Wednesday, February 22, 2017

Check Cashing Better Than a Bank?

Interesting article - I had always assumed they were a more expensive option.

The first part of this quote gives me pause, but the latter I can see as a real issue:
"If Carlos is like many small contractors operating in New York City, he relies at least in part on undocumented workers, who are unlikely to have bank accounts. If Carlos deposited his check in a bank, it would take a few days to clear — too late to deliver cash on payday. Or maybe the check was a deposit for a job he had just been contracted to do, and he needed supplies to get started. If he couldn't start right away, he risked losing the job to another contractor." 

No comments:

Post a Comment