unbanked
Cashing Your Tax Refund Without a Bank Account Just Got Easier
3:40PM 1/19/2012
As many as 60 million Americans have limited or no access to banking services, and many of them will get tax refunds this spring. Typically, this is where payday lenders come in, cashing the checks for big fees, but now there's a new cashier offering to do it for much less: Walmart.
Americans feeling disenchanted (or worse) with their banks after years of ever-increasing fees are increasingly turning to a cheap alternative tool provided by the world's largest retailer: the Walmart MoneyCard.
More people in Southeast don't have bank accounts than in any other part of the country. Mississippi leads the country with more than 16% of households using cash-and-carry for all their transactions. That's a situation that can keep families from climbing the ladder of success.
The largest public corporation by revenue is moving into a decidedly low-rent business. Following its usual strategy, the big box store will charge less than competitors when handing out cash. With approximately 9 million unbanked U.S. households, according to the FDIC, this could be big business.
Russell Simmons Tries to Defend Pricey Prepaid 'Rush Cards'
9:00AM 3/28/2011
Hip-hop mogul Russell Simmons has gone on a virtual PR blitz recently to talk up his prepaid "Rush Cards" and fight back against the negative publicity that's been attached to these type of cards ever since the Kardashian sisters' fiasco with their Kardashian Prepaid MasterCard gave the American...
There's a troubling trend in this nation: People are giving up their banks.
Exactly how many people are going "bankless" is hard to track, but in the late 1990s, the number bandied about in newspaper articles was approximately 10 million Americans, and the FDIC estimated that 13% of all American...
Millions of Americans are facing the worst money problems imaginable, but these same conditions are a boon for pawn shops and payday lenders. Borrowers get short-term loans at these stores using some asset as collateral -- their paycheck, or a car, or jewelry. That access to cash helps, but it comes at a cost that can be crippling.
Why 30 million Americans lack banking services
1:00PM 12/07/2009
More than a million Americans lost access to banks last year, bringing the total up to 30 million people in this country who can't even open a savings account or write a check. The issue of the "unbanked," as they're being called, is a serious one, and the recession is only making the problem...
Banks? insatiable appetite for fee income may be swaying many consumers to use prepaid debit cards to avoid high, unfair fees, to gain control of debt and to gain access to banking services more cheaply.
Millions - possibly billions - of dollars are homeless, lacking a warm, dry bank account providing a roof over their heads. Although it might seem hard to imagine a day where we're stuffing mattresses with money instead of depositing paychecks in the bank, analysts say that scenario isn't too far...
More Stories
Next Page →Market Movers
| Symbol | Last | Change / % | Volume |
|---|
Most Actives
| 8.07 | -0.11 -1.34% | 254.23M | |
| 2.19 | +0.25 +12.89% | 122.18M | |
| 18.88 | -0.26 -1.33% | 109.55M | |
| 12.44 | -0.25 -1.97% | 52.49M |
% Gainers
| 31.68 | +7.78 +32.55% | 18.42M | |
| 89.96 | +13.57 +17.76% | 13.27M | |
| 2.19 | +0.25 +12.89% | 122.18M | |
| 10.50 | +1.10 +11.70% | 3.07M |
% Losers
DailyFinance Wire
- 4 Money-Etiquette Questions Answered
- Walmart's New Health Food Push: Is It Too Hard to Swallow?
- Newlyweds, Don't Let the IRS Spoil Your Honeymoon
- Bonds Are a 'Safe' Investment: A Big Lie Gets Even Bigger
- Why Groupon Will Never Be Great Again
- Why Used Car Bargains Are Getting Harder to Find
- 5 Reasons Facebook Stock May Be a Better Buy Than You Think
Newswire
- Greece's grim choice: deep budget cuts or...
- Greece's coalition party leaders back bailout...
- Deadline nears, Obama wants payroll tax cut...
- NY cable dispute blacks out Knicks, 4 NHL teams
- Staff at The Sun tabloid arrested in bribe...
- Turbo-traders take Bank of America for a ride
- Justice Department calls Swiss Bank a...
- As Facebook IPO nears, the case for dull stocks
- Getting paid $35,000 to short sell
- What the $26B settlement means for you
- Investing your emergency cash: Return vs. risk
- First Premier's $400-a-year credit card
- Big banks' bloated mortgage tab
- Fewer young adults hold jobs than ever before
- Government assistance expands
- Bob Rodriguez: The best advice I ever got
- 24/7 Wall St. Top Analyst Calls of the Week (AONE, ALU, AMSC, NLY, AAPL, CSCO, COH, CSTR, COP, DLR, IBM, LF, MMM, M, OPEN, POST, SIRI, SOHU, TRLG, ZOLT)
- The Force: Star Wars Franchise Worth Over $30 Billion and Growing
- 24/7 Wall St. Closing Bell (COP, GILD, AMSC, MA, COH, LNKD, ATVI, CPST, GPRE, KONA, TRLG, LGF, MOVE, NBL, PCYC, ALU, FLIR, RUTH, FSLR, CIE, TBAC, RPXC, AMRS)
- Mid-day Movers (CIE, AMRS, IPSU, MOVE, LNKD)
- Petrobras Shares Volatile on $225 Billion Development Plan (PBR)
- Morning Movers (CIE, ALU, LNKD, AMRS, XIDE)
- AEP Dividend Growth Still Looks Safe Ahead (AEP)
- Arch Coal Tumbles on Earnings, Forecast (ACI, ANR, PCX, BTU, CNX)
Follow Us
