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I think that there may be a "generational divide" in some of these responses. One poster stated something like "If you don't have a debit card how can you have access to an ATM?" I laughed out loud! The last time that I used an ATM was over ten years ago when I needed extra money when I traveling far away from home.
I'm still "old school". I carry cash, a credit card and often write paper checks (Oh, the absolute horror!). While I do carry a debit card I rarely, rarely use it for purchases.
So how do you get the cash you carry around? Not at an ATM?
I refuse to use checks because my bank charges $30 a box. I can get cash for free 24/7 almost anywhere without an ATM fee.
To answer the question, I opened a checking account with debit cards for my daughter at age 13 and deposited her allowance in there. It's linked to mine one-way so I can deposit and withdraw from it electronically with a mobile app. When she owes me money I just take it right out, LOL.
She had a few overdrafts and learned very quickly to keep an eye on her balance and use a budget. How is that a bad thing?
I think that there may be a "generational divide" in some of these responses. One poster stated something like "If you don't have a debit card how can you have access to an ATM?" I laughed out loud! The last time that I used an ATM was over ten years ago when I needed extra money when I traveling far away from home.
I'm still "old school". I carry cash, a credit card and often write paper checks (Oh, the absolute horror!). While I do carry a debit card I rarely, rarely use it for purchases.
Quote:
Originally Posted by zentropa
So how do you get the cash you carry around? Not at an ATM?
I refuse to use checks because my bank charges $30 a box. I can get cash for free 24/7 almost anywhere without an ATM fee.
Actually, I do not recall ever, not even once, having a problem with not having enough cash for what I needed to do. Perhaps, it was because I did not (and do not) do a lot of "impulse" buying. If I knew that I needed cash, for example to go to a sporting event or going on a trip, I had plenty of time to stop at my bank during lunch or after work (it was only a few blocks from my job). My current bank is a few blocks from my home, right next to the grocery store, drug store and gas station, and has extended hours in the evening and on Saturday so it is very easy to go through the drive through to get cash if I need it.
And, most of the places that I regularly shop, such as the grocery store, allow me to write out the check for $20 to $50 over the bill, if I wanted to do that. So, it is never a problem having cash even though I do not use ATMs.
I do admit that checks have gone up in price, I recall when they were $10 for 200 checks or $15 for 400 checks (printed at the same time). But, I now make a lot of my payments by phone or by automatic withdrawal. Most months I use 7 to 10 checks, so that $30 box of 200 checks will last me about two years. I can afford that and I have a record of the payments that I made.
Use the ATM if you want to do that. I prefer not to do that.
Last edited by germaine2626; 11-26-2016 at 12:08 PM..
So how do you get the cash you carry around? Not at an ATM?
My dad hates ATM's and using cards. He goes to the bank once every couple weeks and pulls out cash and just spends that.
My mom pays the bills via electronic means, but when they go to dinner, cash is what they use.
Some of that rubbed off on me a bit. I'll use e-checks and ATM and credit cards, but I prefer to pull cash out and use cash for daily transactions. Dinners out i'll go credit card for the double points.
My 15 year old son got a checking account and debit card just a few months ago. The account is linked to mine. I have it set up so that he and I both get text alerts every time the account is accessed and every time the balance falls below $25.
He earns money by doing chores. He goes to the movies, buys stuff on Amazon and runs into the grocery store for me now and then.
I don't really understand the point of waiting until they are in college and away from you before they open an account. I like that I am here to answer his questions and see his activity before I send him out into the world.
Part of this is due to what I saw in banking. Kids overdrawn and fees stacking up because nobody taught them how to balance their account.
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