Poll of the Day > is there a reason why some people don't have bank accounts?

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Jen0125
07/13/17 7:29:36 PM
#1:


sometimes at my job we issue checks to people and they call back saying they have issues finding people to cash the checks (because they're thousands of dollars, like we're talking $15,000) and no institution wants to cash a $15k check without any guarantee they can track you later.

what reason would you not have a checking or saving account
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Melon_Master
07/13/17 7:30:07 PM
#2:


Bad credit?
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RCtheWSBC
07/13/17 7:32:25 PM
#3:


Poor credit, access to banks in their area. I'm actually about to look into unbanked and underbanked communities in the US and the barriers involved!
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Smarkil
07/13/17 7:33:06 PM
#4:


well ive been told they're unable to find ID's so no bank account
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Jen0125
07/13/17 7:34:56 PM
#5:


poor credit can stop you from even getting a savings account?
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green dragon
07/13/17 7:36:36 PM
#6:


I've been told bad credit is a reason.

But, I don't understand that. How are people supposed to improve their credit if they can't even have a bank account?

I don't get why your credit score can make you not have a bank account.
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Blaqthourne
07/13/17 7:36:37 PM
#7:


^ I've never heard of that. That doesn't even seem to make sense.
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Lokarin
07/13/17 7:38:25 PM
#8:


For the longest time I couldn't find a bank where the services fees didn't mean I was losing money every month just for having a bank account
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RCtheWSBC
07/13/17 7:38:49 PM
#9:


It could happen, more likely with major banks like Chase or BoA. They consider it a risk. Or maybe the folks just don't bank out of personal choices?
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Monopoman
07/13/17 7:41:33 PM
#10:


Paying all bills in cash must be really fun, I mean do they just stuff 100 dollars into an envelope and ship that off to their phone company.
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#11
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KevinceKostner
07/13/17 7:43:11 PM
#12:


Bad credit? No credit? No problem!!!
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RCtheWSBC
07/13/17 7:43:50 PM
#13:


Zangulus posted...
Usually owing a bank money. I had an account get over drafted and then closed. I couldn't open another one until I paid it off.

Oh yes, I saw that happen a few times with the clients I worked with over the year (social work).
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wolfy42
07/13/17 7:48:01 PM
#14:


Even just people who owe large amounts of money for medical bills etc and have had wages garnished etc. My past roomate (one that just moved out) had her wages garnished due to medical bills she didn't pay, I don't think they can take the money right out of your bank (think it comes out of your wages directly), but they can track the money you make by what goes in your bank.

If you get paid under the table and don't deposit anything into the bank, then it can't be tracked, so some people may not use banks because of that.
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Doctor Foxx
07/13/17 7:54:31 PM
#15:


Monopoman posted...
Paying all bills in cash must be really fun, I mean do they just stuff 100 dollars into an envelope and ship that off to their phone company.

No, there are usually options to pay for phone or utility bills at places like a post office or grocery store. From my experience in the US.
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Jen0125
07/13/17 7:57:14 PM
#16:


Monopoman posted...
Paying all bills in cash must be really fun, I mean do they just stuff 100 dollars into an envelope and ship that off to their phone company.


idk about phone bills but some utilities have pay stations at grocery stores that look like atms
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Firewood18
07/13/17 7:59:52 PM
#17:


Judging by the people I see paying thier bills using money gram /western union, I'm going to say its people that can't get a proper id or hide thier income by being cash only.
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argonautweakend
07/13/17 8:14:31 PM
#18:


Zangulus posted...
Usually owing a bank money. I had an account get over drafted and then closed. I couldn't open another one until I paid it off.



no, they buy a money order and address it to the company. cant be cashed if lost uesz its written out to you
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Doctor Foxx
07/13/17 8:17:40 PM
#19:


argonautweakend posted...
Zangulus posted...
Usually owing a bank money. I had an account get over drafted and then closed. I couldn't open another one until I paid it off.



no, they buy a money order and address it to the company. cant be cashed if lost uesz its written out to you

My bank won't even issue money orders any longer.
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argonautweakend
07/13/17 8:19:02 PM
#20:


i didnt mean tp quote zang but the guy who said it must be fun to mail cash
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helly
07/13/17 8:21:35 PM
#21:


Jen0125 posted...
Monopoman posted...
Paying all bills in cash must be really fun, I mean do they just stuff 100 dollars into an envelope and ship that off to their phone company.


idk about phone bills but some utilities have pay stations at grocery stores that look like atms

I've never seen something like that, but most utilities also accept money orders. around here, you can go to city hall to pay water and taxes, and the main major bank to pay for power and gas.
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Jen0125
07/13/17 8:22:34 PM
#22:


i pay my rent with money orders because that's literally how the company who manages the property requires you to pay. so fucking stupid.
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helly
07/13/17 8:26:50 PM
#23:


ewww
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Monopoman
07/13/17 8:33:35 PM
#24:


Firewood18 posted...
Judging by the people I see paying thier bills using money gram /western union, I'm going to say its people that can't get a proper id or hide thier income by being cash only.

