4 ms·
Oh it's a little more pernicious than that. ChexSystems and a few other companies are used to check a database when cashing a check at major retailers in the US
by formerkrogemp 4y ago
Oh it's a little more pernicious than that. ChexSystems and a few other companies are used to check a database when cashing a check at major retailers in the US. Walmart and Kroger utilize this third-party vendor to deny check cashing (including payroll checks) to people who're on the same list as those who can't open bank accounts. Good luck getting that check cashed for less than $20-30.
Source: I used to work in retail.
- kkielhofner 4y agoWow, I wasn't aware of this use of ChexSystems but from the standpoint of banks, check cashers, etc that makes business sense. From the perspective of people trapped in this system paying 10% in fees to cash a $300 check is outrageous - but at this point it's more or less what they have to do and that's "just the way things are".
- nradov 4y agoThat's why many larger employers (including Walmart) now offer unbanked employees the option of getting paid with a pre-paid card instead of a paper check.