Is there not a niche in the market for them?
2007-03-26 10:21:53 · 12 answers · asked by Mary D 1 in Business & Finance ➔ Personal Finance
To get a bank account you need 2 proofs of your name and address and identitiy.
These include a passport or photo driving licence, a utility bill and a mention on the elctoral roll.
As you can see, you can't open a bank account without a house to live in.
And I would suggest there is not a market because they wont have the money to put in the account, and at best they could only get an account that had no over-draft capability.
Like an electron account.
Which you need a house for.
Without a home, how with the bank give you your statements?
Or send you your card?
Or banking details?
How can the bank ensure you are who you say you are?
Plenty of reasons why its a bad idea.
Charitable as it may be.
2007-03-26 10:29:54 · answer #1 · answered by Bloke Ala Sarcasm 5 · 0⤊ 0⤋
It is sad fact that in the world we live in applied reinforcing circle, if you are losing your house, there is high probability, you will lose you family, your status, and even yourself.you are considered no one, you can not open bank account, you can not apply for health insurance, and you are not eligible for many things.
There are many social groups helping homeless people to cope with life. They can help bring them back into society, certainly including opening bank account
2007-03-26 10:55:38 · answer #2 · answered by questforquestion 2 · 0⤊ 0⤋
Why do they especially need a bank account? I believe it has to do with having no address and perhaps the money laundering regulations too.
2007-03-26 10:56:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋
They can have bank accounts, as long as they can prove they have a permanent residential address. Some hostels will give them their address so they can get post and will prove their address for them. Also they can have post office accounts too.
2007-03-26 10:26:19 · answer #4 · answered by Anonymous · 0⤊ 0⤋
For most things, you have to have a physical address. I believe that bank business is one of them.
2007-03-30 08:37:40 · answer #5 · answered by kmf77 3 · 0⤊ 0⤋
they can the royal bank of scotland runs a service through the big issue
2007-03-26 10:30:15 · answer #6 · answered by woody 1 · 1⤊ 0⤋
they need a premanent home address and not being bad,but,if theyre homeless they obviously have no money so why would they need a bank account?
2007-03-26 10:33:00 · answer #7 · answered by lees 5 · 0⤊ 1⤋
cuase they dont have an income and they dont have a place to live to prove who they are and where they come from
2007-03-26 10:30:15 · answer #8 · answered by b 1 · 0⤊ 0⤋
I believe it's because they have no fixed address.
2007-03-26 10:32:41 · answer #9 · answered by biancajh 5 · 0⤊ 1⤋
it is all part of our "Patriot act" which requires that you have an address....stupid patriot act
2007-03-26 10:31:29 · answer #10 · answered by CBJ 4 · 0⤊ 0⤋