Bagels
Family Leave Fridays!!!
A few things guys ---
- In my area, UPS does not offer the option of direct deposit to seasonal employees; this is because they hold employees' final checks until their uniform is returned (and yes, this applies to seasonal, inside employees - in case they decide they want to driver help, even if they don't initially want to). This is probably true in other areas as well. Of course, the practice of holding paychecks until company property is returned is illegal in my & other states...
- The majority of low-wager earners are unbanked.
* many are prohibited from getting traditional bank accounts -- bounce too many checks or incur an overdraft that you're unable to bring current and you're account will be closed + you'll be reported to ChexSystem. While on ChexSystems (typically 7 years), it's challenging to open a traditional bank account. You'll be asked to open a CD (that you cannot access) with the bank or you may be given the option of an "alternative" checking account that comes with high fees.
* many low-wager earners don't trust banks. Banks were known to manipulate overdrafts from the 1990s into the 2000s, pocketing billions in fees. For example, when I was 18, I banked with BankOne - the largest bank in my area at the time, and the biggest in the nation at fee manipulation. I could deposit a payroll check on Monday drawn against the local BankOne and they'd wait until Friday to "release" the funds, soaking up a $100 or more in fees over the week - a poop ton of money to somebody working three jobs for $30K. Regulation/prospects of regulation has made this practice much more difficult, but many people still have memories of it.
* many low-wage earners don't manage their funds well, routinely going into overdrafts. Therefore, easier for them to live off of cash and pay $20/month or so to cash them + for money orders to pay their bills.
Obviously the above don't apply to the OP, but there is a reason beyond ignorance people pay $3 to cash a check at MinorityMart.
- In my area, UPS does not offer the option of direct deposit to seasonal employees; this is because they hold employees' final checks until their uniform is returned (and yes, this applies to seasonal, inside employees - in case they decide they want to driver help, even if they don't initially want to). This is probably true in other areas as well. Of course, the practice of holding paychecks until company property is returned is illegal in my & other states...
- The majority of low-wager earners are unbanked.
* many are prohibited from getting traditional bank accounts -- bounce too many checks or incur an overdraft that you're unable to bring current and you're account will be closed + you'll be reported to ChexSystem. While on ChexSystems (typically 7 years), it's challenging to open a traditional bank account. You'll be asked to open a CD (that you cannot access) with the bank or you may be given the option of an "alternative" checking account that comes with high fees.
* many low-wager earners don't trust banks. Banks were known to manipulate overdrafts from the 1990s into the 2000s, pocketing billions in fees. For example, when I was 18, I banked with BankOne - the largest bank in my area at the time, and the biggest in the nation at fee manipulation. I could deposit a payroll check on Monday drawn against the local BankOne and they'd wait until Friday to "release" the funds, soaking up a $100 or more in fees over the week - a poop ton of money to somebody working three jobs for $30K. Regulation/prospects of regulation has made this practice much more difficult, but many people still have memories of it.
* many low-wage earners don't manage their funds well, routinely going into overdrafts. Therefore, easier for them to live off of cash and pay $20/month or so to cash them + for money orders to pay their bills.
Obviously the above don't apply to the OP, but there is a reason beyond ignorance people pay $3 to cash a check at MinorityMart.
