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The high cost for fraud and fees for the 'unbanked'
Fox 5 Atlanta
ATLANTA - The FDIC reports that about 6 million Americans are "unbanked." That means they have no savings or checking accounts. This kind of money management can be unsafe and expensive.
Households categorized as unbanked still get paid. They still have to cash checks, and to pay bills. But, generally, those millions of people use substitute services that cost them a lot of money in fees.