Probably not true for ALL of them but there’s plenty of people who can’t open bank accounts. People with bad credit/overdrafts, criminal history for fraud, undocumented immigrants, the homeless, etc
Not even bad credit, some banks will debank you for a variety of arbitrary reasons. You need an address, usually have to have regular income, and have to have all of your documents at a minimum, but if you end up in CHEX for any reason (like telling a bank to fuck themselves for almost $400 in overdraft fees that were their fault in the first place) you get denied outright.
If that sounds easy and simple then congrats on your incredibly privileged and sheltered upbringing.
Probably not true for ALL of them but there’s plenty of people who can’t open bank accounts. People with bad credit/overdrafts, criminal history for fraud, undocumented immigrants, the homeless, etc
Wait, you can’t open a basic chequing account with bad credit? I’ve never heard of this before.
Not even bad credit, some banks will debank you for a variety of arbitrary reasons. You need an address, usually have to have regular income, and have to have all of your documents at a minimum, but if you end up in CHEX for any reason (like telling a bank to fuck themselves for almost $400 in overdraft fees that were their fault in the first place) you get denied outright.
If that sounds easy and simple then congrats on your incredibly privileged and sheltered upbringing.
Banks are for profit… how can they scam you with overdraft fees if your too poor to be scammed?
It might be more like excessive overdraft fees