>> It's a real problem that some people cannot afford the fees on a bank account, but I would prefer that we find some way to provide everyone with minimum banking services. Like a no-fee government-provided debit card.
The government shouldn’t even need to get involved here. In the UK accounts have no standard charge and come with free debit card. There’s no reason banks in the US can’t offer this other than the fact people think paying for an account is normal so they can get away with it. Do the “app” banks like Revolut and Monzo offer free accounts in the US? Curious if they’re bringing some competition that could force change.
The government shouldn’t even need to get involved here. In the UK accounts have no standard charge and come with free debit card. There’s no reason banks in the US can’t offer this other than the fact people think paying for an account is normal so they can get away with it. Do the “app” banks like Revolut and Monzo offer free accounts in the US? Curious if they’re bringing some competition that could force change.