I really hate banks. They are a bureaucratic pain in the ass. You allow them to hold your money in a safe place and they act like it is their money and you have no right to it. And lately, with the economic downturn, they have gotten real fee happy on top of the poor customer service.
For a long time I used a national chain simply because they were there. They had bought out a smaller bank I was using so I stuck with them. I got smart when I moved to the Keys and moved my vast fortune, both dollars, into a local bank. Nice folks. They knew everyone on the islands, were involved with all the goings on, and their rates were reasonable. Like you would expect from a small town operation. But, as I mentioned earlier, the economy took a dump and they ran into problems. Then, at the beginning of this summer they were bought out by a larger bank chain. Then a month later that group was bought out by a larger chain. Now with the new owners in place, fees have increased, and customer service went in the toilet. The final straw came when I attempted to do a really simple transaction over the phone and met nothing but resistance and bullshit. So once again I am changing banks. There is another chain that is Keys specific so they are up next. I started the change over today and it will take about a week to settle everything.
But when it really comes down to it I would love to get by without the need for a bank. I am tired of all the bullshit they throw at you. Fees for this, forms for that. All I really use them for is a middle man to transfer my vast brazillions from one place to another. I actually keep very little money with them. And what little I do keep goes for the few bills I have left. Unfortunately, the other accounts I transfer back in forth from require a bank account so I am stuck. I did look into the feasibility of not using a bank. Paypal was a possible option but they are not subject to banking laws meaning they could freeze your account at anytime for no good reason. Their fees are a bit high also. Beyond that there seems to be no real alternative to the current banking system. So for now it is their way. But I will keep looking and if I find an alternative I will most certainly post it up here.