General Discussion
In reply to the discussion: People who choose not to have bank accounts are being discriminated against in the stimulus package. [View all]Blue_true
(31,261 posts)It is far easier for the government to pay money into accounts electronically when it has a person banking information either because of tax payments by the person, or Social Security (which I think is only electronic now). That process takes a few hours, versus printing checks, which likely will take months.
If you don't have a bank account of some type, how do you plan to cash the treasury check? My guess is the fee that you pay to cash that one check is more than you would have paid monthlyfor a bank account.
It would be nice if banks offered debit only checking accounts. In such a case, you could never overdraft the account, so the bank has zero risk. In turn for the service, the bank would charge a monthly fee, similar to a regular checking account.