Can you survive without relying on banks?

[Staples]

I've just had a bit of a barney with my bank regarding the timing of a direct debit. This is the latest in a series of issues I've had with them over the last few years.

Bottom line, I'd really like to tell them where to shove their "service" and the the way they provide it. I could move to another bank but I feel that ultimately they're as bad as each other.

Is it realistic to operate without the services of a bank? Do they provide any services that, realtically, we couldn't live without? Are there viable alternatives? (e.g credit union? Fagans pub?, etc) or would I just be forced to carry all my cash all the time?

Grateful for any views/advice?

 

[One]

If I were really rich I think I would need the banks ‘cos I wouldn’t hide my millions under the pillow or in the back yard, (or invest it all in property).

If I was really poor I think I would need the banks because I would need to get a loan.

In reality, most people get mortgages, student loans or car loans at some stage. We need to borrow, we need to safely save money, having a credit card is handy………….I can’t see how I could manage without a bank. But if there is a really rich man out there who does manage without using a bank, I would love to hear how he does it.

 

[Mpsox]

How do your employers pay you?
Is your morgage paid off?
Do you have a safe in the house to save your money in?

Credit unions provide many of their services via banks, eg if they write a cheque, it's drawn on the branch of a bank.

 

[ashambles]

But if there is a really rich man out there who does manage without using a bank, I would love to hear how he does it.

Safes, horses and dig outs (if I remember correctly) was how one Drumcondra based millionaire managed.

 

[Elphaba]

I've just had a bit of a barney with my bank regarding the timing of a direct debit.

Why don't you just cancel direct debit and pay whatever it is by cheque, quarterly or half yearly? You cannot rely on timing of a direct debit. I cancelled all my direct debits and pay everything by cheque. It requires more work but I am aware of every cent going out of my account.The only problem is if you do not pay by direct debit you are penalised with extra charges by some suppliers, i.e. sky charge a fiver

 

[Mpsox]

Why don't you just cancel direct debit and pay whatever it is by cheque, quarterly or half yearly? You cannot rely on timing of a direct debit. I cancelled all my direct debits and pay everything by cheque. It requires more work but I am aware of every cent going out of my account.The only problem is if you do not pay by direct debit you are penalised with extra charges by some suppliers, i.e. sky charge a fiver

only other problem is the govt charges you 50c for every cheque in stamp duty