What you described is 'retail current accounts' which make up a tiny portion of what 'banking' is. Also, the Fed doesn't 'give out money' really. If the Gover

What you described is 'retail current accounts' which make up a tiny portion of what 'banking' is. Also, the Fed doesn't 'give out money' really. If the Government wants to 'give out money' it can write a cheque - or - use some kind of IBN/SWIFT style coding to direct deposit. The government needs: better identity management so you can 'login' an 'prove' who you are, where you live. And banks need better routing/transfer. FYI there is 'paperwork' and 'process' involved in doling out money, it might have been better not to use the banks.