4 ms·
Americans are not guaranteed basic backing services. If you have a low income and go to a bank to open an account, they may simply say "no" because you're not
by koala_man 8y ago
Americans are not guaranteed basic backing services.
If you have a low income and go to a bank to open an account, they may simply say "no" because you're not going to be a valuable customer.
- JoeAltmaier 8y agocitation? Not my experience. Heck, even kids can open a bank account.
- logfromblammo 8y agoAnecdotally, a bank once refused to open accounts for my kids, so I later researched the situation and found that there was absolutely nothing I could do about it. If you are refused a new account at every bank, you have no recourse via the law. You're just unbanked, and then business models exist to extract money from you to provide extremely limited access to the banking system, using extortionate fees.
- MisterBastahrd 8y agoMy grandmother wanted to deposit $200K in accounts at different banks and they wouldn't allow her to open a basic checking account because she had no credit history. She and my grandfather had never gotten a loan in their lives.