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Started By
Message
1
Posted on 9/29/16 at 3:51 pm to TigersHuskers
quote:
It's way cheaper just to start a bank account
yeah but bank accounts have minimum deposits and overdraft fees and those 2 things create all sorts of issues. it's sad, but true
go read up on the "unbanked"
Posted on 9/29/16 at 3:51 pm to rondo
quote:
A lot of poors have bad standing at banks....so having a bank account is not an option.
Posted on 9/29/16 at 3:56 pm to BamaScoop
quote:
So their accounts can't be taken for things like child support.
if they're getting paid via check, then that is resolved at the payment level via income assignment order. same with the comment about liens and what not. much easier for a creditor to get paid directly before the debtor does than allow them to deposit the money and then try to go seize it
Posted on 9/29/16 at 3:57 pm to TigersHuskers
Simple because a bank can take money you owe and give too a creditor and because bank's=taxes
Posted on 9/29/16 at 3:58 pm to Layabout
quote:
There are also bank deserts with all the banks clustered in the more affluent parts of town.
more like there are banks clustered in areas of town where they will be used properly
what's the point of trying to operate a bank in a poor area that doesn't serve the community, won't get many customers, and won't generate a profit? serious question
Posted on 9/29/16 at 4:01 pm to Skip Winkman
quote:
and because bank's=taxes
we're talking about checks. now i guess you can run into the rare independent contractor receiving a check, but i'd assume that's rare. taxes are going to be taken care of prior to the distribution of the check/income
Posted on 9/29/16 at 4:02 pm to Topwater Trout
quote:
Aren't most companies direct deposit now?
We actually just made it mandatory. A lot of the younger employees were scrambling.
Posted on 9/29/16 at 4:06 pm to OysterPoBoy
quote:with all the electronics now days, can that still happen? I'd think you could computer verify a check almost instantaneously.
but I wonder how many times they get scammed with fake checks.
Posted on 9/29/16 at 4:08 pm to TigersHuskers
no green card?
Posted on 9/29/16 at 4:08 pm to LSUTigersVCURams
Semantics. By credit, it is implied they check into some score that is deficient for most in poverty. Maybe I don't have the insider bank terminology down, but that point still stands on merit.
Posted on 9/29/16 at 4:11 pm to BigEdLSU
quote:deficient bc of one's own doing, not because the MAN held them down, right?
Semantics. By credit, it is implied they check into some score that is deficient for most in poverty. Maybe I don't have the insider bank terminology down, but that point still stands on merit.
Posted on 9/29/16 at 4:12 pm to SlowFlowPro
quote:
what's the point of trying to operate a bank in a poor area that doesn't serve the community, won't get many customers, and won't generate a profit?
You forgot about being robbed.
Posted on 9/29/16 at 4:13 pm to baobabtiger
quote:
Most of them have tax liens, judgements, and garnishments on them. They are avoiding that.
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Posted on 9/29/16 at 4:13 pm to kkhere
quote:
The check cashing places are pretty scummy, literally taking advantage of the poor by charging exorbitant fees off of their meager paychecks.
You could start an alternative business for those too irresponsible to keep a bank account, and charge "fairer" fees to perform the services of these check cashing places. What's stopping you? What's stopping anyone if these places fees are so "exorbitant"?
Posted on 9/29/16 at 4:17 pm to Y.A. Tittle
quote:
You could start an alternative business for those too irresponsible to keep a bank account, and charge "fairer" fees to perform the services of these check cashing places. What's stopping you? What's stopping anyone if these places fees are so "exorbitant"?
if you are an immigrant without appropriate docs, this is one of your alternatives, ironically in the state where I live there is a push to reel in some of these payday loan/check cashing services by some politicians, and a push back from other politicians that either own or have "vested interests" in that industry
This post was edited on 9/29/16 at 4:27 pm
Posted on 9/29/16 at 4:30 pm to TigersHuskers
All the negative reasons often get lumped into, "They don't trust banks."
Posted on 9/29/16 at 4:33 pm to kkhere
quote:
The check cashing places are pretty scummy, literally taking advantage of the poor by charging exorbitant fees off of their meager paychecks.
As others have noted, banks consider customers like this to be more expensive or difficult than average. So yes, it will cost more. If you want less expensive services, be easier to deal with.
Posted on 9/29/16 at 4:37 pm to TigersHuskers
This was answered on the first page.
They've tried having checking accounts.
They were hit with overdraft fees because they're irresponsible.
It's cheaper for them to pay a check cashing fee than to pay the fees that the bank charges for being an idiot.
They've bounced so many checks that the Wal*Marts has them in the system. They have to pay cash now.
They've tried having checking accounts.
They were hit with overdraft fees because they're irresponsible.
It's cheaper for them to pay a check cashing fee than to pay the fees that the bank charges for being an idiot.
They've bounced so many checks that the Wal*Marts has them in the system. They have to pay cash now.
Posted on 9/29/16 at 4:39 pm to WG_Dawg
quote:
how many dealers do you know that accept checks for product?
I only mentioned one reason. The other are listed below in this thread.
Take check and cash it
Take cash and buy drugs
Sell drugs
More money in their pocket than they started with
Rinse and repeat, and you will see $5000 rims and tires on a 1991 Buick LeSabre
Now you see?
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