Author Topic: unbanking and underbanking (Read 567 times)

Marlelar · « **on:** March 26, 2013, 10:16:19 PM »

How to break up with your bank

I like the idea of underbanking for many reasons.

Marsha

PerEvangelicaDicta · « **Reply #1 on:** March 27, 2013, 12:17:54 AM »

Such a great article. It was linked on Lew Rockwell (yes, I know, very libertarian site, but superb articles with intelligent heads up information)
I didn't think to post the link here, Marsha - thanks for your wisdom to share with others.

Iuvenalis · « **Reply #2 on:** March 27, 2013, 12:53:13 PM »

Underbanking = overcharging

You'll just get hammered by fees.

I've read numerous 'return to the land' catholics and really, this is what we should strive for where possible.

If you're an urbanite or suburbanite, you'll just be handing more of your labor (paid in dollars) over to the moneyed interests, delaying the time when you can buy and own land to create some subsistence and be less reliant on cash.

Reliance on cash = reliance on banking. One leads to the other. Remaining reliant (exclusively) on cash but trying to not be reliant on banking is foolish and self-defeating.

Marlelar · « **Reply #3 on:** March 27, 2013, 04:15:20 PM »

Quote from: Iuvenalis

Underbanking = overcharging

You'll just get hammered by fees.

What kind of fees are you talking about?

At my credit union everyone pays the same fees for the "extras" like certified checks regardless of their balance.

I don't think it would really be possible to be completely free of "banking" in our society but I still think that minimizing our interaction, and limiting the amount of money we let "them" hold is a good idea. I want to avoid the problem the Cypriots are having:

"A central bank official said Cypriots would be allowed to withdraw no more than 300 euros ($380) a day."
full story here

Marsha