I don't want to support the banks

I've heard about bitcoin but don't really know much about it. Thanks for the link.

 

you cant pay the rent or buy groceries with bitcoin. at least not yet.

 

Yeah. I read up on the site provided and it seems very limited. I mean, I would love to be free from our corrupted monetary system, but if I can't switch to bitcoin completely from dollars, then what is really the point? At least I can continue to boycott the banks without being stuck with no way to pay rent or groceries.

 

My roommate doesn't have a bank account. He uses check cashing places and pre paid debit cards for everything. The interest rates on those services are outrages however.

 

No problem. I support the banks. They are the true oil of the Economy. Other than that I now have to find where was it in the Forums that Obama was doing O.K.

 

I figured it out guys. I signed up for GoBank and Simple. Figured I'd see which one I liked better. I just need to wait a little bit more to sort out my money and then I can close my BoA. Hopefully they won't slap me with random closing charges or whatever. I already moved most of my money out of the account.

Also, I don't know why Simple goes by invite only. But if anyone here is thinking of leaving their bank and wants an invite, I can send you on now that I have an account. Just pm me your email

 

It's amazing that I still haven't been able to close my BoA. I'm going through a lot of trouble to do this and I'm sure they're not going to miss my patronage. It's the principle though. I don't want to have any issues getting what little cash I have left out of there so I'm making sure my account is empty before I try to close it.

I opened a GoBank account, going to close the Simple one because all of the transfers take way longer than they need to. The Direct Deposit for GoBank is simpler (haha, ironic pun) surprisingly.

 

I got tired of the banks taking my money, so I took theirs and I'm on the run

 

The system might be corrupt, but I'm not sure how bitcoin is any better.

I mean, yeah it's different... but you must know that it had its start among the kind of people who kill for money, sell drugs, make child porn, engage in human trafficking, etc.

Yes, it's an alternative... but I can't see how using it makes you morally superior.

 

Good on you, Sleeping Caterpillar, ahaha.

And fraggle, no one is saying using a bank alternative makes us morally superior. It's just a choice based on our beliefs about the world we live in.

 

You do get that its misguided though. Gobank is owned by GreenDot, who cut deals with the likes of Walmart to get access, advertising and lower transaction costs.

Banking with GoBank a higher prportion of any money they make off you ends up going to help Walmarts bottom line than it would with BoA

Its a common ruse will local, community banks or credit unions that are "For the little Guy" you are never really sure who owns it.

GreenDot is a publically listed company on the stock exchange, so never completely sure at any one point in time how much of it is foreign owned. The profits for GoBank trickle down into shareholder dividend payouts for Greedot, theres nothing to say that more of that ends up in foreign hands compared to BoA.

To you its just going to come down to who has the lower fees. But as for helping the little guy in the town you live in, far too complex to work out who is helping more Gobank or BoA

 

Under US law, acquisitions of 19% or more of the total shares of any company have to be publicly disclosed, whether the buyer is an individual or a corporation. Stock brokers keep records of all such transactions. Also, the stock holdings of all corporate officers and board of directors members are a matter of public record.

The thing I like about regional banks is that they lack the political and financial clout to influence federal government policies, or manipulate foreign trade. They just don't have what it takes to play the game at such a high level.

 

If they're publically listed, wouldn't Gobank or BoA executive level decision makers' loyalty be to shareholders and not at all for the little guy? just a thought...

 

My point was that I've been ripped off by Bank of America before. I tried to go the credit union route but that didn't work out because I don't have an income yet and they all require a daily limit that I just can't maintain. I wanted a basic account with no charges, while still being able to keep my money somewhere other than under my mattress. I still need access to buy and sell online as well, therefore I need a checking account of some sort.

I know Walmart is a big nasty, but the way I work with my money, I never will need to get a MoneyPak or any crap like that. Anything I'd do with my account, they're not getting a profit out of me. I know this thread is pretty dead, but just wanted to say I finally closed my Bank of America account.