Gift cards, Budgeting, etc.

College Students, mainly who's parents don't trust them with cash or would like to track there spending. Also gives the parents more security than having a bank account that could possibly be over drawn.

Maybe people who have no credit history, trying to establish some - or buy things where credit cards are the only form of payment accepted.

 

banks/creditunions wont let some people open bank accounts even if they have cash?? i opened up my first checking account at Bank of America with a measly $700 when i was 17. i had zero credit history and all of $700 cash to my name :hs:

 

Not if you have a history of overdrafts, hot checks, or some other form of abuse.

Seems to be common with the people that don't know how to use a ledger or at least know what they've spent.

 

I opened my first bank account with something like $5.00 but that was back when the banking industry wasn't charging a $5.00 fee for everything. We didn't have bankcards back then either, and gas was 19 cents for a gallon of regular and Sunoco 260 was a 25 cents a gallon.

 

gift cards!

 

I think its for people with really bad credit and also I think its a good idea for online accts I never want to use my acct online but if its only a couple bucks I dont mind

 

$700??? hahahahah i opened my first account with a truly measly amount of $35.00