Charged Fees to Access wages

[sigmadiva]

Originally Posted by thetalady

Pay cards are used for lots of reasons.... a lot of people (maybe working here undocumented or those in poverty) simply do not have checking accounts.

I only have a personal working knowledge of the banking industry, but I *thought* it was easier to get an account at a credit union vs. a bank.

Also, personally I'm all for direct deposit - faster, easier to manage, and safer, IMO.

[knight_shadow]

Originally Posted by sigmadiva

I only have a personal working knowledge of the banking industry, but I *thought* it was easier to get an account at a credit union vs. a bank.

Also, personally I'm all for direct deposit - faster, easier to manage, and safer, IMO.

You have to be a "member" of a certain group in order to use a CU, though (ex. teacher's union, service member, etc). It may be easier than getting accounts at the big banks, but not necessarily easy. Also, many people who choose not to get accounts do so because they don't trust financial institutions.

I have always seen the option to get money on a prepaid card, but never a requirement.

[sigmadiva]

Originally Posted by knight_shadow

You have to be a "member" of a certain group in order to use a CU, though (ex. teacher's union, service member, etc). It may be easier than getting accounts at the big banks, but not necessarily easy. Also, many people who choose not to get accounts do so because they don't trust financial institutions.

True and true.

I have always seen the option to get money on a prepaid card, but never a requirement.

I didn't know about getting your salary on a prepaid card until this thread.

[knight_shadow]

Originally Posted by sigmadiva

I didn't know about getting your salary on a prepaid card until this thread.

Yep. After all the stuff that happened with banks recently, there was a huge increase in the number of folks using prepaid debit cards. I still find it weird that a company would force someone to use them, though.