What’s the reason they wouldn’t give you an account?
It seems like helping people get bank accounts would be what you’d want, though the IT issues arround outages and lack of network services in area is a hard one.
It seems like helping people get bank accounts would be what you’d want, though the IT issues arround outages and lack of network services in area is a hard one.
You can be banned from getting credit pretty easily too; if you've failed to pay council fines (parking, tax, etc.), or missed a repayment on a loan, a judge can give you a ban. It can be a real problem for people who get into a bad financial position and want/need a new bank account later on.
I've personally seen friends struggle with all of the above, but the reloadable AMEX cards at Walmart seem to be doing well to fill in the gaps (except for not being able to direct deposit into them)
Additionally, I know many employers in Indiana offered prepaid cards to their employees that did not have bank accounts. It has been 5 or 6 years since I lived there, mind you. These had fees involved as well, but it was better than nothing.
It really gets my goat that some banks even charge monthly fees. Having a checking and savings account should be free. Withdrawing from and depositing to the account should be free. Writing checks and using a debit card should be free.
I am not a fan of overdraft fees, but I can see that they're at least justifiable.
Please don't patronize banks that have these fees.
I would surely love 2% on my checking though! I thought 2% was on cash back, I will need to search for 2% checking with no restrictions somewhere
My credit union will give you 2% in checking if you meet all of these:
10 debit or credit card purchases per month
enroll in and maintain eStatements, eNotices, eTax & eCoupons for your accounts and loans
$300 minimum monthly ACH credit transaction or $5000 in deposit or loan balances
Previously, they required 10 debit card transactions per month, and I'm not sure I've made that many in my life. I'm going to check a bit closer on this, thanks. Credit union is StarOne.