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Because you don't want to be at the mercy of a bank? When your money sits in a bank account, anybody who wants to take it, or seize it, simply has to contact t
by ghshephard 10y ago
Because you don't want to be at the mercy of a bank? When your money sits in a bank account, anybody who wants to take it, or seize it, simply has to contact the bank with appropriate legal authority, and poof - your money is gone, with no recourse whatsoever. At least when you have the physical cash, they have to deal with you personally.
Of course, as we see here, that's becoming more common.
- lostlogin 10y agoMaybe banks are less easy to trust where you are. I have concerns about what happens with my records, but no concerns over my money going away. All banks in New Zealand have a pretty good health rating.
- ghshephard 10y agoPeople feel that way about their banks until the first time money is taken out of their account without their permission. Certainly very possible in the United States.