Anyone ever gone bankless?

[Zeke]

I lost my checkbook. I don't know when I've done that. The account is 17 years old. Had to close it with the understanding that they'd pay a couple of scheduled direct payments coming up in the next couple of days.

I'm thinking of not going in and opening another account. There's a credit union a little closer and I could drop a little money in there to pay the very few bills I take care of (soon to be down to just one, the house).

I do some direct debit purchases, but I could always use cash. And I should. I use the CC for Amazon purchases, but I bet they'd take a DD card.

What do I need a bank for?

Gonna cancel the hard line phone any day now. I'm just wondering if it will come in handy in the near future. I'd hate to pay all the fees to reestablish it. There's a hard line in the house that is for my wife. I have a cell. All I get is telemarketers. Can't see paying 35/mo. to hang up on them.

But, let's get back to banks. I know a CU is really a bank; I wonder if I even need that? Except maybe for the DD card. Do they do that?

Note: I pay a lot of the existing bills with MO's.

[Hugh R]

I have a credit union with Disney, they are excellent, the personal service is top notch. I maintain like $100 in an account with a bank for a safety deposit box.

[Superman]

I haven't banked with a bank in at least two decades. I use a CU. Debit card or cash for everything.

I also don't have a land line, or cable TV. Life has gotten uncomplicated for me, and my happiness has increased.

[Zeke]

Originally Posted by Superman

I haven't banked with a bank in at least two decades. I use a CU. Debit card or cash for everything.

I also don't have a land line, or cable TV. Life has gotten uncomplicated for me, and my happiness has increased.

Yea-aah buh-uddy. Shall we start a Gruppe?

[944Larry]

Credit Union Zeke, the only way to go. Although the banks are lobbying congress to get rid of them.

[motion]

Why drop your bank for a CU? I don't understand what the difference is. Don't they both offer essentially the same service? I rely very heavily on my banks' online services for bill pay, transfer money between accounts, wire transfers, etc. I doubt your local CU can compete with that.

[masraum]

I've been using just a credit union for years. I think you could totally unplug, but you would have to be willing to make some sacrifices. These days so many things require a credit card.

[Zeke]

Originally Posted by motion

Why drop your bank for a CU? I don't understand what the difference is. Don't they both offer essentially the same service? I rely very heavily on my banks' online services for bill pay, transfer money between accounts, wire transfers, etc. I doubt your local CU can compete with that.

My bank does not offer an online billpay service such as Bof A does. I go to the site where the bill is generated. However, as I said, 2 CC's are about paid off and the phone is about to go. My wife deals with the utilities, etc.

Originally Posted by masraum

I've been using just a credit union for years. I think you could totally unplug, but you would have to be willing to make some sacrifices. These days so many things require a credit card.

I'd keep a card. Mine aren't tied to a bank account. I just shredded my debit card. I'll take my old checks to the bank that had the account for destruction.

So what sacrifices would I endure by moving over to a CU?

[nota]

FEES
the credit unions have very few fees
and can do most bank things
and most pay more interest to you
and charge less o loans

[dan88911]

You're in Big, big,big trouble now. You just wait and see what them banks are going to do . And how do you think all the rest of us are going feel left paying all them fees.

[944Larry]

Originally Posted by nota

FEES
the credit unions have very few fees
and can do most bank things
and most pay more interest to you
and charge less o loans

Exactly right! I have every card I had at the "Big Bank", I have a debit card and I can still pay bills online. Everything is cheaper as a CU is considered a non-profit so costs are less.

[krichard]

Originally Posted by motion

Why drop your bank for a CU? I don't understand what the difference is. Don't they both offer essentially the same service? I rely very heavily on my banks' online services for bill pay, transfer money between accounts, wire transfers, etc. I doubt your local CU can compete with that.

Actually, I've had the same credit union since '94 and haven't used a bank since. My credit union has online bill pay, wire transfers, iPhone app that I can take a picture of a check and eDeposit, I can transfer between the 6 different accounts I have and any other accounts I link to with them, their loans for personal and business use always have rates far below the banks I've shopped them against. I have tried and cannot find any bank that comes close to competing with their services. Oh and did I mention that the only service that costs me a cent is wire transfers? RBFCU.org check them out.

[chapo]

Credit union is the way to go. Have my business account at Wells. They are awful. CU's are not for profit. Best rates on loans, car insurance, etc. CU's usually do not offer business accts.

[aigel]

Originally Posted by krichard

Actually, I've had the same credit union since '94 and haven't used a bank since. My credit union has online bill pay, wire transfers, iPhone app that I can take a picture of a check and eDeposit, I can transfer between the 6 different accounts I have and any other accounts I link to with them, their loans for personal and business use always have rates far below the banks I've shopped them against. I have tried and cannot find any bank that comes close to competing with their services.

+1

The difference is that a CU is not stock traded and doesn't need to make a profit. You can save a lot of money switching to a good CU.

G

[74-911]

Originally Posted by krichard

RBFCU.org check them out.

Exactly the same experience. I closed my last bank account and joined RBFCU in 1969 upon arrival at Randolph AFB..... I don't even live in that area anymore, I just do everything via the internet.

Credit unions are virtually everywhere and the membership requirements are essentially can you fog a mirror. Many years ago membership was limited to certain groups, i.e military, teachers, etc...

[vash]

i've gone money-less in a bank..does that count?

[Zeke]

NuVision just built a stand alone office near me. I have to join some credit counsel since I don't belong to any of their numerous groups (no job — retired). Anyone heard of these folks?

[Rick V]

I joined U.Va. credit union about 15 years ago and have never looked back.

[Porsche-O-Phile]

C.U. +1

I have accounts with two, including Disney/Partners, which is fabulous and has always treated me well. My only regret is they have no presence in my current area. The local CU I use day-to-day here is quite good also. No nickel-dime fee structure, personal service, no B.S. I'm actually thinking about applying to be on their B of D (I've been asked to apply).

Any dollar of mine that doesn't go to a B of A, Chase, Citi or Wells Fargo is a good thing...

[GH85Carrera]

I dumped my bank 20 years ago. I love the credit union. My debit card get a daily workout. I can easlily download my transactions right into Quicken. I can balance my checkbook in 30 seconds. I can pay any bill on line. I split the cost of my dad's big 80th birthday part with my brother. I did the on-line bill pay and they just mailed him a check and no cost to me. I did not even have to put the postage on it.

Banks suck.