Bank Alternatives

So this post is straying a bit from my normal posts, but lines up with my recent ones and I still think it is a bit "geeky" since Simple has a smartphone app.  As I talked with people about Square Cash and Circle, I ran into a surprising amount of people who simply did not have a bank account.  Some of them used prepaid options, but not a traditional bank account.

NOTE: 12 Feb 2022 Update - Simple has closed down.  SoFi Money is a good alternative to consider.

$25 from SoFi Money - You can save, spend, and earn interest—all in one account. Use my link to sign up and you’ll get a $25 bonus. Referral link: https://www.sofi.com/invite/money?gcp=baf027eb-93db-453b-a474-fe7aae805180

Of course the easy option is to go to a local bank and open an account, but I wanted to share some alternatives to consider:

1) If you prefer a place you can walk into, look into credit unions.  They typically offer the same services as a bank but due to how they operate they normally have less fees and better rates.  You can read up on credit unions here ( https://en.wikipedia.org/wiki/Credit_union ) and start looking for one here ( http://mapping.ncua.gov/ ).  Also, just search Google for "why are credit unions better" and you will find plenty of articles.

2) If you are ok doing "online only" banking, you can look into Simple.  I personally have been using the Simple card ( www.simple.com ) so I am comfortable recommending it.  Here are the main things I like about Simple:

- No fees ( https://www.simple.com/features/no-fees )
- Features to help you budget
- Smartphone app
- You can get your paycheck via direct deposit
- Works with online money transfer options like Venmo, Square Cash and Circle.
- Sign up using my referral link ( https://simple.com/friends/BRYN323 ) and get a free wallet.  See here for more details ( https://www.simple.com/referrals ).

I hope someone finds this information useful.

If you want to see freebies/offers, go here:
http://bigboystoys13.blogspot.com/2016/11/get-some-free-stuff-or-free-money.html