Re:Rural America Turning to Grocers, High-Fee ATMs as Banks ...
by scarface74 on Sunday December 22, 2019 @01:10PM
(#21858635)
It seems like the answer then is not to have more private banks but to have postal banking and making it easier for people to have access to bank accounts. They could completely get rid of paper banking. If you pay all your bills electronically via debit cards, the bank and the person/company you are making payments to would know you have the money and reduce the risk of overdrafts.
Right now, the second you use your debit card. It shows up on your account.
Is it? The poorest people are more likely to be primarily cash users, based on what I've read, e.g.:
> "...Seventeen percent of all black households and 14 percent of all Hispanic households had no bank account in 2017, according to a report from the FDIC. Some have poor credit; some work jobs where they’re paid only in cash. Cashlessness isn’t an option for them..."
From https://www.theatlantic.com/technology/archive/2018/12/cashl...