ST Alpha - "I do understand the many reasons the poor don't use banks but the biggest is that there are no banks in their neighborhood." (Reading a Post)

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In response to "that's a problem for many people, for sure; but the reasons are more varied than that. a lot of people can't afford to have bank accounts, at least -- (edited)" by b.

I do understand the many reasons the poor don't use banks but the biggest is that there are no banks in their neighborhood.

Posted by Krusty (aka krustylu) Feb 15 '17, 14:54

That they live paycheck to paycheck is another issue as well as their conditioning to use check cashing places for many things like paying bills and getting money orders. Check cashing places are their banks and we need to find a way to get them away from those places. A good start would be opening banks in their area. I walk through poor neighborhoods and there are no banks but lots of check cashing and ATMs.

My original post was just a short reply with what I think is the main reason they don't use banks. Having ID isn't their problem with banking, well not most of them.

Responses:

don't make me bring out stats. ;p - b. Feb 15, 15:09 1
- We're on the same side here and I agree with your points. They do need banks andthe right banks with the right incentives. - Krusty Feb 15, 15:33

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I do understand the many reasons the poor don't use banks but the biggest is that there are no banks in their neighborhood.

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