this post was submitted on 02 Sep 2025
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[–] railcar@midwest.social 5 points 1 month ago (1 children)

A surprising number of people don't have a bank.

[–] d00ery@lemmy.world 11 points 1 month ago* (last edited 1 month ago) (4 children)

How do they have or add money in the app then? Sorry, in the UK banks have a legal obligation to provide basic accounts for anyone.

https://www.gov.uk/government/collections/basic-bank-accounts

https://england.shelter.org.uk/housing_advice/homelessness/how_to_open_a_bank_account

[–] railcar@midwest.social 4 points 1 month ago (1 children)

That's great. Canada has very strong credit union adoption. The US is often more predatory. Banks can put people into minimum balance type accounts and fee you until the account runs dry. Not all, but some do. If you live in a rural area, you may not have many options. There's a host of reasons. https://www.fdic.gov/household-survey

[–] Lyrl@lemmy.dbzer0.com 1 points 1 month ago

Credit unions can be predatory, too. The US's largest credit union, Navy Federal, has one of the highest rates of fees charged per customer, even compared to banks. https://www.nclc.org/resources/top-overdraft-fee-offenders-hitting-civilian-military-families/

[–] Blackmist@feddit.uk 2 points 1 month ago

Actually getting the bank to recognise this can be a struggle, however. When my wife wanted one, some of them were insistent that they couldn't give them to people from overseas. Only Nationwide would let her open one.

And in the cold dark of 2025, there might not even be any banks left near you. Most of them are shut or online only. The entire Peak District area has exactly one banking hub, and that's run by the post office after the last bank closed last year.

[–] noxypaws@pawb.social 0 points 1 month ago (1 children)
[–] Tar_alcaran@sh.itjust.works 5 points 1 month ago (2 children)

What, just feed banknotes into your phone?

[–] noxypaws@pawb.social 1 points 1 month ago (1 children)

I don't understand the core concept of "have or add money in the app"?

Do you mean like adding money to some sort of pre-paid card in Apple Pay or Google Wallet? 'Cuz I can't use either of those (GrapheneOS), and even if I could I'm pretty happy just using physical credit cards or cash anyways. Or are you talking about something else?

[–] Tar_alcaran@sh.itjust.works 2 points 1 month ago (1 children)

All these apps are basically a third party "digital wallet", like PayPal. The market exists because US bank suck at quickly transferring money to eachother, and occasionally you want to give a friend money without having cash or waiting 3 business days.

[–] noxypaws@pawb.social 1 points 1 month ago

got it. yeah, I hate relying on paypal or venmo for this shit, but here we are