> got charged an overdraft and then a convenience fee for an account below minimum balance and then and then and then and it all turned out to be way worse than just paying for a single financial service.

That's a fun anecdote but it falls right into the illiteracy problem. There are tons of normal banks now that allow you to opt out of overdraft (all of them might now might even be legally required to offer that as an option).

You've inadvertently just shown why financially illiterate people end up way worse off (someone using a payday lender because of a story they heard from their uncle from a bank 20 years ago).