The Real Reason the Poor Go Without Bank Accounts

Lisa J. Servon, writing for The Atlantic Cities:

Being a regular at the check casher also brings more tangible benefits. Marta, another regular, came to my window one afternoon with a government issued disability check to cash. When I input the number from her RiteCheck keytag into my computer, the screen indicated she owed RiteCheck $20 from every check she cashed. I didn’t know what to do, so I turned to Cristina for advice. I learned that Marta had cashed a bad check awhile back, and that RiteCheck had worked out an arrangement in which she could pay RiteCheck back in installments.

“Pero no tengo los veinte pesos hoy,” Marta explained. Marta could not pay the $20 today—she needed her entire check to cover an unexpected expense.

“No te preocupes, mami—la próxima vez.” Cristina knew Marta would be good for her debt, and that accommodating her situation was good for business.

Fascinating.