New ask Hacker News story: Ask HN: Is it still possible to live without a bank account?
Ask HN: Is it still possible to live without a bank account?
2 by jacquesm | 2 comments on Hacker News.
In the 60's and 70's wage earners were lured to deposit their wages in bank accounts because they were 'free' and made payments more convenient. It also reduced the chances of theft from the payroll and in general seemed like a great idea. Fastforward 60 years: it seems to me as though it has gotten to the point that operating without a bank account is neigh-on impossible, especially for businesses. Which has - predictably - led to one rate increase after another, especially with interest rates near zero banks need other sources of income or they won't be able to make their 'quarterly earnings targets', which are apparently somehow set in stone and shall be satisfied come what may. So, I'm wondering: is it still possible as a private individual to operate without a bank account? What about doing so as a business? Is anybody here doing this?
2 by jacquesm | 2 comments on Hacker News.
In the 60's and 70's wage earners were lured to deposit their wages in bank accounts because they were 'free' and made payments more convenient. It also reduced the chances of theft from the payroll and in general seemed like a great idea. Fastforward 60 years: it seems to me as though it has gotten to the point that operating without a bank account is neigh-on impossible, especially for businesses. Which has - predictably - led to one rate increase after another, especially with interest rates near zero banks need other sources of income or they won't be able to make their 'quarterly earnings targets', which are apparently somehow set in stone and shall be satisfied come what may. So, I'm wondering: is it still possible as a private individual to operate without a bank account? What about doing so as a business? Is anybody here doing this?
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