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Employers Switching From Payroll Checks To Prepaid Cards With Fees
An anonymous reader writes "The New York Times reports a growing number of American workers are being paid by prepaid payroll card. The cards often have fees attached to basic services like making a cash withdrawal or for inactivity. Some employees report that the employers pay by card by default, with paperwork barriers to opting out, and some report that their employers refuse to pay them by check or direct deposit. The issuing banks pitch the cards to employers as a cost-cutting payroll alternative, and sometimes even offer a financial reward for each employee they sign up."
So, why are we complaining about the evil employers trying to keep their costs under control and the only problems mentioned are because it will hurt idiots who have not grown up and learned how to be responsible for themselves.
I can see the future discussion of this in the political arena as the liberals realize that check-cashing is a "fundamental human-right" and pass a 1200 page bill restructuring the entire banking system without a single one of them ever reading a single page of the bill.
The only problem then will be that all of us who used to get along fine with our finances will now have to report to the IRS all kinds of information about all of our accounts. And things like PayPal and Bitcoin exchanges will disappear as they won't be considered acceptable. And anyone getting a bunch of benefits without paying high enough annual fees will get taxed extra for having "cadillac" accounts.