9 Tips for Living Without a Bank Account and Fees
8) Take Advantage of Money Transferring Services
For times when you need to transfer money rapidly, but do not have a bank account and are thus unable to withdraw cash, it may be useful to use a money transferring service. Though they may not be as secure as a bank wire transfer, services such as Western Union money transfers and MoneyGram allow you to exchange money very quickly. If both the sender and the recipient go to a retail location for the exchange, it is virtually instantaneous. Without a bank account, you can use cash or a secured credit card to send the funds. Alternatively, there are other payment tools such as PayPal and Venmo that allow you to easily exchange money with others who have these apps. While you may incur small fees, if used infrequently it’s still cheaper than monthly bank account fees in most instances.
