Quote:
Originally Posted by AtLast
Something that has been on my mind about Bank Transfer Day is that there are so many people in the US that have had their credit completely ruined by the recession that they can't even get a bank account of any kind in either a bank or a credit union. And if they have been able to hang on to a checking account in a bank, they don't dare lose it. They will endure all the fees just to keep an account so they can pay bills from it, etc. and use a debit card to purchase goods.
Talk about entrapment! And the alternative to these people is pre-paid credit cards with large use fees or if they have an emergency, pay-day loans with over 400% in interest!!
Tell me, how the hell are these people going to get their credit back? What the hell are they going to do? this group is growing in leaps and bounds in the US. People that have been laid off and at the end of their UE benefits and any extensions are one month away fromfalling down this black hole.
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I don't really know about that. When I opened my new Patelco credit union checking account, they didn't ask me to verify income or do a credit check at all. All I had to do was give them 20 bucks, and that went directly into my new account. They said I have to have a savings account too, however, they opened it for me and THEY put in $1.00 themselves (I still have my $20 in my checking). There is no minimum balance I have to keep in either account. I am allowed to have 6 overdrafts a month before they ding me with a fee for it!! Can you imagine Bank of America doing that???