What percentage of U.S. workers do not qualify to open bank accounts.?

Question

I would like to find out an appx. number of U.S. workers that need to cash paychecks at non-traditional banking locations due to the inability to open a traditional bank account. This inability may be due to sub par credit or other.

Answer 1

If you got some money any of them old crooked bankers will a open you them thar accounts.Them outlaws will be a glad ta taken your money out to.

Answer 2

I am not an expert, but I believe that anyone with a social security number and proper identification to establish their identy and address can open a savings account, although they will probably require a minimum deposit and minimum balance that some might not be able to afford.

Assuming that all US workers with ID, a SS#, and a place of residence can technically open an account, that still leaves the estimated 10 to 11 million illegal immigrants currently working in the US without the ability to open an account, plus any homeless and those that for whatever reason have no form of picture ID.

Answer 3

Well the problem is having bad credit to the point that banks would not lend you a place to put your money. I would say 5 million people minimum

Answer 4

Patrick is wrong.
There are those who have had checking accounts but mismanaged them so badly (o.e. wound up owing the banks money) they are no longer permitted to have a checking account. If the bills are paid and the banks are satisfied, then anyone can have a checking account

Answer 5

sad but true......
i dont know exactly but it is a growing trend,