Many of these people do not have a bank account by choice. They don't want any more people than necessary to know how to find them. The government is misrepresenting this situation. Big brother just wants another tracking mechanism on these people.
Most of those 17 million households that are talked about in the article can have a bank account with no problem. But the article ties that in with lack of access to loans/credit, which in this economy is way more than 17 million. This article fails in it's stat manipulation.
Many "Undocumented Workers" here in TX don't have a bank acct. They use Check Cashing places that charge a % of their paycheck to cash it. I've seen some of these guys pull out HUGE wads of cash to pay for stuff. They also use wiring services to send money to countries south of us. They get ripped off when they cash their check, and ripped off when they send money.
You have to feel sorry for these people who aren't sophisticated enough to be making unsecured loans to insolvent institutions.
they are paying the currency exchange 1 1/2 -2 % and uncle sam 0, the ones with fake social security #'s pay uncle sam taxes but will never receive social security, uncle sam/employers knows and look the other way
Convenience Checking Enjoy the convenience of no minimum daily balance requirement for the first year. * No minimum daily balance requirement for first year, then $100 * $15 monthly maintenance fee waived if you meet the minimum daily balance requirement * No minimum initial deposit required to open account * Free first order of checks http://www.tdbank.com/personal/checking.html?state=PA&city= 100% correct