How to Live Without A Bank Account

Your financial activities will be easier with a bank account, but it is not impossible to live without this practice. A bank account is a necessary part of modern life when you have to store your funds safely. 

Many people use bank accounts as a necessary part of life, however, there are also several reasons why many people don’t have an account. 

Opening a bank account also depends on how much money you have, what type of transactions you are doing, and how often you receive funds from others.

On the contrary, those who don’t want to pay additional fees for transactions, deposits, and other payments can ignore bank accounts. 

There are several ways to live without a bank account. But, the question is can you survive without a banking system? What are the problems and possible options instead of banking transactions?

This writing will explain life without a bank account and present four tips to become successful in this path. 

Can You Live Without A Bank Account?

Can You Live Without A Bank Account?

Yes, you can live without a bank account. The banking system is not something that started from the beginning of civilization. 

People managed their funds and transactions in ancient times without banking systems.

In this modern period, millions of people are doing mass transactions, buying and selling items, even receiving and offering loans without a banking channel. 

For instance, if you ask people in rural areas of developing countries, can I pay with my visa card? They might ask you instead of answering your question- What is a visa card?

Don’t be astonished or think that they don’t have money or trading habits. They are familiar with cash transactions

This card or bankless system makes their financial activity vivid, plus, they don’t need any password, statement, check, or annual bank fees.

Due to the complicated rules and regulations, money transaction limits, and other possible troubles, they avoid a bank account. 

People without bank accounts live well and don’t have problems with their everyday trading, transactions, and deposits.

These people keep their money at home that is available twenty-four hours seven days a week. 

What Does Life Look Like Without A Bank Account?

Do you think a bank account will strongly affect your lifestyle, especially your financial activities?

If you think so, you can go for a bank account. 

But, you should reveal the alternative sources that enable you to save, use, and transfer money without having a bank account.

Money orders, wire transfers, cards, or online transactions are convenient options to maintain payment functions. However, don’t forget the lengthy process and security issues of bank accounts.

You might be unable to pay with a check, debit, or credit card, but you will save a noticeable amount by the end of the year. 

Your life does not face any difficulty if you are not a commercially important person. But, you might face some problems while working for a company that pays salaries through a bank account. 

Most importantly, sending money to friends, employees, and family is more challenging without having a bank account if you pay the payroll of your family and company.

However, if you think from a personal perspective, you don’t have any major problems when living as an unbanked person. 

4 Options For Living Without A Bank Account

4 Options For Living Without A Bank Account

You can bypass a bank account but can not live without transactions. So, when you don’t want to open an account, you have to search for other options. 

The best option is to carry cash with you as much as possible. You can go for cards, electronic money wallets, and alternative checking accounts. Let’s explore.

Use Other Cards

Without having a checking account, you can use other cards for payments and receive the fund. It enables you to manage large amounts like a bank account. 

These prepaid cards have the same functions that a bank account offers. If you are worried about poor credit for maintaining a bank account, cards are the best option for you. 

You can directly send payments from your cards and receive payments from others. Besides, cards are widely accepted in most countries to withdraw funds from ATMs.

Besides, prepaid debit cards, BlueBird, and secured credit cards are widely accepted in retail stores. So, you can eliminate the risk of carrying cash when you don’t have a bank account.

Most importantly, you don’t have to pay charges. However, some companies may charge a very low fee for maintenance.

These cards will save you from debt because you can pay and withdraw only the deposited fund.

There are security issues when using cards. If you use it consciously, it is as safe as a bank account. Enjoy the freedom of spending with a card instead of a bank account. 

Use Cash

The most ancient way of payment enables you to spend your money for commercial, personal, and everyday purposes. 

Using cash has so many advantages and you can enjoy the real experience of transactions. When using a card or check, you can not touch your money. 

Besides, you need banking and digital transaction knowledge while paying from your card or bank account. However, cash is available on your hand. Take, count, and pay. It is as simple as you imagine. 

Surprisingly, you are the director and authority of your cash. You don’t need to get permission from the bank or card issuing company. It is up to you whether you are giving it to someone or stored in the wardrobe.

You don’t need to pay any fees, charges, and vat when using cash. It is your fund management and spending system.

There are a few risks while using and carrying cash. If you carry cash on a rainy day, it might damage due to rain. You might also be more susceptible to being a victim of a robbery. 

Furthermore, some retail and online shops don’t accept cash. You can not pay directly to them while purchasing something. 

Use Cashing Checks Or Alternative Checking Accounts

A checking account is a financial service offered by non-banking institutes that allow you to deposit and withdraw funds without limitation. You can use quick checks, cards, and ATMs to use your deposited funds. 

When you are planning to live without a bank account, a checking account is a good solution. It is the best alternative for unbanked people who want freedom of transactions. 

If you don’t have a checking account and receive a check from someone, you can cash it in different ways. 

First, You can visit the issuing bank. Most of the banks accept checks that have been issued from their accounts. It is possible to get your check cashed in the local branch of the bank. 

