Hacker News new | past | comments | ask | show | jobs | submit login

Many banks, both historically and presently, have pervasive and capricious fees that disproportionately impact people with less money. Both because those fees are large relative to the amount of money they have, and because those fees arise in situations more likely to occur with less money (e.g. overdraft fees, policies that intentionally do withdrawals before deposits to cause overdraft fees, minimum balances, ATM fees, and many others).

And furthermore, the institutions more likely to be friendlier to customers with less money are sometimes also institutions on a smaller scale that may have a harder time offering some of the services of larger institutions (e.g. branch/ATM locations, compelling variety of credit and account instruments, investment arms, better online banking experiences).

To the extent this is changing, it also has to change in people's perceptions, in a fashion that makes it easier to predict and feel confident in.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: