- Dec 28, 2004
- 18,903
- 1,184
exactly
i bet its less than .05 too.
Who does NOT have a bank account? Why not?
- Thread in 'General' Thread starter Started by villansfinest,
- Start date
exactly
i bet its less than .05 too.
- May 3, 2003
- 610
- 130
Can anybody who does not use a bank account describe to me what an average months of expenditures looks like and how you pay for them?
I guess opportunity cost makes sense to me, only from an accessibility perspective. Sure you could be earning .05%, but the convenience of being able to get your money from your shoebox is more valuable than the amount of time it would take to go to an atm in network, or branch location?
I'll admit my own previous example about not wanting to have a transaction show up on my statement, or have a check directly linked to my account was more for protection of my identity and security issues. But don't you WANT a paper trail for most transactions?
I guess opportunity cost makes sense to me, only from an accessibility perspective. Sure you could be earning .05%, but the convenience of being able to get your money from your shoebox is more valuable than the amount of time it would take to go to an atm in network, or branch location?
I'll admit my own previous example about not wanting to have a transaction show up on my statement, or have a check directly linked to my account was more for protection of my identity and security issues. But don't you WANT a paper trail for most transactions?
- May 3, 2003
- 610
- 130
Can anybody who does not use a bank account describe to me what an average months of expenditures looks like and how you pay for them?
I guess opportunity cost makes sense to me, only from an accessibility perspective. Sure you could be earning .05%, but the convenience of being able to get your money from your shoebox is more valuable than the amount of time it would take to go to an atm in network, or branch location?
I'll admit my own previous example about not wanting to have a transaction show up on my statement, or have a check directly linked to my account was more for protection of my identity and security issues. But don't you WANT a paper trail for most transactions?
I guess opportunity cost makes sense to me, only from an accessibility perspective. Sure you could be earning .05%, but the convenience of being able to get your money from your shoebox is more valuable than the amount of time it would take to go to an atm in network, or branch location?
I'll admit my own previous example about not wanting to have a transaction show up on my statement, or have a check directly linked to my account was more for protection of my identity and security issues. But don't you WANT a paper trail for most transactions?
- Jul 12, 2008
- 1,117
- 27
Originally Posted by MrDoeBoI
Originally Posted by biff lawson
Being about that life >>> Financial growth and security
Pretty much always kept it on hand no need for a paper trail
anyone have this picture in a larger size... more specifically 1280 x 800???
- Jul 12, 2008
- 1,117
- 27
Originally Posted by MrDoeBoI
Originally Posted by biff lawson
Being about that life >>> Financial growth and security
Pretty much always kept it on hand no need for a paper trail
anyone have this picture in a larger size... more specifically 1280 x 800???
ernesto4
Banned
- Dec 15, 2010
- 375
- 10
dnt trust them. with all the hidden fees and watnot
ernesto4
Banned
- Dec 15, 2010
- 375
- 10
dnt trust them. with all the hidden fees and watnot
- Jan 22, 2010
- 24,470
- 19,833
So YOU overdrafting and spending money you DON'T have is being burned? Wow...
- Jan 22, 2010
- 24,470
- 19,833
So YOU overdrafting and spending money you DON'T have is being burned? Wow...
- Dec 29, 2009
- 1,298
- 15
i work in a bank and let me tell you, if you are overdrawn it is YOUR fault that you wanted to buy McDonalds when you have a buck in your account. The interest rates for savings accounts are tiered, and yes saving accounts pay you crap esp. with .4% interest. Only people seeing pretty good interest is those with over $500k. Best bet is to go with an internet bank, they pay you about 1.15% on your savings regardless of balance.
- Dec 29, 2009
- 1,298
- 15
i work in a bank and let me tell you, if you are overdrawn it is YOUR fault that you wanted to buy McDonalds when you have a buck in your account. The interest rates for savings accounts are tiered, and yes saving accounts pay you crap esp. with .4% interest. Only people seeing pretty good interest is those with over $500k. Best bet is to go with an internet bank, they pay you about 1.15% on your savings regardless of balance.
- Jan 10, 2010
- 11,810
- 645
Explain
- Jan 10, 2010
- 11,810
- 645
Explain
- Dec 29, 2009
- 1,298
- 15
americanexpress.com. open a high yield savings FDIC insured as wellOriginally Posted by mondaynightraw
Explain
- Dec 29, 2009
- 1,298
- 15
americanexpress.com. open a high yield savings FDIC insured as wellOriginally Posted by mondaynightraw
Explain
- Jan 19, 2002
- 23,475
- 5,603
I have 3
- Jan 19, 2002
- 23,475
- 5,603
I have 3
- Jan 25, 2010
- 643
- 13
Its not being burned, but whatever it is, its definitely made so that they get as much as they can out of you when you overdraft, reordering the transaction. Thats why the feds made it so that the bank must give its customers the option to cover overages.
At one point banks said they didn't have the capability.
With cash you cant go negative. So turning off the ability to go negative and preventing a fee is good for those who use every dollar.
(not many people balance their checkbook, if they even have one)
But to answer the thread, I use banks to make bill payments, buy online and make card purchases.
- Jan 25, 2010
- 643
- 13
Its not being burned, but whatever it is, its definitely made so that they get as much as they can out of you when you overdraft, reordering the transaction. Thats why the feds made it so that the bank must give its customers the option to cover overages.
At one point banks said they didn't have the capability.
With cash you cant go negative. So turning off the ability to go negative and preventing a fee is good for those who use every dollar.
(not many people balance their checkbook, if they even have one)
But to answer the thread, I use banks to make bill payments, buy online and make card purchases.
- Mar 10, 2004
- 5,067
- 1,133
i just know people who dont trust direct deposit.
- Mar 10, 2004
- 5,067
- 1,133
i just know people who dont trust direct deposit.
- Sep 6, 2002
- 1,588
- 10
Banks are pieces of %@*#. There is one thing and one thing only that banks do and that is make money off of their customers. These corporations have been outed as laundering channels for criminals and drug cartels, I don't understand how any sane person can have an ounce of respect or loyalty towards them.
Not only has it been an absolute eye opening experience getting away from banks, it has changed my life for the better. You have the power to lead your life in the way you choose, don't feel obligated or dependent on these power and money hungry scumbags.
Not only has it been an absolute eye opening experience getting away from banks, it has changed my life for the better. You have the power to lead your life in the way you choose, don't feel obligated or dependent on these power and money hungry scumbags.
- Sep 6, 2002
- 1,588
- 10
Banks are pieces of %@*#. There is one thing and one thing only that banks do and that is make money off of their customers. These corporations have been outed as laundering channels for criminals and drug cartels, I don't understand how any sane person can have an ounce of respect or loyalty towards them.
Not only has it been an absolute eye opening experience getting away from banks, it has changed my life for the better. You have the power to lead your life in the way you choose, don't feel obligated or dependent on these power and money hungry scumbags.
Not only has it been an absolute eye opening experience getting away from banks, it has changed my life for the better. You have the power to lead your life in the way you choose, don't feel obligated or dependent on these power and money hungry scumbags.
- Jan 23, 2008
- 3,540
- 4,280
no.Originally Posted by zk1MPLS
True. And putting your money in a bank would help your credit score compared to it just sitting in a box gathering dust.
If you're not really spending the money at all, you can place your money in a time deposit, so you can earn some $$ while you sleep.
About the OD fees dude up there is right, its your fault for spending money you dont have. Let me say though its true that banks try and catch you slippin and hit you with ridiculous fees. For example whenever you use your debit card as credit (not using your PIN and signing for stuff) it generally takes a few days to process the transaction. But if the bank see's that you have $10 in your account and you just bought something for $20 as credit, they will push that transaction through the same day and bam,$34+ gone. Banks are shady like that but at the end of the day, balance your checkbook and you wont have any problems.
- Jan 23, 2008
- 3,540
- 4,280
no.Originally Posted by zk1MPLS
True. And putting your money in a bank would help your credit score compared to it just sitting in a box gathering dust.
If you're not really spending the money at all, you can place your money in a time deposit, so you can earn some $$ while you sleep.
About the OD fees dude up there is right, its your fault for spending money you dont have. Let me say though its true that banks try and catch you slippin and hit you with ridiculous fees. For example whenever you use your debit card as credit (not using your PIN and signing for stuff) it generally takes a few days to process the transaction. But if the bank see's that you have $10 in your account and you just bought something for $20 as credit, they will push that transaction through the same day and bam,$34+ gone. Banks are shady like that but at the end of the day, balance your checkbook and you wont have any problems.
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