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> An interesting wrinkle about net interest is that most customers don’t contribute much. In much of the U.S., median checking account balances at account creation are only around $3,000 Thats a lot of money not in crypto or stocks. Surprising.
Need to save something for emergencies too.
> An interesting wrinkle about net interest is that most customers don’t contribute much. In much of the U.S., median checking account balances at account creation are only around $3,000 Thats a lot of money not in crypto or stocks. Surprising.
Besides the gig economy I heard that a lot of retail businesses like Walmart now pay employees by debit card instead of check. So instead of a check cashing place taking 3% of people's paychecks some bank is taking 1.x% in interchange, and if the bank happens to be owned by Walmart well who would notice.
> a check cashing place taking 3% of people's paychecks You have to pay to deposit your pay in the US?
Besides the gig economy I heard that a lot of retail businesses like Walmart now pay employees by debit card instead of check. So instead of a check cashing place taking 3% of people's paychecks some bank is taking 1.x% in interchange, and if the bank happens to be owned by Walmart well who would notice.
> a check cashing place taking 3% of people's paychecks You have to pay to deposit your pay in the US?
if you are not living paycheck to paycheck, you can keep the minimum balance in a checking account and then arrange have your paycheck automatically deposited every payday with Direct Deposit. This is free.
Check cashing places give you cash for paper checks. They charge a fee for the service.
Besides the gig economy I heard that a lot of retail businesses like Walmart now pay employees by debit card instead of check. So instead of a check cashing place taking 3% of people's paychecks some bank is taking 1.x% in interchange, and if the bank happens to be owned by Walmart well who would notice.
> An interesting wrinkle about net interest is that most customers don’t contribute much. In much of the U.S., median checking account balances at account creation are only around $3,000 Thats a lot of money not in crypto or stocks. Surprising.
Use credit card, it’s the card issuers that are on the hook for fraud. It’ll help you build credit. Use debit when you don’t have the means or credit history.
Both Cash App and Venmo sent me debit cards without requiring any ID.
> An interesting wrinkle about net interest is that most customers don’t contribute much. In much of the U.S., median checking account balances at account creation are only around $3,000 Thats a lot of money not in crypto or stocks. Surprising.
Earlier quoted context omitted.
> a check cashing place taking 3% of people's paychecks You have to pay to deposit your pay in the US?
If it is a physical check (cheque), then often, yes.
Earlier quoted context omitted.
> a check cashing place taking 3% of people's paychecks You have to pay to deposit your pay in the US?
yes, if you don't have a bank account. if you are not living paycheck to paycheck, you can keep the minimum balance in a checking account and then arrange have your paycheck automatically deposited every payday with Direct Deposit. This is free. Check cashing places give you cash for paper checks. They charge a fee for the service.