have to go back to the bank to get it out, so your chances of keeping it in savings rather than spending it are better than if the money is in hand. When I get my paycheck, before I pay bills I always stick alittle in savings first because I believe that since I worked hard for it, I'm gonna "pay myself first"
Banks make obscene profits for their shareholders, and they nickel and dime us to death. $85 for a box of cheques. Fine print everywhere, transaction fees, exchange rate fees, right now the US dollar is sort of at par with the Canadian dollar, and I do a lot of transferring back and forth. But I end up paying at least 4 to 6 cents on the dollar regardless of whether I'm buying or selling, because of all their fees. It just never seems to be in my favour.
I wish I could do without banks. But it's a pretty convenient way of paying bills. I can't imagine taking cash to 10 to 20 different places every month.
So........... I'll just keep quietly grumbling, I guess!
man that sucks. I could live without one now. My employor does not do automatic deposit. I can use cash instead of card purchases. I cant get credit card now if i tried haha. i dont even want one. And i can pay my bills with a prepaid card. order online with a prepaid card. I honestly dont wanna be stuck in a world that its a must to have a bank account. i think they screw me over. Rich people with money in their account dont notice. But i am not rich so i notice when im being screwed. I am fighting with my bank now for being charged twice for things. its a scam
When my mom was a kid, people usually did not have bank accounts. Instead they got their money from the employer in cash at the end of the month. Then banks started to offer free accounts for private use. And people started to use them. And employers got used to paying people by bank transfer. And just when everyone had a bank account and the last employer said that they won't pay in cash anymore, banks started to charge for private accounts. I hate banks.
Pretty important if you want money. Many employers these days do direct deposit. You need a bank account to make debit card purchases. You need a bank account to apply for credit. Many companies these days do an automatic withdrawal on bill payments (meaning, if you don't have a bank account, they can't get money, and you'll be denied service).
waste of money what money does it cost? i honestly can't remember being charged by my bank. now if i bounce a check it cost me but my bank pays the company i wrote the check too and asks for there money back with interest seems fair. out side of that banks have never charged me.
they scammed me today. Im not gonna go into it. A long story. But i know what money i spend and when it comes out and what i put in.They charged me twice. Now they have taken away the "fee" but its not the first time. I am goin to close it. and Do it my own way
well i get a prepaid debit card. Like at walmart. you can load however much you want and call the places you wanna pay your bills at and used it just like a debit card. its like 3$ everytime you load it. 3$ a month. thats it
Since I've pulled away from Big name banks and use local small town banks I've not encountered the hidden fee's or problems others go through with Big name banks. Others swear by Credit Unions over banks.
It depends, unless you have to do eft payments and get paid electronically, not that important. Mostly banks are a waste of money, don't use one if you don't need one.
Banks levy bank charges or interest depending on what you have. You don't necessarily need one and banks make billions every year, so one less won't hurt.
Don't use banks unless they are no fee banks look up Charles shwab
its important and safe if your thinking about savings