This system will enable you to cash both personal and payroll checks. You have to pay a small fee for this process and it varies whether you are an account holder or not. 

You are living without a bank account, and you are not an account holder. So, pay the fees and get your check cashed.

The second option is to endorse the check over a friend. If you trust someone who has a checking bank account, you can directly deposit the check to that account. 

Then, the account holder will withdraw money from the bank and give it to you. It is suggested to deposit funds in the account of a trusted person.

The third option is to use a check-cashing store. You should try it when other options are unavailable. This system charges high and is not suitable for regular use.

Use Electronic Wallet

An electronic wallet offers you the most convenient payment experience without a bank account. This system allows users to pay, receive, and deposit funds from different sources. 

You can use the funds from your electronic wallet at any place if you have internet access. The system is designed to provide easy payment ways for people who don’t want to carry cash and open bank accounts.

Here is the trusted electronic wallet service that offers safe and secure transactions. Let’s reveal. 


Paypal is an online money payment system that allows you to transfer and request money in most countries. It is globally accepted by thousands of retail and brand stores.

So, you can pay on the go without cash, check, cards, or bank accounts. It is a paperless transaction system, and you can manage everything on your smartphone, computer, or tablet. 


Venmo is a mobile wallet system operated by Paypal. This digital wallet allows you to transfer money from one Venmo account holder to another. It is great for personal use, students, and people who need limited transactions. 

Google Wallet

Google Pay or Google Wallet is the digital payment system of Google. It offers a peer-to-peer payments service to send and receive money. You can use it from your desktop, mobile, and tablet. 

Facebook Messenger

Facebook added this latest digital payment service for their users. You can receive and send money via messenger. It is a great option to transfer money without a bank account. 

Minimalist Wallets Card Wallet

With or Without A Bank Account As Well?

So, what is your decision? Would you like to use a bank account or not? As we discussed, it is up to you whether you will open an account or not.

Our suggestion is to consider your purposes, money management system, and everyday cost. If you feel secure and think a bank account is necessary for you, you can open it depending on your needs. 

On the contrary, you can live without a bank account or choose an alternative for your transaction processes. 

Before deciding, you can consider the advantages and disadvantages of living without a bank account. Similarly, it is important to consider the pros and cons of a bank account. 

Let’s make your understanding easy and clear. 

Pros And Cons Of Living Without A Bank Account

You are planning to lead a cash-only life. There is a debate for and against living without a bank account. First, we explain the advantages of not having a bank account. 


No Extra Fees and Expenses

When you use cash for payment, you are the controller and user of your money. You don’t need to pay additional fees for transactions via the bank.

If you have a bank account, you have to pay annual fees for services, checks, and credit cards. Plus, the government will apply taxes if you have a certain amount of money.

Increase Money Management Skills

If you store money at home, it will increase your money management skills. Every day you will use cash for different purposes and calculate earnings, spendings, and savings. 

No-Risk of Debt

People who use bank accounts and credit cards take loans frequently that increase their expenses.

Banks present alluring offers for loans, and sometimes you can not ignore them. It will increase your debt and you have to pay interest for the amount.


Risk of Theft and Loss

Carrying cash is not so difficult, however, there is a risk of theft and loss. You can lose your cash when traveling for a long distance. 

Besides, robbery is a common issue in remote and solitary areas. For instance, you are going to purchase a car. Your money is stolen by a gang of robbers. You will lose everything. 

Pros And Cons Of A Bank Account


A bank account is the safest way to store your money. You will get a convenient user option for sending and receiving money. For example, if you have a checking account, you can easily make a payment to someone.

On the contrary, you will get the easiest option to save your money. All the banks offer interest against your deposit. You can also take a loan for an emergency.

In general, all the banks provide debit cards with an account. You can easily withdraw your money from an ATM and pay in a retail store with this card.


You have to deposit a minimum amount while opening a bank account. In most cases, they will not return this money. 

Banks charge different fees for cards, services, and account management. Besides, there are annual and transaction fees. 

Some banks require a minimum amount of deposit. You will get interested from deposited money, however, it is not possible for many people to deposit money on the very first day. 

Personally Thinking

Living without a bank account – Credit: Emoffgrid Youtube Channel

I think you can lead a hassle-free life without a bank account. Before and now, I see my parents don’t have a bank account. They find the difficulties and expensive parts of a bank account. 

The process is also complex and lengthy. I opened a bank account for my father to save money. However, it charges too much, and now I store money at home. 

We can live without a bank account and it won’t affect our money management system. But, having a bank account will give you several advantages in this modern period. 


Carefully take your decision. Consider your financial condition, purpose, and way of life. You understand better whether you need a bank account or not. 

By opening a bank account, don’t just increase your expenses. Living without a bank account is not impossible. 

Your right decision will give you the best option for money management. Take time and think again. 

If you don’t have enough knowledge about bank account management, charges, and fees, you can follow our upcoming articles to get more detail. 

Thank you for staying with us. Enjoy your life every day, and don’t hesitate to lead a life with comfort. EM Off-grid will help you to make your off-grid life interesting.