You're incorrect about the cost of accounts. I can have $2 in my checking or savings account, and there are no fees. I've never had a bank account that cost me money to keep. I also don't have to jump through any hoops, I merely walked into the bank and signed up for an account. Zero cost, zero hassle.

I'm also not sure what electronic payments you're referring to (transfers to others?). I deposit money and it shows up instantly. I buy something from Amazon.com via a Visa card attached to my checking account and it shows up instantly on my account.