7 ways to beat the big banks
From the financial crisis to every hidden fee, banks keep giving us reasons to dislike them. The good news: High-tech innovations in areas like peer-to-peer lending and crowdsourcing are giving us other options.
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JUST USE CASH:
Why let the banks run our lives?
We can get even any time we want to, the problem is the convenience a credit card has to offer.
I don't know of any company that you're doing business with that won't take cash as payment, and you'll get to know the people you're doing business with and them you.
It takes a little time to drive from place to place but the money you'll save on high interest rates will more then pay for the gas.
Borrow as little as possible from competitive lenders affiliated with product sellers like auto companies and big box stores. Pay off credit cards every month. Go into the bank and get cash, never use their ATM's or other overpriced services. Do all of your investing through big investment firms like Fidelity and Schwab. Use several credit cards and if one tries to pull a fast one cancel it and get another one.
I don't care what you call it, how it's set up, if it's online or not. If it's a bank in THIS [or any other country] and the government wants it to, it WILL roll over, if the IRS or the government tells it to. ANY institution that calls itself a bank, DOES NOT have MY TRUST, unless it GETS MY permission first, to tell the government ANYTHING!!! Their slogan should be, [if they want ME to trust THEM] should be "We don't cooperate with ANY government."
Banking IS NOT the government's GD business!!!!!!
They are SO much better than banks yet mentioned so seldom in this kind of article on financial sites one gets the feeling the sites are being paid off not to mention the Credit Unions.
It's like an article about ways to beat riding by horseback to the next state and not seeing automobiles mentioned.
Here are some typical points about Credit Unions you may not know:
1) They are federally insured to the same level as banks.
2) Even if they have a name like "State Employees Credit Union" (SECU) almost anyone can join them. One with a name like that also has a lot of branches.
3) You are paid about 3x the interest rate of banks.
4) You pay absolutely-no-fees at 70,000 ATMs nationwide including those in every 7-11, Target, and Costco. This is also true for tens of thousands of ATMs in some other US territories and English speaking countries like Canada, the UK, Puerto Rico, and Australia.
5) There are no debit-card swipe fees.
6) There are no check overdraft fees if there's enough in your savings acct. to cover it.
7) There are no nickel-and-dime fees if you have your pay or pension or Soc.Sec. check automatically deposited or if you use something like a credit union-originated automatic payment system.
Check it out for yourself!
ONE way to beat big banks:
Be the bigger bank. Eat the smaller ones. Repeat.
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