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For many unbanked, getting loans might not always be the highest priority. Just a safe place to park one's money is valuable. Imagine you are sleeping rough on
by mafribe 11y ago
For many unbanked, getting loans might not always be the highest priority. Just a safe place to park one's money is valuable. Imagine you are sleeping rough on the streets, where do you store your few monetary possessions? If you keep them on your body, they are likely to get stolen. A basic bank account as
Someone1234 describes it, would help.
- utnick 11y agoTotally, I agree, I think someone1234 is describing a UK law that provides these basic bank accounts to everyone. I think the underbanked will be helped more through laws and regulations like that than by a new company or something.