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Do Check-Cashing Services Supply a Banking Alternative?

October 15th, 2020 Posted by payday online loans No Comment yet

Do Check-Cashing Services Supply a Banking Alternative?

Founder regarding the Simple Dollar

A few weeks ago, company Insider published a great article by Alex Morrell on check cashing that i believe is worth everyone’s time for you to read: An Ivy League teacher who invested four months employed in a Southern Bronx check-cashing store says we’re getting hired all wrong.

The content is targeted on the study of University of Pennsylvania teacher Lisa Servon, whom spent many months being employed as a cashier at a check-cashing solution to be able to really understand just why individuals would ever select such a site as opposed to the banking industry that is normal. She really discovered a complete great deal of interesting main reasons why, ones that she’s outlined in her guide The Unbanking of America.

I understand a few those who utilize check-cashing services, and their reason that is main for therefore is the fact that neighborhood banking institutions will no longer work with them. Those individuals developed a history that is large of along with other such misuses associated with the bank’s services until they’d accumulated a hill of unpaid overdraft charges as well as other costs, from which point the bank just cut ties using them. (more…)