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In the EU, you have a right to open a bank account: https://europa.eu/youreurope/citizens/consumers/financial-products-and-services/bank-accounts-eu/index_en.h

In the EU, you have a right to open a bank account: https://europa.eu/youreurope/citizens/consumers/financial-products-and-services/bank-accounts-eu/index_en.htm https://europa.eu/youreurope/citizens/consumers/financial-pr... Sadly, Boris fixed this for the UK.

pards 5y ago
Same in Canada. The regulation is called "access to basic banking" [0] [0] https://cba.ca/newcomers-to-canada https://cba.ca/newcomers-to-canada
- refurb 5y ago
  "....if they meet the identification requirements set out in the Bank Act." Not sure I see a difference?
  - PeterisP 5y ago
    Identification does not require a fixed address, and it's not like the UK "no fixed address bank account" discussed in the original article can be opened without a proper ID.
    - refurb 5y ago
      Understood, but the challenge of getting documentation for ID can be as significant as having a permanent address.
rr808 5y ago
Sure but this is for citizens where I'm guessing OP was on a working visa.
- the_svd_doctor 5y ago
  The first line in the link says it’s for anyone residing legally in the EU. Not just citizens.
donthellbanme 5y ago
In the USA, you don't have a right to a bank account. In most cases, unless you bounced a check (There is a separate system banks use on checks. It not tied to credit agencies.) you can get an account by walking in with any check, or money, though. Many of our poor are stuck with Payday, with their outrageous fees. Some homeless shelters offer p.o. boxes. Very few sadily. All the Covid fun money blown out of tee shirt bazokas to fraudsters, and big healthy businesses; none went to people without an address. None.
- dan-robertson 5y ago
  It’s easy to say that poor people make (or are forced to make) terrible financial decisions. But that may not entirely be the case and we may be missing some of the advantages of those decisions. See for example http://www.businessinsider.com/check-cashing-stores-good-deal-upenn-professor-2017-2 http://www.businessinsider.com/check-cashing-stores-good-dea...
  - ricardobayes 5y ago
    Cashing a check takes 6 weeks in the UK. Not many people can wait that long for their salaries to show up.
- toast0 5y ago
  > In most cases, unless you bounced a check (There is a separate system banks use on checks. It not tied to credit agencies.) you can get an account by walking in with any check, or money, though. ChexSystems is a credit agency. They just specialize in one data point (as of now).
signal11 5y ago
UK law requires its 9 largest banks to offer fee-free basic bank accounts[1]. While that's not the same as a legal right to an account, it ensures people with poor credit history have access to banking -- it's pretty inclusive but IIRC does require an address -- the 'no fixed address' approach fixes that. [1] https://www.gov.uk/government/collections/basic-bank-accounts https://www.gov.uk/government/collections/basic-bank-account...
Kwpolska 5y ago
This sounds good in theory, but the way it’s implemented in Poland is a bit of a joke. The basic account must be your only bank account in Poland. You need to visit a bank branch to open it (for any other accounts, you can usually just take a selfie and a photo of your ID card), banks tend not to promote its existence and hide it in unguessable places on their websites, and there are some other random limitations (eg. no e-government access, no Google Pay). The basic account is free, has a free debit card, and has five free operations and five free ATM withdrawals. But normal accounts with cards cost nothing if you have some minimum usage, standard transfers done in online banking are free, and withdrawals in the bank’s own ATMs are usually free too. The effect? Less than ten thousand basic accounts existed in 2020, two years after their introduction. (source in Polish: https://serwisy.gazetaprawna.pl/finanse-osobiste/artykuly/1488199,podstawowe-rachunki-platnicze-ma-mniej-niz-10-tys-osob.html https://serwisy.gazetaprawna.pl/finanse-osobiste/artykuly/14...)
- blfr 5y ago
  Banks routinely offering a better account than basic minimum is to their credit and expected in an even slightly competitive sector, not a joke at all. That in other countries it needs to be legislated is weird.
Beltalowda 5y ago
The "you can be refused an account if you do not comply with EU rules on money laundering and terrorist financing" line is key here; this requires an address. This is also what leads to the catch-22 of "you need a bank account to rent something" and "you need an address to get a bank account". Things are a lot easier now with IBAN though, and a bank account is less of a hard requirement than it was 15 years ago.

