Thursday, February 5, 2009

I don't get it

For as log as I can remember, my family has always had a bank account. Mostly checking accounts, but some savings too. I've had a savings account since I was 8, a checking account since I was 18. It's been the norm.

So, why do so many check cashing places exist? I can understand if some people do not trust banks at all. Seems odd, IMO, but whatever. But are some people using check cashing services because they are unable to get a savings and/or checking account? Is there some type of qualification that they don't meet?

These check cashing places charge people a small percentage or a flat fee for this service. Why pay a fee when you can cash a check at your bank for free?

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