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questionseverything

(11,532 posts)

3. Plus you have to have money to open a bank account

Reply to yellow dahlia (Reply #1)

Fri Mar 28, 2025, 05:21 PM

Mar 2025

My granddaughters first job did direct deposit, she had to have an account to get paid, the minimum amount to start a checking account was $25.

Most of the people in the situation described in the article may not have that $25. And that’s if you haven’t previously gotten yourself in trouble with overdrafts or something

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No more paper SS checks. It will affect less than 1/2M people out of the 5.6M UNBANKED households [View all] underpants Mar 2025 OP

Eliminating choice. yellow dahlia Mar 2025 #1

Plus you have to have money to open a bank account questionseverything Mar 2025 #3

Good point. yellow dahlia Mar 2025 #4

My wife's company was bought by a bigger one underpants Mar 2025 #7

They'll have to pry my social security check from Sewa Mar 2025 #2

That may well be the idea. rsdsharp Mar 2025 #6

Think I read they will issue loaded debit cards. Not sure if that is much difference than a check. Silent Type Mar 2025 #5

Which encourages more spending. underpants Mar 2025 #8

Isn't the point that these people do not have bank accounts and Big Blue Marble Mar 2025 #9

It is. underpants Mar 2025 #10

So a pocket full of cash doesn't encourage spending. I'd take a card over a check any day. Though I'm fine with checks. Silent Type Mar 2025 #12

He said he'd pay Elon with a check for a tesla the other day: WATCH IcyPeas Mar 2025 #11

That's like going into a grocery store Tree Lady Mar 2025 #13

now it's getting to be us older folk using cash Skittles Mar 2025 #15

lol I did almost all cash started during covid Tree Lady Mar 2025 #16

I suspect most who get checks cash it, and might have to pay a fee. A card is probably better and safer. Silent Type Mar 2025 #14

I can't remember the last time I got a paper check. William769 Mar 2025 #17