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Old 10-14-2018, 03:23 PM
 
Location: Kaliforneea
1,234 posts, read 937,822 times
Reputation: 2029

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Quote:
Originally Posted by Lovehound View Post
Chase will not accept cash as a deposit to an account not your own. My tenants pay their rent by depositing their rent check into my account, because Chase has branches all over, while I'm a few days via USPS from them mailing rent payments to me.
Bank of America and Wells Fargo will accept cash deposits into an acct not your own.

I used to a pay a landlord this way; and another time I wanted to lend some money to a recipient living in another state I did not 100% trust - I didn't want any paper trail/link back to my bank acct.

On the flip side, I have found credit unions that would not do the similar, and it was funny to hear the banks bad-mouth the credit unions as having their own weird rules.

But in regards to the thread topic. yes there are people who live outside of most bank accts, they go to alot of time and trouble and extra expense. I dont want to be one of those people paying for stuff with my cell phone, I use cash for most retail things.
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Old 10-14-2018, 03:25 PM
 
70,885 posts, read 71,245,628 times
Reputation: 48464
Credit unions have their own set of rules and negatives compared to banks
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Old 10-14-2018, 03:56 PM
 
Location: El Pueblo de Nuestra Señora la Reina de los Ángeles del Río Porciúncula
14,518 posts, read 15,211,402 times
Reputation: 10360
Quote:
Originally Posted by SUPbud View Post
But in regards to the thread topic. yes there are people who live outside of most bank accts, they go to alot of time and trouble and extra expense. I dont want to be one of those people paying for stuff with my cell phone, I use cash for most retail things.
So what are the real reasons that people do this?

1.) Don't trust banks
2.) Hiding income
3.) Cultural
4.) Criminals
5.) Saving money

Am I missing anything?

Myself, I'm totally disinterested in Apple-pay etc. but I do put almost everything on my Amazon Prime Visa. I'm maxing my 1% cash back, and I hate having coins in my pocket.
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Old 10-14-2018, 09:47 PM
 
13,369 posts, read 6,610,929 times
Reputation: 12823
Quote:
Originally Posted by Lovehound View Post
Late last year Bank of America informed me that my ATM/online free account—t was stipulated I had no access to tellers, IIRC was a $5 charge for that—was going to terminate and/or be converted into a monthly charge account unless I maintained a ridiculous balance.

While in my quandary I noticed a US Bank mini-branch in my supermarket. I asked them and they said they had a special, they offer free accounts to ex-military and senior citizens, and the special was if I charge $75 on my debit card within 3 months they would give me a $75 credit! Needless to say I charged that within a few days, and they were good for their word.

I do all my real business with a credit union where I've been a long time member. I like having a "piggy bank" account where I keep under $1,000, so that the most I can lose is that amount. I give eBay/PayPal this bank number because they can act rather Nazi at times and their TOS is ridiculously one-sided in their favor.

So if you're a senior or ex-military, check out US Bank. You may qualify for a free account. I told them I didn't want the credit card they offered so they were perfectly fine with giving me a debit card.

I toss all my chump checks in this account. I gas my car from this account. I loaned my cousin couple thou interest free, and he uses Zelle-pay to pay me back. (There's no interest for cuz so there's nothing to report to IRS. I also deposit interest checks from a commercial promissory note, but the proprietor issues 1099-Int forms sent to me and IRS.)
I took all my money from BofA in a cashier's check pretty woman style across the street to USBank and lived happily ever after. I am not ex-military or a senior, but they are awesome to everyone.
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Old 10-14-2018, 09:50 PM
 
13,369 posts, read 6,610,929 times
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Quote:
Originally Posted by mathjak107 View Post
Medicaid for long term care has an asset test .medicaid for health insurance does not .medicaid for health insurance is based on taxable income .money from a bank account would not count as income at any level.

In many states Medicaid health insurance from 55-64 is recoverable from assets
In Texas, Medicaid for health insurance IS asset dependent. Can't have more than $2K. Not the only state like this. My mother was dual-eligible and her sister couldn't send her money directly but she could send a visa gift card and the like. Once, my Aunt did send her a check and it bumped her off Medicaid and she had to re-do the paperwork after she spent it.

Or she could have gotten wire transfers and used money orders or something like people are saying in here, I guess, but she didn't.
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Old 10-15-2018, 02:51 AM
 
70,885 posts, read 71,245,628 times
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and texas is paying the price for being a non expanded medicaid state in both pricing on plans and taxes .

https://www.cnbc.com/2015/05/29/texa...expansion.html
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Old 10-15-2018, 03:05 AM
 
792 posts, read 911,362 times
Reputation: 941
Quote:
Originally Posted by JasmineBunker View Post
Cashiers Checks expire about 5 yrs later. What then?
Like I said this was my dad's friend so I have no clue what she does if they expire after 5 years. Maybe she uses it within 5 years. Maybe she cashes checks nearing 5 years and gets a new one.
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Old 10-15-2018, 05:33 AM
 
13,369 posts, read 6,610,929 times
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Quote:
Originally Posted by mathjak107 View Post
and texas is paying the price for being a non expanded medicaid state in both pricing on plans and taxes .

https://www.cnbc.com/2015/05/29/texa...expansion.html
Rather irrelevant as I am talking about someone who was eligible due to being a disabled senior! It has nothing to do with whether we expanded it or not to non-disabled, non-senior, etc. We don't let people have millions of dollars and get welfare. That is stupid. If we agreed to Medicaid expansion tomorrow we still wouldn't let people sitting on millions to get it. That is stupid!
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Old 10-15-2018, 06:36 AM
 
70,885 posts, read 71,245,628 times
Reputation: 48464
if texas went to expanded medicaid it is a federal law and there are no income limits for lots of reasons on it . texas would have no say in what the requirements were . they either accept the terms or they don't . that is why from 55- to 64 most states with expanded medicaid have recovery for anything spent on medicaid health insurance .
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Old 10-15-2018, 04:50 PM
 
159 posts, read 90,129 times
Reputation: 266
fwiw, postal money orders do not expire.
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