People with no bank accounts

[Deleted member 77746]

There's a lot you can't do without a bank now, it's part of life.

 

[Tom_ed1987]

I know some older people without bank accounts. To be honest they cope just fine. They just have a more simple (arguably better in many ways) way of life.

 

[Deleted member 77746]

I know some older people without bank accounts. To be honest they cope just fine. They just have a more simple (arguably better in many ways) way of life.

Ditto

 

[chroniclard]

My grandad hated banks, would never have an account, always carried cash all his life, always got his pension in cash. Anyone in the family needed a loan/cash they went to grandad. When he passed away(fu covid) his house and shed were full of hidden tins with cash in. Old notes, old coins, much of it no longer in circulation, decades of hording.

 

[touch]

1.3 million adults don’t have a bank account.

Another thread about this? What's your obsession with people who don't have bank accounts?

 

[subbytna]

They can just click a button and your account and all your money is suddenly unavailable to you. That's why cash is king. Cash is freedom. I pay by card for stuff, but always have cash too.

 

[Feek]

Another thread about this?

I merged the two threads.

 

[Hagar]

So how does she get it from the bank to the bedroom?

Gosh that is an old post. I can't remember.

 

[Grim5]

Not everyone who pays cash is doing so because they don't have a bank account.

What's cash?

 

[krooton]

The problem with bank accounts and direct debits etc is its very easy to lose count of the money you're spending.

I'm very strict on what I spend, and do 100% of transactions via the bank or cards. I haven't used cash since 2008.

But £50 on a screen is easier to spend than £50 in bank note('s).

Eh? Card transactions are fully itemized, I can see what I spent, when, and with who going back years.

To do that with cash transactions I would need to keep log in a spreadsheet, lol.

People choosing to not keep on top of their transactions is the problem, not the method itself.

 

[mcast123]

If you can't use a card because you're losing track of your spending, you have far more serious issues. HMRC dodgers, old people and the poor are the only people that use cash.

I simply cannot imagine living without a bank account today, mainly due to the work involved.

 

[Semple]

It's not just the spending element either. Most jobs these days will require a bank account to pay your salary into.

 

[GGizmo]

People choosing to not keep on top of their transactions is the problem, not the method itself.

I know this might be a contraversial thing to write. But I'd say a significant percentage of people do struggle with being unable to keep on top of their transactions.

It is an easier transaction to make typing in digits on a screen than it is to pay in cash.

It's also not wise to only rely on one method of payment. If the banking system gets cyber attacked then thats game over for the non-cash people.

 

[Hades]

Not everyone who pays cash is doing so because they don't have a bank account.

Indeed. My local chippie, kebab shop and barbers all insist on cash. I wonder why. Hmmm.

 

[Thekwango]

HMRC dodgers, old people and the poor are the only people that use cash.

wrong.

 

[krooton]

I know this might be a contraversial thing to write. But I'd say a significant percentage of people do struggle with being unable to keep on top of their transactions.

It is an easier transaction to make typing in digits on a screen than it is to pay in cash.

It's also not wise to only rely on one method of payment. If the banking system gets cyber attacked then thats game over for the non-cash people.

People who pay in cash would still normally draw that from ATMs/their bank accounts, unless you are advocating people keeping ALL their cash at home, lol

 

[Hagar]

Old people, those with pensions do need a bank account to pay their pension(s) into. It is useful if you are on a budget to go shopping with a tenner or maybe twenty quid and keep to that spend. A debit card and you will often make spur of the moment purchases.

 

[GGizmo]

People who pay in cash would still normally draw that from ATMs/their bank accounts, unless you are advocating people keeping ALL their cash at home, lol

If they have a bank within a reasonable distance. A lot of ATM's put a charge on for making a transaction.

If your bank was DDOS'ed for over a week there is a chance you wouldn't be able to buy anything, or even access your money, for that period.

I'm advocating retaining two systems.

 

[rhobbyh]

I've heard that ex Leeds and Blackburn midfielder David Batty was (still is?) unbanked. Presumably the chairman just turned up at his house on a Friday with a wheelbarrow full of cash.

 

[krooton]

If they have a bank within a reasonable distance. A lot of ATM's put a charge on for making a transaction.

If your bank was DDOS'ed for over a week there is a chance you wouldn't be able to buy anything, or even access your money, for that period.

I'm advocating retaining two systems.

I have 4 accounts with 4 separate banks, plus crypto if things get really hairy xD