Is it possible to live without a Bank account?

[nickyboy]

If your bank account is closed and you are unable to open a new one, what happens to your money? Obviously, they bank can't (I guess) keep it..
Would you have to withdraw it in cash and keep it under the mattress or somewhere?

They send you a cheque. I am aware of a company with a seven figure sum in a bank account that was closed. They failed to open another bank account during the notice period and were sent a cheque

 

[PeteXXX]

They send you a cheque. I am aware of a company with a seven figure sum in a bank account that was closed. They failed to open another bank account during the notice period and were sent a cheque

And, if you cannot open a bank account anymore /anywhere, what do you do with the cheque? 🤔

 

[Alex321]

And, if you cannot open a bank account anymore /anywhere, what do you do with the cheque? 🤔

You are unlikely to be in that situation if you had enough funds left in the closed account to be significant.