Do you really need a bank?

Get rid of the cards

On the average, most people owe credit card companies thousands of dollars. People pay the least amount on each card; they hope that one day it will say - paid in full. Nevertheless, if they are ready to get out of debt, they should try to get rid of the cards. They can contact a free (or almost free in some cases) service called Consumer Credit Counseling Services. They will help with counseling on how to get rid of the cards and eventually pay them all off completely. Even those who have several credit cards can free up their lives.

Live on Cash

You can learn to live on cash and with a pre-paid debit card. You can live without the use of a bank. Most employers today will deposit your paycheck directly into a pre-paid account. All you have to do is set one up and give the account number to your employer.

One of the best things about a pre-paid debit card is that you only use the money you have, and there is no interest to pay out. Green dot cards can be purchased at either Walgreen’s or Wal-Mart. It is easy, fast, and cheap. The money you put on the card is available to you in as little as 15 minutes. You can use these cards just as you would use any other credit cards, except that the money you have to spend is limited to what you have on the card. Therefore, if you put $500 on the card, when you have spent $500, that is it, you cannot go over that amount. Some people would see this as a restriction to them and others would see it as saving money, because you are not charged overages or any fees other than $3 a month for the service. The only drawback to not using a bank is when you receive a hand written check. Wal-Mart will not accept it. It has to be printed from a computer. In addition, if you regularly have any checks that are over $1500, they will not take those, so in that case it would be better for you to stay with a bank.