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Tired Of Dealing With Banks? Here Are 6 Alternatives

By SiliconIndia   |   Wednesday, September 25, 2013
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Bangalore: While many people believe that they don’t have enough money to have a bank account, there are few others who hate to deal with the banks, as they have lost trust in them.

Everyone would definitely love the new offers and plans that banks provide. But, it has been observed that many banks are taking advantage by digging people with ATM fees or overdraft protection. This is the main reason people have started losing trust on their bank offers and started looking for alternatives.

Here is a list of bank alternatives, compiled by Bankrate.com.

1. Virtual Currency Gains

An anonymous programmer in 2009 founded Bitcoins as a bank alternative. Bitcoins are an electronic currency that was never came into action. However, Bitcoins are purely an experimental digital currency bought and sold only through online exchanges.

An U.S. based, ‘The Mt.’ Gox is the only website that is mainly responsible in handling most dollar-to-bitcoin conversions.

Donald Norman, co-founder of Bitcoin Consultancy, said “One of bitcoin's best uses is for making global peer-to-peer payments. Transferring bitcoins to someone else is usually free. To send cash payments elsewhere, you usually have to pay fees.”

Also Read:
These are the ways NRIs Can Invest in India

11 Books To Help Children Know The Value Of Money
 

 


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