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.
COMMENTS
Agreed. If more people had accounts with a bank instead of keeping their money in a crown royal bag, they wouldn’t have an issue. That’s crazy.
I mean, while I personally have never seen the point of the rush card, I’ve never looked at it as a scam either.
I hadn’t really realized, nor had I thought about the number of people who don’t have bank accounts. What’s the problem?!
J. Kitch:Preach! I will never understand a pre-paid debit card. Like you said, why would I pay a fee to spend my own money?? That’s a big, fat hell naw!
Most banks and credit unions today offer free, online banking so you can almost always check your balance at any point in time. And most institutions allow you to cancel the overdraft “protection” they have, so if you don’t have the money in the account you won’t be able to purchase the item, thus preventing overdraft charges.
La Vivi:I definitely read this and thought the same thing, get a bank account its not that hard.
On another note, I think I am going to stop reading sandrarose, I can’t stand her absolutely ignorant Obama-bashing, which has included implying that he is hiding the fact that he is a muslim, not american etc. Its just annoying and redundant at this point.
what do you think?
PASSYNBI:I am so sick & tired of "America" throwing pity parties & complaining about this, that, & the other. READ THE FINE PRINT PEOPLE!!! I have a nice pretty pink Rush Card (that has never been activated) @ home because I initially thought it would be a great idea to save money, but when I have 2 checking accounts & 2 savings accounts, I WILL NOT pay Mr. Simmons a $20 yearly fee to utilize that card. That's it, that's all, no complaints, it is what is it, I ain't going! You are hit with NSF (NON-SUFFICIENT FUNDS and if you still don't get it AIN'T NO MONEY ON THIS CARD, BUT YOU STILL USING IT LIKE IT IS!!!) fees when you overdraw an account. It can also happen with a checking as well. As for being charged to use the card, I'm 124% certain, IT'S IN THE FINE PRINT!!! Instead of complaining, why not come up with your own idea about how you can help yourself & others save money instead of losing! We have got to do better people…starting NOW!!!
Matthew Milam:Sandra Rose is actually sad when you think about it. But then again, she’ll get far more readers because of her ignorance and not really because she says anything good.
hottnikz:Well the first time I read her blog was the last time I read it. I forgot what I was reading but it obviously didn’t sit right with me, so I never went back.
I do own a prepaid card but not a Rush card. I do own a bank account which includes a savings account only. I have no need to cash a check because I have direct deposit. I used to have checking years ago, but my accounts was compromised not once but twice. 
I was wiped out both times. Anyway after a lengthy process I got my name clear and never opened another checking account again. That took a lot of precious time, money, and effort. I’m too scared to have a debit card that’s attached to my bank account, so I go the pre-paid route. My card does not have a yearly fee, and I’ve had my card for a couple of years now. I only use it for online transactions. They charge you $3 to load money and $1 per transaction. I’d much rather live with those fees than to go through the bullshit again, so I’m good with that.
I agree check cashing places are there basically to take advantage of the poor, as they don’t even exist in the privileged neighborhoods. That prepaid card is the only business I have with them though. I think those cards are cool, you just have to shop around for the best deal like anything else.