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But where do the people who don’t want to bank go?

• ceejayoz 8y ago
  As the parent post states, "most of these people are not unbanked by choice". https://www.ozy.com/acumen/one-out-of-every-4-americans-is-underbanked/87796 https://www.ozy.com/acumen/one-out-of-every-4-americans-is-u... > In this area, the United States lags behind other developed nations. The percentage of Americans who are completely unbanked is 7 percent. For comparison, a 2014 World Bank report shows that the percentage of Canadians without a financial institution account is less than 1 percent; Germans, less than 2 percent; and Spaniards, less than 3 percent.
  • dwighttk 8y ago
    That's why I used the word "but"... Some reading I've done on check-cashing and payday loans: https://www.businessinsider.com/check-cashing-stores-good-deal-upenn-professor-2017-2 https://www.businessinsider.com/check-cashing-stores-good-de... (I was able to read this using reader mode in safari) https://www.theatlantic.com/magazine/archive/2016/05/payday-lending/476403/ https://www.theatlantic.com/magazine/archive/2016/05/payday-... full list here: https://pinboard.in/search/u:dwight?query=payday https://pinboard.in/search/u:dwight?query=payday
    • elliekelly 8y ago
      Right in the first article you've linked is exactly what I've told you three times, underprivileged people can't afford banks: > "People told me they were saving money by going to the check casher instead of the bank," Servon told Business Insider.