I only use banks with free checking or interest bearing checking accounts. Usually $100 minimum. My main bank has 2 accounts, one strictly for my direct deposits. After its deposited I move it to another account or usually just get the cash and keep it in my safe.
With the economy like it is and with banks having fractional reserve banking where they only have to have 8% in cash to cover withdrawals, they can get into a bind in a hurry is deposters get spoked. The fed is talking about lowering the reserve requirement to 0%.lol
killerweed420 Reviewed by killerweed420 on . Bailed out banks won't cash SS checks Today, after waiting I finally got my first SS check. Now, since I've been on the ropes for almost the past year, and not having a bank account I tried to cash a fat Social Security check. With my drivers license, passport and social security card, I went to two banks. The first one was Chase, you know the New York bank that acquired WaMU after they went under. Chase, who has taken billions in bail out money from the taxpayer, refused to cash my check unless I opened an account. I told Rating: 5