pards 5y ago

Same in Canada. The regulation is called "access to basic banking" [0] [0] https://cba.ca/newcomers-to-canada https://cba.ca/newcomers-to-canada

refurb 5y ago
"....if they meet the identification requirements set out in the Bank Act." Not sure I see a difference?
- PeterisP 5y ago
  Identification does not require a fixed address, and it's not like the UK "no fixed address bank account" discussed in the original article can be opened without a proper ID.
  - refurb 5y ago
    Understood, but the challenge of getting documentation for ID can be as significant as having a permanent address.

rr808 5y ago

Sure but this is for citizens where I'm guessing OP was on a working visa.

the_svd_doctor 5y ago
The first line in the link says it’s for anyone residing legally in the EU. Not just citizens.

donthellbanme 5y ago

In the USA, you don't have a right to a bank account. In most cases, unless you bounced a check (There is a separate system banks use on checks. It not tied to credit agencies.) you can get an account by walking in with any check, or money, though. Many of our poor are stuck with Payday, with their outrageous fees. Some homeless shelters offer p.o. boxes. Very few sadily. All the Covid fun money blown out of tee shirt bazokas to fraudsters, and big healthy businesses; none went to people without an address. None.

dan-robertson 5y ago
It’s easy to say that poor people make (or are forced to make) terrible financial decisions. But that may not entirely be the case and we may be missing some of the advantages of those decisions. See for example http://www.businessinsider.com/check-cashing-stores-good-deal-upenn-professor-2017-2 http://www.businessinsider.com/check-cashing-stores-good-dea...
- ricardobayes 5y ago
  Cashing a check takes 6 weeks in the UK. Not many people can wait that long for their salaries to show up.
toast0 5y ago
> In most cases, unless you bounced a check (There is a separate system banks use on checks. It not tied to credit agencies.) you can get an account by walking in with any check, or money, though. ChexSystems is a credit agency. They just specialize in one data point (as of now).

signal11 5y ago

UK law requires its 9 largest banks to offer fee-free basic bank accounts[1]. While that's not the same as a legal right to an account, it ensures people with poor credit history have access to banking -- it's pretty inclusive but IIRC does require an address -- the 'no fixed address' approach fixes that. [1] https://www.gov.uk/government/collections/basic-bank-accounts https://www.gov.uk/government/collections/basic-bank-account...

Kwpolska 5y ago

This sounds good in theory, but the way it’s implemented in Poland is a bit of a joke. The basic account must be your only bank account in Poland. You need to visit a bank branch to open it (for any other accounts, you can usually just take a selfie and a photo of your ID card), banks tend not to promote its existence and hide it in unguessable places on their websites, and there are some other random limitations (eg. no e-government access, no Google Pay). The basic account is free, has a free debit card, and has five free operations and five free ATM withdrawals. But normal accounts with cards cost nothing if you have some minimum usage, standard transfers done in online banking are free, and withdrawals in the bank’s own ATMs are usually free too. The effect? Less than ten thousand basic accounts existed in 2020, two years after their introduction. (source in Polish: https://serwisy.gazetaprawna.pl/finanse-osobiste/artykuly/1488199,podstawowe-rachunki-platnicze-ma-mniej-niz-10-tys-osob.html https://serwisy.gazetaprawna.pl/finanse-osobiste/artykuly/14...)

blfr 5y ago
Banks routinely offering a better account than basic minimum is to their credit and expected in an even slightly competitive sector, not a joke at all. That in other countries it needs to be legislated is weird.

Beltalowda 5y ago

The "you can be refused an account if you do not comply with EU rules on money laundering and terrorist financing" line is key here; this requires an address. This is also what leads to the catch-22 of "you need a bank account to rent something" and "you need an address to get a bank account". Things are a lot easier now with IBAN though, and a bank account is less of a hard requirement than it was 15 years ago.