Are Banks becoming obsolete?
This question, while it may not be relevant in some circles, is becoming more and more acute in my circle. Mine is the circle of those without pristine credit scores and have had a few problems keeping their average balance above that minimal balance standard required by many of them. It is also quite relevant because of the advent of Reloadable Pre-Paid Debit Cards and of course companies like PayPal. The reloadable debit cards and PayPal offers the same as the online banking does from many banks and while them do have a monthly maintenance fee, it’s often times much cheaper than many traditional financial institutions. Some of the other advantages are listed below. · No overdraft charges- With the reloadable debit cards, you will never be able to go over your limit because the transaction would be declined. · No credit score required- This is a good thing...