Why low-income Americans often have to pay more

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  • Those who do not live near the right bank lose out, either from ATM withdrawal charges or from a long trek to make a withdrawal.
  • Many states issue their own pre-paid cards to dispense welfare payments.
  • Pre-paid debit cards are growing in popularity as an alternative to bank accounts.
  • The total refund can run into thousands of dollars, making it worth more than many families’ monthly pay cheque.
  • Regulators have recently nudged banks away from issuing high-cost short-term loans secured against imminent tax refunds.

Why low-income Americans often have to pay more

@crypto_bitcoins: Its expensive to be poor #FinTech #crypto #bitcoin #cryptocurrency #btc #blockchain

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Why low-income Americans often have to pay more