Community, Nonprofits and Businesses sharing Information
$1.5 billion a year is spent in the USA on check cashing fees, according to the Brookings Institute. The FDIC estimates that families without bank accounts - the unbanked or underbanked - spend between 3% and 5% of their income on cash-based financial services. Since most government benefits are now made electronically through direct deposit, most of the checks being cashed are paychecks. Many folks go to the check casher because they believe they do not have enough money for a bank…
ContinueAdded by Lynn Smith on June 29, 2012 at 10:12am — No Comments
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