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The US has a very large population of people known as the "unbanked" who cannot/will not get a bank account. Reasons include immigration/ID status, history of w
by callmeed 10y ago
The US has a very large population of people known as the "unbanked" who cannot/will not get a bank account. Reasons include immigration/ID status, history of writing bad checks, bank levy, etc. They must use check cashing services, pre-paid debit cards, etc-often with high fees.
https://en.m.wikipedia.org/wiki/Unbanked https://en.m.wikipedia.org/wiki/Unbanked
- Veratyr 10y ago> Reasons include immigration/ID status, history of writing bad checks, bank levy, etc. The first can be a legitimate issue (though your link says the majority of the unbanked are American-born), the last two should be resolvable by modernizing the banking system by removing the outdated checking system entirely and offering basic accounts without fees/minimums (at least to low income individuals), bringing the system in line with the rest of the civilized world.