Quote:
Originally Posted by gordner
If you are low income, banks offer nothing but additional costs.
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That's not because of low income, it's because of low skills/intelligence. Plenty of good earners can't balance a checkbook and think, as long as they still have checks in their checkbook, they must still have plenty of money in their account.
I have checking and savings accounts with a credit union and a bank. Never paid a fee to either of them other than for a wire transfer once in a great while. No minimum balance required to avoid fees.
And since plenty of vendors like insurance and utility companies charge higher rates for
not paying by ACH, I'd say not having a bank account offers nothing but extra costs. YMMV.