People with no bank accounts

[cheesefest]

It's not just the spending element either. Most jobs these days will require a bank account to pay your salary into.

Exactly.

Plus having a bank account saves money. As one example, I have a prescription pre paid certificate, which saves me money. As asthmatics still have to pay (grrr!) the only way to do this is by direct debit! I pay c£125 a year. I have at least 39 prescriptions per year (3 lots of 4 weekly meds) and 2-8 others (oral steroids, antibiotics) and it saves me loads of money

 

[Malevolence]

And when it all goes **** up.

Hostage standoff at Beirut bank ends with gunman’s surrender

Banks in Lebanon have implemented informal capital controls amid ongoing economic crisis, effectively freezing savings.

www.aljazeera.com

 

[Devilman]

In this day and age, I can't believe people still don't have a bank account. How can they cope without one? In the first lockdown, majority of essential retail only wanted card payments. My employer, unfortunately did accept cash. Every colleague, including myself wiped the notes with anti bac spray, hopefully giving the hint.

Also not having a bank account is costing these people more money - for example, some companies offer cheaper deals if paying by direct debit. Plus others will refuse custom to those without a bank account.

No wonder elderly people are targets for muggings. Have seen these having £300 in cash in their purses. Then they have to queue up at the post offices to withdraw their pension.

When pensions were first able to be paid into bank accounts, my dad sorted out this for my grandparents. A blessing as my late grandad became too ill to be left alone for no more than an hour. Plus now my grandmother is housebound.

All this post demonstrates is that you have no idea the hoops people have to jump through these days to try and get a bank account.

For someone living hand-to-mouth, quite possibly with friends or parents, they will struggle to even have a utility bill in their own name to be able to provide "evidence" of their identity etc..

The real issue should be "Why is it so difficult for people to get a bank account?" Especially when they were (and still are) legally obliged to provide basic banking services to EVERYONE.

 

[Malevolence]

Indeed. I already have a couple or three accounts, but I tried to open a basic current account with Natwest a few months back (simply because they're the only bank around here that has a machine to deposit coins in), and despite having all the required ID (passport, letters, bills etc. etc.) they refused me an account. Don't know why, just wouldn't let me open one.

 

[Devilman]

Indeed. I already have a couple or three accounts, but I tried to open a basic current account with Natwest a few months back (simply because they're the only bank around here that has a machine to deposit coins in), and despite having all the required ID (passport, letters, bills etc. etc.) they refused me an account. Don't know why, just wouldn't let me open one.

Yup, Many years ago I was in a similar situation, suffering from serious MH problems and unable to work or even see people face-to-face. I had no bills of any kind in my name, it was basically impossible to even get started in the process of getting a bank account.
I actually ended up having to take one of our BT Bills and "faking it" into my name otherwise nobody would even consider giving me an account. It's absolutely ridiculous.

 

[AndyCr15]

You just started the thread complaining about people who dont pay for things using cards or DD and now you're also complaining that local bank branches are closing? You can't have it both ways.

I know it's an old post, but I don't really get this post. Why can't you? Stop using cash and we don't need physical banks. Surely it's actually the only way it would work? I honestly can't remember the last time I went into a bank or used an ATM.

 

[touch]

I know it's an old post, but I don't really get this post. Why can't you? Stop using cash and we don't need physical banks. Surely it's actually the only way it would work? I honestly can't remember the last time I went into a bank or used an ATM.

That's exactly the point I'm making?
If nobody is using cash then banks will naturally close, as you say.
OP is complaining about the people paying for things with cash and also complaining about banks closing.

 

[AndyCr15]

and also complaining about banks closing.

I didn't see this. I saw them say the ones that shortened their hours and were the ones that then closed (I felt they were pointing out, of course less people use them if they can't... erm... use them). I don't think they have an issue with them closing.

 

[tlrBeta]

Wait what - are you telling me that all these people not paying tax aren't billionaires with cash hidden offshore? Who would have thought