4 ms·

really? Your sure about that? You try it. Put yourself in a life where you have no bank account, no or bad credit, and try to take the check you just receive

really? Your sure about that? You try it. Put yourself in a life where you have no bank account, no or bad credit, and try to take the check you just received from "low income job x" and try to find a retail branch of the bank it was written against. If you're real lucky, there is a retail branch near you. When you go in, you will be presented with process barriers the bank uses to keep you from cashing the check. Are these barriers legal? Doesn't matter. You still will be sent out the door without your money...and then you go back to the loan sharks.

randallsquared 18y ago
"Are these barriers legal? Doesn't matter. You still will be sent out the door without your money...and then you go back to the loan sharks." Wait, you're now arguing that the "loan sharks" are useful and helpful, after denigrating them elsethread? In any case, I agree that you can cash a check at the bank it is drawn on, and that it can be difficult. Because my newly opened account had an eight day clearing time, I needed to cash my checks and trot over to my bank to deposit cash quite a bit last year (small employer had no direct deposit). It was comical what lengths they went to to try to avoid giving me cash. "Are you a customer with us? [No.] Oh, I'm sorry." (But I didn't go away). "Oh, you'll need two IDs." (Okay, here you go). "Oh, we don't have that much money on hand." (It wasn't very much, especially for a bank). "Oh, I'll have to get my manager." (in a vaguely threatening-maybe-you-should-just-leave manner). "If you open an account with us, we can cash this." (But of course they could even if I didn't). "We can't give out that much cash. Can you come back tomorrow?" (No). "I guess we could do a cashier's check for half of that [said doubtfully]. Would you like to open an account with the remainder?" Etc. The first few times, I was polite and firm, and eventually they recognized me when I came in and I didn't get any hassle. But lots of people wouldn't know that "We can't" doesn't mean they can't.
- jhancock 18y ago
  "Wait, you're now arguing that the "loan sharks" are useful and helpful, after denigrating them elsethread?" They are only useful and helpful in the absence of forcing banks to act like decent members of society. Fix that problem (which is very easy if you focus on corruption between corporations and elected officials) and you remove the need for the loan sharks.

randallsquared 18y ago

"Are these barriers legal? Doesn't matter. You still will be sent out the door without your money...and then you go back to the loan sharks." Wait, you're now arguing that the "loan sharks" are useful and helpful, after denigrating them elsethread? In any case, I agree that you can cash a check at the bank it is drawn on, and that it can be difficult. Because my newly opened account had an eight day clearing time, I needed to cash my checks and trot over to my bank to deposit cash quite a bit last year (small employer had no direct deposit). It was comical what lengths they went to to try to avoid giving me cash. "Are you a customer with us? [No.] Oh, I'm sorry." (But I didn't go away). "Oh, you'll need two IDs." (Okay, here you go). "Oh, we don't have that much money on hand." (It wasn't very much, especially for a bank). "Oh, I'll have to get my manager." (in a vaguely threatening-maybe-you-should-just-leave manner). "If you open an account with us, we can cash this." (But of course they could even if I didn't). "We can't give out that much cash. Can you come back tomorrow?" (No). "I guess we could do a cashier's check for half of that [said doubtfully]. Would you like to open an account with the remainder?" Etc. The first few times, I was polite and firm, and eventually they recognized me when I came in and I didn't get any hassle. But lots of people wouldn't know that "We can't" doesn't mean they can't.

jhancock 18y ago
"Wait, you're now arguing that the "loan sharks" are useful and helpful, after denigrating them elsethread?" They are only useful and helpful in the absence of forcing banks to act like decent members of society. Fix that problem (which is very easy if you focus on corruption between corporations and elected officials) and you remove the need for the loan sharks.