Thursday, September 13, 2012

People opting out of having a bank

Danielle Douglas, Wash Post, Sept 12, 2012, says more and more people are ditching banks in favor of check cashers, payday lenders, and pay put on debit cards.

This means they are less likely to be able to get credit for cars and houses.

About 8.2% of households do not use a bank.

Another 51 million have an account, but use pawnshops, payday lenders, and rent-to-own services.

At the same time, banks are raising fees.

Sooo…another paradigm shifting.

My daughter will be paid on a card—how does she give me money for her share—take cash off it?

Brave new world.

Hey--I like ING. Go to You can always talk to a person, even on weekends, they let you transfer money to a debit card then use it instantly--very good company.

No--they are not paying me, more's the pity.

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