Unbanking vs. Underbanking: How to Break Up with the Financial SystemDaisy Luther Sometimes you can make a clean break and other times you have to remain just friends. The US government actually has a name for people who have no bank accounts they call these folks the unbanked. The FDIC defines the unbanked as those without an account at a bank or other financial institution and are considered to be outside the mainstream for one reason or another. According to the government, the above scenarios are crisis situations which must be rectified for your own good. 1.) Ease of confiscation We need only to look at the horrible situation in Cyprus to see how bank accounts are like all-you-can-steal buffets for the powers that be. A suggested theft TAX of up to 20% of the money in Cypriot bank accounts may be levied in order for the country to meet its staggering debts in the terms of the proposed EU bailout. The banks of Cyprus are loaded with the money of residents and businesses of other countries that have used them as a tax haven. The banks have been closed for several days and frantic customers are left to withdraw the maximum daily balances from ATM machines in an attempt to salvage what they can. Many people fear the banks will never reopen their doors. Think it cant happen here? I wonder if the people of Iceland, Greece, Ireland, Hungary, Argentina, Spain, and Portugal thought that too. 2.) Surveillance The second reason that everyone should have access to banking services is the digital trail that it leaves. Every dime you receive and spend out of these accounts is part of an intricate system of surveillance. When your money goes into a bank any bank Big Brother knows about it. Its a simple matter of compiling information via your social security number (or other federally- assigned number) to find out how much you make, how much you have, and where it comes from. This can be used to prosecute you for tax purposes, to locate you through where your pay comes from, and to follow your personal money trail for a variety of different reasons. It can also be used to track your spending Big Brother can find out that you spent $2000 at a gun store, that you purchased online from a prepper supply website or that you bought some books with questionable content in order to paint you as a threat. Unbanking So, in this day and age, is it possible to get by completely without a bank account? Its tough. Most work places prefer to pay through direct deposit. Many landlords, mortgage companies and finance companies do business through direct debit. Youre going to pay some steep fees if this is the route that you choose to go. For some, it might be worth it, particularly if you only have a few transactions in a month. Here are some places you can cash checks for a fee: Here are some ways you can pay bills without a bank account: Underbanking Your next option is underbanking. For some people this may be the most realistic way to break up with their bank its the just friends version. If you have a lot of transactions that go through your account every month, it isnt necessarily practical to get rid of your account. Keep in mind that all of the above methods of unbanking still have a component of financial tracking. The checks and bills still have your personal information tied to them in most cases. When you underbank, you still have an account. Set this up with the lowest possible fee and the lowest possible required balance. Shop around to find the best deal. Consider a credit union or community bank instead of one of the big mega-banks. They are slightly safer, emphasis on slightly. Your paychecks from work can be directly deposited, which will make your employer happy. Employers rarely want to do something outside the norm, and if everyone else gets their pay directly deposited, writing a check for you will make you stand out the opposite of what you want to do. As well, any other checks you receive, like refunds, tax returns, etc., can be processed through this account. The goal here is to keep as little money as possible in this account. Banks are no longer the safest place to keep your money, and the .00001% of interest you will accrue is just not worthwhile. Immediately upon payday: Avoid Financial Surveillance The government wants everyone to have a bank account for another reason besides quick accessibility for the purpose of thievery. Big Brother wants to know what you earn, what you spend, and where you spend it. Every penny you spend could one day be used against you, as more and more things become illegal in the police state that is taking over the Western world. Use your bank account as little as possible if youve chosen to underbank: Think about how your purchases tell a story about you that you might rather keep to yourself. Are you buying lots of farm equipment, soil amendments and seeds? Are you buying ammo every week? Are you stocking away large quantities of food or medical supplies? Have you recently purchased 2,347 books on different guerrilla warfare tactics? OPSEC is more than just keeping your mouth shut about your prepperly ways. Although you require some fiat currency to function in todays society, as well as some in an emergency fund, consider using other forms of currency whenever possible. The following suggestions wont work for everyone, but some folks may be able to ditch the dollar in the following ways: The decision to unbank or underbank is unique to every individual. The further away you can get from the system the more privacy and security you will have. The suggestions above are not meant to be comprehensive theyre meant to get you thinking about how you can disengage. As always, your suggestions in the comments can greatly benefit others! Daisy Luther is a freelance writer and editor. Her website,The Organic Prepper, wherethis article first appeared, offers information on healthy prepping, including premium nutritional choices, general wellness and non-tech solutions. You can follow Daisy onFacebookandTwitter, and you can email her atdaisy@theorganicprepper.ca 