More Americans opting out of banking system

[SEE3772]

http://m.washingtonpost.com/business...8f9_story.html

[Little Stevie]

Oh Boy! Another single-issue conspiracy theorist I can put on "IGNORE".

[Randy4Candy]

Hmmm, what are they "opting" into, payday loans? Or are they just doing the Mitt and moving it all offshore?

[i'va biggen]

All his money is there wish he had gone there to watch it.

[Sensia]

I closed my bank accounts with one major big bank about a year or so ago and went with a local CU. No fees, and I don't have to worry about excessive fees from them.

In the readers comments I agree that there are people who wish to remain "off the grid". I know folks who keep their money in coffee cans, and hidden in their house somewhere as they no longer trust banks. That is a hard way to live though since everything is geared toward "credit" and having an actual bank account.

[CJ7]

CU guy here too ..

[Sensia]

Originally Posted by CJ7

CU guy here too ..

I have come to appreciate the local CU's.

:-)

[CJ7]

Originally Posted by Sensia

I have come to appreciate the local CU's.

:-)

+1

take dividends paid on a savings account for instance

[IIFFOFRDB]

Originally Posted by SEE3772

http://m.washingtonpost.com/business...8f9_story.html

Do you realize what a honor it is for Steven to ignore you.

[CuteOldGuy]

How can I get Stevie to ignore me? I'm tired of his caffeine-laced, incoherent tirades against common sense.

[Guest032516]

Originally Posted by Little Stevie

Oh Boy! Another single-issue conspiracy theorist I can put on "IGNORE".

I call this post a "SEE3772 Special".

A title, a link, and nothing else.

[dilbert firestorm]

Originally Posted by CuteOldGuy

How can I get Stevie to ignore me? I'm tired of his caffeine-laced, incoherent tirades against common sense.

tell him, "eye luv ya" and give him a big smooch and a whipping.
maybe he'll put you on ignore.

[dilbert firestorm]

Originally Posted by CJ7

+1

take dividends paid on a savings account for instance

they're (savings account dividends) are not really worth it, unless you them in CDs which are a little bit better than savings account.

[dilbert firestorm]

Originally Posted by Sensia

I closed my bank accounts with one major big bank about a year or so ago and went with a local CU. No fees, and I don't have to worry about excessive fees from them.

In the readers comments I agree that there are people who wish to remain "off the grid". I know folks who keep their money in coffee cans, and hidden in their house somewhere as they no longer trust banks. That is a hard way to live though since everything is geared toward "credit" and having an actual bank account.

you can do that, but I guess the fun is in finding it after the person dies.

I remember reading a story about an elderly woman who passed way and was discovered to have socked away 700,000 dollars hidden in the walls and under the bed. I don't remember how they found it, might've been a renovation thing when it was discovered.

[BigLouie]

Total NON-STORY. People are leaving the traditional banking system because of the reason they are leaving land-line phones. A change in technology. People can now have part of their pay sent directly to their investments like 401(K) and the rest into a CU or Pre-Paid debit card thereby bypassing all the fees associated with a normal bank. It is simple as that and nothing sinister.