How to make money on poor people.

[Dr. Zaus]

Last I opened a bank account, it was a credit check. The known-to-screw-banks database is chexsystems but some banks will perform a hard credit check instead of chexsystems or both at the same time. Its not just messing up the free overdraft and getting booted. Poor people need cash now to pay the rent/food not a couple days later when the check clears.

Local credit unions (in my experience) clear checks immediately and only run chex-sys. That said, clearly being poor and ignorant are highly correlated, so even having the knowledge of the difference between a credit union and a bank is a bit much to ask for the ignorant poor.

 

[bononos]

Local credit unions (in my experience) clear checks immediately and only run chex-sys. That said, clearly being poor and ignorant are highly correlated, so even having the knowledge of the difference between a credit union and a bank is a bit much to ask for the ignorant poor.

Immediately? You must be a special case then. Your statement about being poor and ignorant is just sad.

 

[Dr. Zaus]

Immediately? You must be a special case then. Your statement about being poor and ignorant is just sad.

While sad, the correlation between poverty and ignorance is definitively true. I'm not a special case at all. Both of the credit unions I've been at (across two states) are willing to immediately deposit a pay-check, though clearly there's a hold for personal checks.