Why I Still Don't Have A Bank Account

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Growing up, I always wanted to have a bank account. I don’t know why but something was appealing about having me a bank account. Maybe it seemed interesting to have one or it made you look like a big boy.

Then crypto came along and changed my mind about having a bank account. Let me make you understand where am coming from with this. I live in Ghana, a country which is located in west Africa. Now, in Ghana, there are a lot of people with bank accounts; mostly people who are doing government jobs. But then there is another alternative to having a bank account, which is mobile money. Mobile money is what a lot of people call it but this is only specific to one network which is MTN, for Vodafone we call it Vodafone cash, for airteltigo we call it airteltigo money.

These other means of sending money have made life very convenient for most people. For me, I started using mobile money at a young age and as such, I’ve grown to fall in love with it. Because of this, I’ve come to hate the banking system very much.

I hate everything about the banking system. Having to stand in a long queue here just to cash out money which I probably need urgently is the killer blow for me. Even if I am not in need of the money I don’t get why I have to stay in a queue all day. One time I was going to pay my school fees, and as we know it most schools prefer you going to pay it directly into their bank account. I can quite remember how early I was at the bank.

By 10am I was already at the bank and I joined the queue. I waited in the queue till 6 pm just to pay my fees which I didn’t even get to do because of network; they claimed. I was disappointed and at the same time annoyed because I spent the whole day at a bank and didn’t get to do what I had to do. Since I had to pay the fees it meant going back to the bank the next day.



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Now one will ask, how do I get money out of hive or Binance?

Well, my mobile money got me covered. I trade coins and only use my mobile money when it’s needed. I barely keep a lot of money in the mobile money because of how shallow our currency is against the dollar. Why not keep it in binance and only cash out when I really need it?

When I put money in Binance I don’t have to pay for keeping it there. Even if I don’t trust Binance that much I can save the money in hbd form and earn from it monthly. Why will I see all this and then save my money in a bank where they deduct it unnecessarily?

Once I was out with my senior brother and his bank pissed him off. They made a debit from his account like six times. An amount they were supposed to deduct once turned into something else. From his explanation, he left that account dormant for a while and he suspects that’s the reason. Why will I want to go through the stress?

For now, I don’t have a reason to have a bank account. In future am sure I will need it but am sure most of my funds will still be in crypto.

Thanks for reading.



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9 comments
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You are not alone buddy. I also don’t have one despite my parents attempts to persuade me to get one. I don’t really have any use for it now. But i probably will need one sooner rather than later. Thanks for sharing buddy.

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Am not gonna lie, I did look up a few but it seems none of them interest me. I don’t know why but maybe in future I will get one

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This is intresting, i do have a bank account from my school days. Thanks for sharing i have no idea things works in your area with a bank account. We have to open an bank account to make transaction, if you are using others account to do that then the case is different 😉

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Eventually I have to get a bank account for bigger transactions. The mobile money might not always be able to handle the big transactions.

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I don’t see why banks should be used. A time will come and you wouldn’t even have access to the ones you kept there. They will give you time as to when to come for it. As if they won it. This has made me never to like the banking system.

For my school fees, I was blessed to have been in UG where we could even pay through MOMO. That and everything easier. The first time I went to the bank to pay fees was my admission fees into UG.

I will always prefer the Binance trade to my MOMO. Very simple and convenient. Thanks for sharing bro.✌️

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I don’t see why banks should be used. A time will come and you wouldn’t even have access to the ones you kept there

Hehe, I wish. But for bigger transactions I might have to use a bank account one day. Sometimes I wonder why we don’t accept crypto yet.

For my school fees, I was blessed to have been in UG where we could even pay through MOMO. That and everything easier. The first time I went to the bank to pay fees was my admission fees into UG

Oh that’s pretty cool. Having to pay with momo is a blessing for me. Even though the e-levy might be some sought of barrier for a lot of people. Even at that I know I will prefer paying that much for e-levy rather than spending the whole day at the bank.

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I learnt about Mpesa in Kenya from MTN 2 years ago and was delighted by the brilliance of the system which enabled the unbanked to have access to financial services. I can understand your reason for not wanting a bank account - clearly you do not need one now as you have other ways to make payment.

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MTN really do well when it comes to these type of things. For now I don’t need the bank account as you have rightly said but I think sooner or later I have to get one since I will make bigger transactions.

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