It's pretty hard to prove that you are eligible for things like Apartments or something if you have no income. The apartment management will wonder how they are going to get paid, if the person is really hiding everything they make to avoid taxes.
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SKARDAVNELNATE
07/13/17 8:55:20 PM
#25:


Banks have minimum balance fees. Suppose you don't have $300 to put aside to keep your account in good standing, next month it's $10 less, and the next month, and so on... Not only is that money wasted but if you don't close out the account eventually you're overdrawn and owe money.

Though with a $15,000 check they should be able to open an account.
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#26
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Nade Duck
07/13/17 9:05:21 PM
#27:


i don't trust mattresses.
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Zeus
07/13/17 9:05:54 PM
#28:


Poor people, poor choices. Plus some banks have requirements which people can't necessarily meet. Alternatively, they might not trust banks because they lived through the great depression or some shit.
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Nade Duck
07/13/17 9:11:35 PM
#29:


Nade Duck posted...
i don't trust mattresses.

they have bugs and carlisle in them.
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Judgmenl
07/13/17 9:34:10 PM
#30:


Even I have a bank account.
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ChipChipperson
07/13/17 10:27:15 PM
#31:


I just started a new job and a surprising amount of people opted for these "pay card" things rather than direct deposit. I don't get why they'd choose something that charges you to use it.
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Snuggletoof
07/13/17 11:14:20 PM
#32:


I've never had a bank account in my life. I use a Credit Union. Fuck banks.

Lokarin posted...
For the longest time I couldn't find a bank where the services fees didn't mean I was losing money every month just for having a bank account


How is this even acceptable?
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wwinterj25
07/13/17 11:39:17 PM
#33:


I didn't have a birth certificate so had issues getting my current bank account. I however got a copy printed and managed to send the copy, proof of address and my latest phone bill and the guy opened me a bank account. This took a while though.

As it's been said in this topic not having I.D, bad credit and other reasons can make it really hard for some folk to open a bank account. Perhaps though some folk simply don't want or need one.

Monopoman posted...
Paying all bills in cash must be really fun, I mean do they just stuff 100 dollars into an envelope and ship that off to their phone company.


I personally take my phone bill to the post office and pay it in cash. The only bill I pay through direct debit is for my internet.
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Veedrock-
07/13/17 11:48:13 PM
#34:


Snuggletoof posted...
I've never had a bank account in my life. I use a Credit Union.

They're the same damn thing.
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Lokarin
07/13/17 11:49:39 PM
#35:


Snuggletoof posted...
How is this even acceptable?


Because banks are a business like any other.
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WarGreymon77
07/14/17 12:05:54 AM
#36:


I currently do have a bank account, but only because I wanted to buy stuff online. I feel much safer with cash.
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VeeVees
07/14/17 12:17:19 AM
#37:


I don't think I've ever not had a bank account under my name. I'm sure I had one since I was a baby.
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Jen0125
07/14/17 12:55:29 AM
#38:


Snuggletoof posted...
I've never had a bank account in my life. I use a Credit Union. Fuck banks.


For the purpose of this topic this is a semantics nitpick
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Snuggletoof
07/14/17 10:30:36 PM
#39:


Lokarin posted...
Snuggletoof posted...
How is this even acceptable?


Because banks are a business like any other.

Credit Unions are non-profit and offer pretty much the exact same service (admittedly with less accessibility) without the fees. I just find it funny so many people accept these fees for the privilege of storing their money when they could easily choose a different option.
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Snuggletoof
07/14/17 10:35:59 PM
#40:


Jen0125 posted...
Snuggletoof posted...
I've never had a bank account in my life. I use a Credit Union. Fuck banks.


For the purpose of this topic this is a semantics nitpick

I don't know. I just felt like with all the reasons people were giving here, they were pretty significantly different.

Honest question, though. I understand the differences and why you may have a use for banking services, but with the purposes of just storing money and having access to it, why do so many people feel this is their only option? Maybe if you move a lot and don't want to set up with another Credit Union each time?
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TheCyborgNinja
07/15/17 12:45:56 AM
#41:


People who frequent payday loan places and Rent-A-Center usually have a lot of baggage or aren't very smart.
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