No Bank Account, No Fees?

Some have no choice, and some prefer not to deal with banks.  Either way, life without a bank account can be challenging.

Candice Choi, a reporter for The Associated Press, decided to see what it's like.  She spent one month with the "unbanked" - paying with cash, taking a paper paycheck, and using alternatives to debit and credit cards.

Banks aren't perfect; there are always fees and customer service issues.  But try living without one.  Choi's experiment suggests that she'd pay about $1,100 per year to make and receive payments without a bank in her life, not to mention the time it takes to do everything the old fashioned way.  See her report for all the details:  Living without a bank: Fees and confusion galore.

[via Consumerist]