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re: Workers without bank accounts
Posted on 4/19/20 at 7:56 am to Al Bundy Bulldog
Posted on 4/19/20 at 7:56 am to Al Bundy Bulldog
You can't do Amazon/Ebay/Newegg without a bank account. That's depressing.
2
Posted on 4/19/20 at 7:56 am to tide06
quote:
Many people in the lower income brackets have various judgments against them or owe child support.
Because they don’t want their money taken by the courts or whoever they owe money to, they rarely use bank accounts and tend towards the check cashing places you see in certain parts of town.
Their employers can be forced to withhold these judgments from their checks.
Posted on 4/19/20 at 7:58 am to Powerman
quote:
These aren't necessarily illegals. They're just idiots.
Truth!
Posted on 4/19/20 at 8:00 am to bayoubengal2007
quote:
Workers without banks accounts are getting paid under the table, thus it is illegal.
Not all of them are getting paid under the table. There is around 15% of the country that are “unbanked” for one reason or another. All legit tax payers, legal residents, etc but have no banking relationships.
I am an investor in a start-up with an App targeting these folks. They make up a lot of the folks you see in the bill pay lines at grocery stores paying crazy high transaction fees to pay their cell phone and other bills.
Posted on 4/19/20 at 8:00 am to Metaloctopus
quote:
I'm HIGHLY curious as to why you think someone not having a bank account makes them an "idiot"? I went a lot of years without one, and I still, to this day, cash my checks, and only put in the bank what I want to put in there.
If I made more money, I'd have more concern about security risks of keeping cash. But since I don't, I'm more concerned about the government seizing my money for any reason, or no reason at all, than I am about it being stolen by a thief.
And I suspect that most, if not all of those who do not have bank accounts, at all, live paycheck to paycheck, and also don't want their money being seized.
Under what circumstances do you think the government can just seize your money in a bank account? You sound dumb
Posted on 4/19/20 at 8:40 am to dakarx
quote:Why don't you just keep the cash for spending money? I have some clients pay cash. I haven't used an ATM in years.
Drives me nuts having to go to the bank to deposit cash every month when compared to electronically depositing checks
Posted on 4/19/20 at 8:44 am to bayoubengal2007
This is why the poor stay poor. Most of these people opened a checking account and overdrew it to the max, opened credit cards and maxed, and took out payday loans and defaulted.
Instead of digging out of the trouble, they keep doubling down.
No sympathy from me.
Instead of digging out of the trouble, they keep doubling down.
No sympathy from me.
Posted on 4/19/20 at 8:44 am to Metaloctopus
quote:
I'm HIGHLY curious as to why you think someone not having a bank account makes them an "idiot"?
quote:
But since I don't, I'm more concerned about the government seizing my money for any reason, or no reason at all, than I am about it being stolen by a thief.
Posted on 4/19/20 at 9:30 am to Al Bundy Bulldog
quote:
How does any adult American not have a bank account?
It's called Thrifty Liquor. Don't go there on a Friday.
Posted on 4/19/20 at 9:54 am to bayoubengal2007
Tryin to get around dem wage garnishments mane!
Posted on 4/19/20 at 10:08 am to bayoubengal2007
AND people can get paid cash and it's not illegal. You just have to do all kinds of other crazy stuff to make it legal along the way. I know a few companies that pay their people cash and they have to keep track of it and record it for their protection and pay proper taxes accordingly. I'm also sure several don't do that.
Posted on 4/19/20 at 10:11 am to Al Bundy Bulldog
Some are in check systems which means they are not allowed to get an account. Like people who bounced too many checks or did fraud.
LINK
LINK
This post was edited on 4/19/20 at 10:15 am
Posted on 4/19/20 at 10:12 am to dakarx
"One of my rent house tenants does not have a checking account"
---
Same here, but they get cashiers check from the bank and send it to me.
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Same here, but they get cashiers check from the bank and send it to me.
Posted on 4/19/20 at 10:14 am to bayoubengal2007
quote:
Workers without banks accounts are getting paid under the table, thus it is illegal.
In my experience it's low income people that either distrust banks or grew up having no experience with banks and don't see any use for them.
In every new hire class I speak at, I always go over the benefits of direct deposit and in every single one there is always a skeptic. I cannot really understand it but those types do exist.
Posted on 4/19/20 at 11:40 am to bayoubengal2007
i would venture to say at least 25% if not more of people in low wage jobs live paycheck to paycheck and dont have $20 left at the end of the week so they have not a penny to leave in a bank account to even have one
some people i have known do open a $5 bank account just to cash checks there rather then stand in line at walmart to do it
some people i have known do open a $5 bank account just to cash checks there rather then stand in line at walmart to do it
Posted on 4/19/20 at 11:43 am to bayoubengal2007
quote:Some, yes.
Workers without banks accounts are getting paid under the table, thus it is illegal. What the hell is wrong with that
Most, no.
Posted on 4/19/20 at 11:58 am to bayoubengal2007
quote:
Workers without banks accounts are getting paid under the table, thus it is illegal. What the hell is wrong with that
False. A lot of these people owe money and if it is deposited into the bank account they will seize it.
Posted on 4/19/20 at 12:03 pm to Mid Iowa Tiger
quote:
crazy high transaction fees to pay their cell phone and other bills.
How crazy high are they paying?
Posted on 4/19/20 at 12:38 pm to bayoubengal2007
There was a liquor store on Sherwood Forrest at Choctaw that would cash anything. Including Student Loan checks.
Posted on 4/19/20 at 12:38 pm to Powerman
quote:
Believe it or not there a lot of people here legally that don't have bank accounts and always cash their checks
It's definitely a trash mentality but it exists. I've dealt with people exactly like this during my time as a construction manager. These aren't necessarily illegals. They're just idiots.
I have dealt with this as well. I don't think they are doing it because they are trashy, it is actually sophisticated.
They are hiding what funds that they have from the government so as to maximize whatever benefits they are receiving from the govt.
They are robbing tax payers.
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