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That's part of the reason why I like having my money with an RIA that I have a relationship with: I can't make big withdrawals on the account without verifying
by SavantIdiot 5y ago
That's part of the reason why I like having my money with an RIA that I have a relationship with: I can't make big withdrawals on the account without verifying with several people. That's a sigh of relief.
I think there is a need for authentication, especially among people that are in and out of poverty.
The catch-22 is that you can't get a job without an address, and you can't get an address without a job, so you cannot be authenticated by means available to most people! Hard to bootstrap yourself when you can't prove you exist. Having some kind of authentication that doesn't require an easily lost-or-stolen asset (ID card, birth certificate) would be helpful, as long as it is voluntary!
- sokoloff 5y agoMany people have addresses without having a job. Kids, stay-at-home partners, roommates, college students, retirees, and likely others.
- SavantIdiot 5y agoI'm talking about homeless people: You can't have an address if you don't have a job because you can't pay rent. Unless you live in a city with adequate public housing. Duh.
- GoblinSlayer 5y agoIn some regions, particularly in Africa, there is no door to door delivery of mail; for example, in Kenya. Renting a PO box has traditionally been the only way to receive mail in such countries. Another use case is when the mail box at your doorstep is not very secure, you rent a po box in the post office and mail is delivered to that po box instead of your address.