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Forum Post: 12 ways to reduce reliance on banks

Posted 5 years ago on Jan. 12, 2013, 7:37 p.m. EST by jago25 (1)
This content is user submitted and not an official statement

Hate banks? Ways to reduce:

<p>1) Zopa. </p> 2) Transferwise. 3) Bitcoin. 4) Credit Unions 5) Cash. 6) Employee benefits 7) Swaps & barter 8) Gold & Silver 9) Validated IOUs... or trust 10) Give. What goes around comes around, but make a good connection first 11) Invest - in assets that are easily sellable. 12) Invest - in something that generates or saves income. Traditionally this means houses but there are many possibilities. Solar panels. Wind generators. Cheaper transport.
13) Speak to your employer/income. Perhaps they can pay you via another method?



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[-] 2 points by cJessgo (729) from Port Jervis, PA 5 years ago

Thanks,Always nice to see a post on a subject such as this.They have become so rare now with all the other noise of late.After all this is the issue at the heart of OWS.

[-] 2 points by LeoYo (5909) 5 years ago

If only there were a national movement of activists who wanted to start a nationwide credit union for themselves and all Americans and a nationwide mutual insurance company for all americans through which they could then push for universal health care. Why, they could even push for the establishment of state banks in the 24 ballot initiative states to then form a Union Reserve Bank as an alternative to the Federal Reserve Bank. They could even institute their own credit union currency to be used among its members and their businesses forming a nationwide network of local economies, taking even more power away from the banks and their debt currency.

If only...


[-] 2 points by GirlFriday (17435) 5 years ago

One of the things that I tried to find last night was how many people have withdrawn their money from banks in the US. I know many people that have shut their accounts down but have not reopened any place else. I have also noticed that there are banks that are now offering $100 to open an account.

Has anyone come across any information? It has happened in Europe and I wonder if there is a deliberate black out of information or there really is no information to obtain,

[-] 3 points by TrevorMnemonic (5827) 5 years ago

Some corporations and businesses are pushing direct deposit only for payment. Forcing people to be involved with a bank.

From the link below

"10 million U.S. households don't have bank accounts

"The number of people who don't have bank accounts is on the rise, as many households turn to alternative ways of getting cash -- like prepaid cards, payday loans, pawnshops and check-cashing services.

"About 8.2% of U.S. households, or nearly 10 million, lack a bank account, according to survey results released Wednesday by the Federal Deposit Insurance Corporation. That's up from 7.7%, or about 9 million households, in 2009.

"Most commonly, households reported that they don't have a bank account because they don't have enough money to open and fund one, with 33% of respondents saying this is the case."

[-] 1 points by GirlFriday (17435) 5 years ago

Thank you, Trev. You so rock.

[-] 0 points by freehorseman (267) from Miles City, Mt 5 years ago

I think that in the late 80's early 90's The federal Govt tried to force people who recevied social security to have direct deposit.At that time to many of them grew up during the depression and the outcry was large.Time has passed they are mostly gone now.It is also mandatory to now have direct deposite.If not your benefit is put on a debit card.I belive this was effective last year.The military also did this in the late 80's

[-] -3 points by highlander (-163) 5 years ago

Garth Pancake in The Ladykillers didn't trust banks either

[-] 2 points by gnomunny (6819) from St Louis, MO 5 years ago

Damn, TM, what a great scene. That's the hardest I laughed all day!

[-] 2 points by TrevorMnemonic (5827) 5 years ago

yah this guy's mention of the Lady Killers reminded me of that scene.

Mountain Girl is the other half of my life.

[-] 2 points by gnomunny (6819) from St Louis, MO 5 years ago

I gotta check that movie out again next time it comes on. Anyway, I'm signing off for the night. I'll be on tomorrow. Later.

[-] 2 points by TrevorMnemonic (5827) 5 years ago

have a good one!

[-] 2 points by DKAtoday (33486) from Coon Rapids, MN 5 years ago

It might be that I am more keyed to notice right now - but - I have been seeing/noticing more credit union commercials.

[-] 2 points by DKAtoday (33486) from Coon Rapids, MN 5 years ago

I would like to think that that information is trying to be kept quiet.

[-] 2 points by GirlFriday (17435) 5 years ago

Someone brought it up the other day and I said I would run a search. We were driving and she was pointing out the banks adverts. I kept hitting bank runs in Europe. I operate by cash only and where I go to cash my checks there is a sign that says they can help ss deal with the direct deposit thing. There are still ways around it.


[-] 0 points by highlander (-163) 5 years ago

There is only one way...become independently wealthy and pay everything up front, in cash.