Checkmate: Check Cashing Stores Ripping Off The Poor.

Memoraresays...

Been there done that. Check cashing exists because many people (way more than you think) earn so little money every week that they can't reliably maintain a minimum balance in a bank account, there IS no extra money to let lay around and accumulate in an account.

Try going into Wells Fargo and cash a paycheck for $400.00 when you have $5.00 in your account, when you need that cash in hand NOW to pay the rent This Afternoon, not a week later after it's "cleared" the bank.

MaxWildersays...

Financial education. Another subject missing from public education. Public debt may be good for the next quarter, but it's gonna hit us hard the next financial downturn. I'm staying solvent, thanks. And so should everybody who has the capacity to think about the future.

Paybacksays...

"72% of GDP was private spending, and 105% was poor people" They need to spend some of that cash on a calculator...

FUN FACT: Up here in the frozen tundras of Canada, a cheque from the government, for any purpose be it tax refund or employment insurance or whatever, is cashed without any fees or charges by the established banks BY LAW. It is even PRINTED on the back of the damn cheque. No bank can refuse to cash it if you have proper GOVERNMENT ID, you need no past history with the bank, and they must cash it, even if you owe them money, they aren't allowed to keep ANY of it.

...and still the retarded masses up here take these cheques to Money Mart and their like for "$6 on a $100". What gets me is the Money Stores make you come up with more proof than a bank would, so it's actually harder and more bothersome to do...

thinker247says...

Must you Canadians continually mock our savage ways? Maybe we want the banks to tell us to leave when we don't have the funds to cash a check. Maybe we're just a bit masochistic that way.

>> ^Payback:
"72% of GDP was private spending, and 105% was poor people" They need to spend some of that cash on a calculator...
FUN FACT: Up here in the frozen tundras of Canada, a cheque from the government, for any purpose be it tax refund or employment insurance or whatever, is cashed without any fees or charges by the established banks BY LAW. It is even PRINTED on the back of the damn cheque. No bank can refuse to cash it if you have proper GOVERNMENT ID, you need no past history with the bank, and they must cash it, even if you owe them money, they aren't allowed to keep ANY of it.
...and still the retarded masses up here take these cheques to Money Mart and their like for "$6 on a $100". What gets me is the Money Stores make you come up with more proof than a bank would, so it's actually harder and more bothersome to do...

8772says...

Man! This drives me nuts! We cash checks at Kroger (Our fees are cheaper though) but I cannot believe how many people come in week after week to cash their check, it really blows my mind. I just want to be like "Seriously, why don't you go to a freakin bank!"

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