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> Do bank accounts cost money in america? Yes. Going to a bank costs time + money. Having a bank account costs money (and has spiked in price recently). Mainta

> Do bank accounts cost money in america? Yes. Going to a bank costs time + money. Having a bank account costs money (and has spiked in price recently). Maintaining good standing with a bank costs time + money. Even not using a bank account, still costs money in America. ("Inactivity fees"). https://www.cnbc.com/2017/07/21/the-crazy-growth-of-bank-fees.html https://www.cnbc.com/2017/07/21/the-crazy-growth-of-bank-fee... https://www.forbes.com/sites/learnvest/2018/04/05/americans-paid-34-billion-in-overdraft-fees-last-year-heres-how-to-stop-the-charges/#b763b153ce9b https://www.forbes.com/sites/learnvest/2018/04/05/americans-...

JoeAltmaier 8y ago
Hm. I live in Iowa, and my bank account is free. Still costs in time (e.g. get off work to go to bank and open the account) which makes it impossible for some folks working shift-jobs. E.g. the poor.
- derekp7 8y ago
  Most of the working poor work one or more part time / shift jobs. If it is shift work, that means there are times when they aren't scheduled during banking hours. People that are poor that work 9-5, would have Saturday open to them, and many banks have friday hours till 7:00 pm. Still not a good situation, but worse is trying to schedule things like doctors / dentist appointments. Especially if they have to be scheduled weeks / months in advance, before you know what your work schedule for that week would look like.
rinchik 8y ago
No. If you follow your agreement, it costs basically nothing. It's true for every mutual transaction (not only for banks). Also no-one forcing you to create accounts in ONE particular bank, you can shop around. there are plenty of options with minimal to no fees accounts.
- SketchySeaBeast 8y ago
  > there are plenty of options with minimal to no fees accounts. Do you have some options that have no strings (like minimum balance) attached?
  - rinchik 8y ago
    Basic DDG search, and there are plenty of others: https://www.capitalone.com/bank/checking-accounts/online-checking-account/ https://www.capitalone.com/bank/checking-accounts/online-che...
  - coltonv 8y ago
    Other people are going to suggest online banks, which are excellent, but you can't deposit/withdraw cash easily to those, which is the main purpose poorer people have for a bank account. Instead, try local credit unions. As an example where I'm at, Indiana Members Credit Union has a checking account with all the normal perks of a checking account and no fees. And credit unions work together with the major banks to give their members access at most ATMs.
    - rinchik 8y ago
      I wasn't going to, I suggested below. Also it's capital one. In any capital one branch you can make a deposit/withdrawal with your 360-checking account. If they give you freedom of online-banking it doesn't mean their branches magically become unaccessible to you.
      - coltonv 8y ago
        I didn't intend to put down your suggestion, like I said, online banks are great, but there isn't a capitol one, ally, or discover bank in my state. So for people who use cash, a credit union is an excellent choice.
        rinchik 8y ago
        Ironically, people who are being “discriminated” against with progressive, cashless initiatives, live in states where capital one branches and ATMs are on every corner.

JoeAltmaier 8y ago

Hm. I live in Iowa, and my bank account is free. Still costs in time (e.g. get off work to go to bank and open the account) which makes it impossible for some folks working shift-jobs. E.g. the poor.

derekp7 8y ago
Most of the working poor work one or more part time / shift jobs. If it is shift work, that means there are times when they aren't scheduled during banking hours. People that are poor that work 9-5, would have Saturday open to them, and many banks have friday hours till 7:00 pm. Still not a good situation, but worse is trying to schedule things like doctors / dentist appointments. Especially if they have to be scheduled weeks / months in advance, before you know what your work schedule for that week would look like.

rinchik 8y ago

No. If you follow your agreement, it costs basically nothing. It's true for every mutual transaction (not only for banks). Also no-one forcing you to create accounts in ONE particular bank, you can shop around. there are plenty of options with minimal to no fees accounts.

SketchySeaBeast 8y ago
> there are plenty of options with minimal to no fees accounts. Do you have some options that have no strings (like minimum balance) attached?
- rinchik 8y ago
  Basic DDG search, and there are plenty of others: https://www.capitalone.com/bank/checking-accounts/online-checking-account/ https://www.capitalone.com/bank/checking-accounts/online-che...
- coltonv 8y ago
  Other people are going to suggest online banks, which are excellent, but you can't deposit/withdraw cash easily to those, which is the main purpose poorer people have for a bank account. Instead, try local credit unions. As an example where I'm at, Indiana Members Credit Union has a checking account with all the normal perks of a checking account and no fees. And credit unions work together with the major banks to give their members access at most ATMs.
  - rinchik 8y ago
    I wasn't going to, I suggested below. Also it's capital one. In any capital one branch you can make a deposit/withdrawal with your 360-checking account. If they give you freedom of online-banking it doesn't mean their branches magically become unaccessible to you.
    - coltonv 8y ago
      I didn't intend to put down your suggestion, like I said, online banks are great, but there isn't a capitol one, ally, or discover bank in my state. So for people who use cash, a credit union is an excellent choice.
      - rinchik 8y ago
        Ironically, people who are being “discriminated” against with progressive, cashless initiatives, live in states where capital one branches and ATMs are on every corner.