Closing all bank accounts.

Neoni · 25 Jun 2009 at 12:05

Any problem in doing this?

Thinking of living without a bank account for sometime.. will it effect paypal/websites like that, or will i have to just update details...

Jez · 25 Jun 2009 at 12:08

Why on earth would you want to do this, where are you going to keep your money, and how are you going to get paid/pay people?

I dont see how it is actually possible to function without even a current account.

Neoni · 25 Jun 2009 at 12:09

Moses99p said:
Hi there,

The obvious question... why?

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But to answer your question - it's all good, as long as you update details/cancel standing orders/et cetera.

i have no debits anyway.. so i think its cool to do this...

Why? because all my work is paid in hand.. so i don't need one currently.

Steve2000 · 25 Jun 2009 at 12:09

Why on earth would you do this? How will you pay online? Where will money be held?

Is there actually a problem with you having one?

Rich_L · 25 Jun 2009 at 12:10

But..they don't cost anything to have

You could always put the card and cheque book in a drawer and pretend you don't have an account

Jock Dodds · 25 Jun 2009 at 12:10

Jez said:
Why on earth would you want to do this, where are you going to keep your money, and how are you going to get paid/pay people?

I dont see how it is actually possible to function without even a current account.

His occupation is listed as 'Student, Performing Arts.', that should clear things up for you.

Jez · 25 Jun 2009 at 12:10

Why though given that you can simply have a free current account? What are you going to do, carry hundreds/thousands of pounds in cash on you all the time? :confused:

Neoni · 25 Jun 2009 at 12:10

Steve2000 said:
Why on earth would you do this? How will you pay online? Where will money be held?

Is there actually a problem with you having one?

read above!

Dolph · 25 Jun 2009 at 12:10

You'll damage your credit history and open yourself up to the potential of serious investigation by the tax office etc.

The real question is why, what is 'cool' about doing this?

Neoni · 25 Jun 2009 at 12:10

Jock Dodds said:
His occupation is listed as 'Student, Performing Arts.', that should clear things up for you.

not a student anymore

McDaniel · 25 Jun 2009 at 12:11

The only problem is it is pretty stupid.

Jock Dodds · 25 Jun 2009 at 12:11

Neoni said:
not a student anymore

A full time hippy then? Bravo to you Sir. How will you pay your subscription to Greenpeace? I suppose they use the barter system.

Neoni · 25 Jun 2009 at 12:12

Jock Dodds said:
A full time hippy then? Bravo to you Sir. How will you pay your subscription to Greenpeace? I suppose they use the barter system.

No. mate, currently working up and down the country working for entertainment agencys, aswell as some freelance web design.

Neoni · 25 Jun 2009 at 12:13

McDaniel said:
The only problem is it is pretty stupid.

It'd only be for a while, not indefinately...

PiKe · 25 Jun 2009 at 12:13

Don't want to pay tax do we?

Wyrdo · 25 Jun 2009 at 12:13

Mattresses are not a good place to store money!

Neoni · 25 Jun 2009 at 12:14

PiKe said:
Don't want to pay tax do we?

Not the reason at all!

McDaniel · 25 Jun 2009 at 12:14

Neoni said:
It'd only be for a while, not indefinately...

Why bother then? It's not a cost to you to have one and makes paying for things much easier and more flexible.

Neoni · 25 Jun 2009 at 12:14

Moses99p said:
Hi there,

"Cool"? Oh yes, it's deeply edgy and alternative - where will you be purchasing your keffiyeh from?

It just seems like madness... standard bank accounts are free, and there are obvious benefits (and in today's society you kinda need a bank account to do many things... unless you're going to live off pre-pay Visa cards ).

I didnt mean cool as in hip, i meant i think its safe to do close the account.

yer_averagejoe · 25 Jun 2009 at 12:15

assuming your paypal account will still function without one, how do you expect to be paid for websites if someone doesnt want to pay you by paypal?

You'll be opening yourself up to a world of trouble with the tax man i expect.

just leave a fiver in your account and cut up cards if you're that bothered. If its BANKS that are the problem, look at getting co-op account or something.