Banking while poor

Alissa Orlando
May 11, 2020 · 4 min read

Why do the poor have to pay to bank, but the rich get paid to bank?

Banking while poor is expensive. Savings accounts are not linked to a debit card, so if you want to pay in something other than cash, you need a debit or credit card.

A debit card is linked to a checking account. With the exception of Capital One’s 360 Checking Account, all checking accounts have monthly minimum balances, and many have…