How easy is it to survive in the UK without a bank account?

Question

I'm self-employed and get paid in cash
I have no mortgage
I only have 3 direct debits

And I absolutely hate banks and everything they stand for.

Before I close my account I would like to hear from those people who manage to survive without a bank account.

Thank you!

Camilla1UK - get over yourself. I DO have an accountant and pay my tax and national insurance just like everyone else. And in case you haven't noticed, my avatar is female, my name is female and I AM FEMALE so why on earth are you referring to my "wife"? Loser.

Answer 1

Not very easy, as you will find. If you are self- emplyed youmust have an accountant who checks that all your receipt etc., and estimates are correct, that you are payijng yourself properly or any employer. What is you had to write a cheque. Do you wish to operate outwith the law. What if your wife wanted to go on e.bay, or operate her own money. At least with a bank account you could keep check of everything. Who likes banks, I am bloody sure I don't but it is a necessary evil. What about your kids. Do you work in the black market = great, I have to pay your taxes. Get a life.

Answer 2

To be honest you possibly could at the present time get away with no bank account but there is going to come a time when you may need to cash a cheque because your client does not want to pay you in cash, you cannot borrow money in any way without a bank account not even for a car, you can't even get benefits without a bank account any more....

Banks are moving more and more toward a money less and even cheque less society - they want all payments to be made by BACS for everything. My employer is now looking to pay all bills by BACS in the next two years.

You also get a reduction in bills if you pay by direct debit.

I suggest that you find a bank with ethical policies - the co-op is supposed to be good as it is owned by the staff.

Please note that an unused bank account will be closed in three years.......as the bank will say you do not need it.

Answer 3

Worth keeping a bank account, even if you don't use it, as you might, one day need a loan or emergency help, and a longstanding bank account serves as a useful identification.

I guess that it is becoming more difficult to manage without a bank account, simply because of the increasing use of plastic for services, in particular for electronic transfers.

I am also becoming concerned by the closing of railway ticket issuing offices which are being replaced by "serve yourself" machines which have to be fed with plastic.

Nevertheless, if you are happy with handling cash, you don't need to use your bank account, and if it costs you nothing, worth leaving open but empty. However, I rather suspect that if you let it drop below £100, the bank may impose handling charges.

I get a lot of satisfaction from keeping some money in my bank, but never using any service that costs me money, so they manage my account for free, and almost every time I call in, try offering me some extra service!

Answer 4

Yes you can. Some Building Societies do NOT ask for ID at all. As long as you have something that has your name and address on. I opened my bank account with just a letter from my GP, as at the time I did NOT have a Driving Licence (I was 16 at the time so wasn't even on the Elrectoral Roll), and all the household bills are in my parents name. I have NEVER had a passport, and a few years ago I passed my driving test but have since surrendered my licence due to ill you.

Answer 5

You can open a prepaid credit card account or a prepaid Maestro card. All these allow your employer or yourself to pay into via the Post Office or Paypoint or Money Shop.
I have a gold prepaid MasterCard. If I use it for everyday living, I pay a flat fee of £4.95 a month. If I use it once in a blue moon, the charge is a £1.
There are now loads on the UK market. It is how the Polish are getting paid.
Just Google prepaid credit cards UK for all the information. Avoid the Virgin prepaid, can't be used in shops, only online.

Answer 6

Dont close your account. Even if you dont need it for paying bills etc, you are better to keep it. Very unfortunately, banks are a vital part of life in todays society. Its very hard to get on in life financially without a bank account. Keep the account open with a quid in it, leave it active forever, just in case.

Answer 7

Dont close the account, just keep it open with £1, you may find it difficult later to open one if you find you need it. It will not be easy, good luck, I hate banks too, they are controlling all of us.

Answer 8

Not knowing UK customs, but knowing those who have done about the same in the U.S. I would keep a minimum activity, such that it looks that you earn minimum wage so you can qualify for reduced phone service, electric/gas service..ect..I say this because these services are avail at reduces rates for people at low income levels.

Answer 9

Keep your account open, you may not have many commitments just now, but will in the future, and what about when you expand? in this day & age,. you cannot live by cash alone, and not all clients will want to pay you in cash.

Answer 10

Easy, but you will get some strange looks when you offer CASH for anything.
You cannot send cash when you buy on line.
One good point if you are offering to pay cash ask the vendor..."Is there a discount for cash?"