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Would it make sense to have #CashAwarenessMonth (pbs.twimg.com)

submitted 1 year ago* (last edited 1 year ago) by naut@lemmy.ml to c/asklemmy@lemmy.ml

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Maybe December? So we all take money out of banks, at least current month salary, and spend cash only. I think that is something that shouldn't be hard to do and it would show if we, the people, have any power left to make positive changes for the future or we can just surrender and eat bugs.

Edit:

If I’m trading my only true value, my time, then I want to have 100% control over it, not to depend if some bank would freeze my account and I lost 1/3 of my life irreversible.

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[–] KevonLooney@lemm.ee 3 points 1 year ago (1 children)

I'm just letting you know that a free checking account with $1000 in it actually loses money for banks. They would be happy to close the account for you. Removing the money will not faze them at all.

Savings accounts with more than $10K, small business accounts, CDs, and commercial accounts are more valuable in that order. Banks are doing you a favor by offering you a cheap bank account.

Using only cash opens you up to theft and loss. This is a problem for immigrants who can't get bank accounts or are afraid of banks.

[–] naut@lemmy.ml -2 points 1 year ago

I don't know, I remember times when you would get 10 - 11% just for regular saving, keeping money in the bank. Now you saying they are making me favor with cheep account. What are their cost when I give them my money. And most of the value is not in cash, it is virtual. So I would like to see actual reaction instead of speculating. There was also in recent times when you could get paid in cash, you still have that right, but other new laws demands employer to do all business over banks, so even you have that right employer can't do it, that is strange for me.