While perusing the land of black blogs, I came across an article at one of my “guilty pleasure” blogs that I figured I’d talk about here. For those of you who are too lazy to actually go and read the blog (it IS somewhat lengthy), I will give you the break down.
Basically the blog blasts Russell Simmon’s and the concept behind the Rush Card. A reader wrote into the owner of the blog, sighting that it was scam, that people should beware and stay far away from using the card.
While I definitely appreciate being made aware of anything out there that has the potential to screw me over, I have to call bullshit just a bit.
It seems as though it’s more common than not for people to cash their checks at a check cashing facility or local grocery store than it is for them to simply cash it (at the bank the check is drawn on) or deposit it into their own bank account. Why is that?
By my own admission, I HAVE cashed checks at a check cashing place but ONLY if that bank is not available where I’m located. I’m not sure how YOUR bank works but my bank will cash a check and even make a portion of the funds available UNTIL the check clears. If for any reason that check happens to bounce, YOU are held liable for it. To avoid all that, I cash the check at the bank that it’s drawn on and if the bank is not located where I am, I will take it to a check cashing facility to avoid the BS. Now, this is simply what I do…but I STILL have a bank account (savings as well).
Although I understand the reader’s frustration, I was even more shocked at some of the comments that basically cosigned the usage of these ‘prepaid’ accounts. Rather than supporting the notion that keeping your shit straight with the banks is a much better option than worrying about how Simmons is overcharging, many commenters seemed more content in complaining about someone ‘getting over.’ The fact of the matter is is if you kept your own accounts in good standing with the bank, you wouldn’t have to worry about what Simmons or anyone else is doing in terms of fees.
Most of these check cashing facilities and prepaid cards are marketed towards the urban communities. If you pay close attention to ads related to prepaid cards, you’ll notice that they’re filled with blacks and hispanics, looking as though they don’t have a care in the world b/c they, my friends, are riding the waves of an overpriced check card that charges them to spend their OWN money.
While I understand that we are in a recession right now and it truly has people in a bind, I think that most people could strongly benefit from getting their shit together, straightening out whatever issue they have with XYZ bank, and opening a bank account so that complaints like the one above won’t even matter.