What alternatives are there to traditional banks and credit unions?
A. There’s always Uncle Cletus, who’ll be happy to keep your money for you under his porch. But he has raccoon problems, so he’s probably not your best bet. You’re not out of luck, though. You can get many or all of your banking needs serviced at places other than traditional banks. One relatively new development is Internet banks, which have no physical, bricks-and-mortar presence. These have become more popular in recent years. In addition, many traditional banks offer online banking services. These allow you to pay bills, check on your account, and do much more — all from the comfort of your computer. Some deposits are mailed in, while many are made via direct deposit. Withdrawals are usually made through other banks’ ATMs, with Internet banks often allowing each customer a certain number of free ATM transactions per month. Also, many brokerages offer banking services. TD Waterhouse is one example. If you have a brokerage account there, any money not invested in securities is “swep
Related Questions
- If bad loans have been a major cause of problems at banks and credit unions, how are problem loans affecting Bank of Utah?
- How do credit unions and banks in the MoneyAisle network handle joint applications or no-credit applications?
- Why are some banks and credit unions struggling in Utah and around the nation?
