I'm not really sure what you are arguing for or against or whose point you're addressing because the things you bring up are tangential to my original comment,

I'm not really sure what you are arguing for or against or whose point you're addressing because the things you bring up are tangential to my original comment, which I still stand by and don't believe has been refuted. "Last time I got a checking account, the process was a formality, and there were no eligibility requirements in excess of the documentation legally required to open an account and the (small) minimum deposit." There were many eligibility requirements - you just happened to pass all of them. Most underbanked/unbanked people don't have bank accounts because they do not meet those eligibility requirements. - A small deposit to open an account is for many on the lower socioeconomic ladder not feasible. - Others cannot pass a soft pull credit check - Many cannot pass the ChexSystem verification because they have delinquent/unsettled accounts at other banks - Some cannot procure a government ID or verify an address - Others can't pass criminal background checks I've seen it, and I've lived it, and I'm certain that they would much rather keep the 3-5% of their check that gets pocketed when they try to cash it outside the mainstream banking system, but they don't have any other options.