These days, having a bank account is about as common as carrying a driver's license -- it's something most people have. But "most people" doesn't mean "everyone." Maybe, due to financial difficulties or bad luck, you wrote one too many bad checks and ended up listed in ChexSystems, a service that banks check before opening an account for someone. Or, perhaps, you're starting over after a divorce or big move and you haven't yet found a new financial institution. Whatever your reasons, not having a bank account can be a liability. You probably already know that. What you may not know is how to manage without the ubiquitous, all-powerful bank account -- especially when it comes to loans.
While having a bank account may seem like a logical prerequisite to taking out a loan, it's not always necessary. We'll provide you with a couple examples of loans that don't require bank accounts, as well as the benefits and dangers of each. Keep reading to find out more.