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A relatively minor move could just be to update the traditional money order to a modern, card-based form. Traditionally the money-order served as a sort-of equ

A relatively minor move could just be to update the traditional money order to a modern, card-based form. Traditionally the money-order served as a sort-of equivalent to the personal check, but not tied to your personal bank account (which means that they shouldn't bounce, you don't need a bank account in the first place to write one, you don't give out your bank account number by paying with it, etc.). But as personal checks get less and less commonly used, the utility of a money order as a check-like form of payment also declines. The modern personal check is the debit card, so a modern money order should probably function similarly.

VLM 12y ago
"the utility of a money order as a check-like form of payment" ... is extremely high and growing over time with poor people. People don't pay high M.O. fees because they're ignorant or stubborn but because they can't open a bank account without having the contents seized legally (child support, debt collectors, maybe on the run who knows), or more likely the bank will refuse to open an account and offer then credit (which is what a checking account is) until they pay off past due debts A, B, and C. This becomes a problem with the "P.O. is a bank" concept because large segments of the population need an anonymous payment system of some sort and I suspect the P.O. will be extremely interested in all your demographic information especially id documents and postal addresses.
- mschuster91 12y ago
  > because they can't open a bank account without having the contents seized legally (child support, debt collectors, maybe on the run who knows) I have experienced the latter two situations. If you have debt collectors hunting you, in Germany you can ask for a so-called "P-Konto" (Pfändungsschutzkonto, a bank account with a certain level that may not be seized by ANYONE. This amount gets higher e.g. if you have a family). If you're on the run... well, most banks let you keep your account as long as you don't manage to let it dry up, because then the notification letters will bounce. Also, if you're on the run, remember that cards on your name may get flagged - if used, cops are silently alerted to arrest you. Or the CCTV footage might be used for mugshots, or your data mined to predict your behaviour.

VLM 12y ago

"the utility of a money order as a check-like form of payment" ... is extremely high and growing over time with poor people. People don't pay high M.O. fees because they're ignorant or stubborn but because they can't open a bank account without having the contents seized legally (child support, debt collectors, maybe on the run who knows), or more likely the bank will refuse to open an account and offer then credit (which is what a checking account is) until they pay off past due debts A, B, and C. This becomes a problem with the "P.O. is a bank" concept because large segments of the population need an anonymous payment system of some sort and I suspect the P.O. will be extremely interested in all your demographic information especially id documents and postal addresses.

mschuster91 12y ago
> because they can't open a bank account without having the contents seized legally (child support, debt collectors, maybe on the run who knows) I have experienced the latter two situations. If you have debt collectors hunting you, in Germany you can ask for a so-called "P-Konto" (Pfändungsschutzkonto, a bank account with a certain level that may not be seized by ANYONE. This amount gets higher e.g. if you have a family). If you're on the run... well, most banks let you keep your account as long as you don't manage to let it dry up, because then the notification letters will bounce. Also, if you're on the run, remember that cards on your name may get flagged - if used, cops are silently alerted to arrest you. Or the CCTV footage might be used for mugshots, or your data mined to predict your behaviour.