Bank free

loneranger

Hi all, I hate the thought of being held to ransom by banks and would love to know if it is possible to have a bank free life like we used to have.Remember the times when wages were paid weekly with money and you could sort out everything into separate cocoa tins for bills ,food etc? Well is it possible to go back to those times? At least then I was only 'broke' on Thursday instead of for a whole week at the end of the month! so if you work for an employer can you insist on money paid to you any other way than through a bank, also other bills,can they be sorted without a bank? LR.

Edinburghlass_2

You'll find it more expensive to pay your bills with cash, apart from being time consuming, than with direct debit as all large companies add on a premium or take it off which ever way you look at it, for using the direct debit method.

I would also be inclinded to say that the Farepak method of saving for Christmas used by many people as the old way of doing it has just proven that their money would have been safer in a bank.

Not very consumer savvy as promoted by MSE

Astaroth

It is down to individual employers to decide if they are willing to pay cash or insist on paying into a bank account. Most employers will want to pay by bank transfer as it is cheaper for them, quicker, easier, less disputes, cheaper insurance (particularly for offices which otherwise have no cash on site, insurance rockets if they have 500 peoples salaries in cash on site every last friday of the month) etc.

Of cause you could just have a basic account with no debit card, no overdraft, no direct debits etc and simply withdraw your salary in full the day it goes in every month.

As others have said though, it will certainly take you longer to pay all your bills (queuing in the post office every time a bill comes in), means you cant order via mail order/ internet unless you find a company that accepts postal orders (and you then pay for the p/o) and many companies charge for non-DD payments/ give discount for DD payments.

Certainly do able but will cost you a lot in both time and money