According to the 2005 U.S. Census Bureau report, there are 37 million Americans identified as poor, up from 35 million in 2002. The Federal poverty definition of poverty is $10,210 for singles, $13,690 for couples, and $17,170 for a family of three. The poor people in America work, they make, according to http://www.povertyinamerica.ps u.edu, less than $9.00 per hour. There are many professions, service jobs, dental hygienists, school lunch ladies, retail sales persons, and skilled labor positions that fall within this category. The poor as identified here have a paycheck that must be cashed.

The answer to the question of "is a bank account worthwhile for poor people?" should be a resounding yes if the centuries-held belief in this country is that America is a place where all people can ascend the class ladder. A bank account represents ownership and control. Ownership is something important if a person has been disenfranchised. A poor person or family that possesses a bank account is not prey to the check-cashing establishments, payday loan businesses, and rent-to-own companies that litter poverty-striken neighborhoods.

There are banks and credit unions that offer free checking. Bank of America is one of the best banks I've found for poor-middle income individuals. There is not a minimum required for a basic checking account as long as there is direct deposit. The poor who would consider an account include those who work in lower pay positions. A savings account can also be opened with a minimum deposit. Credit unions are also great places for poor people to begin enfranchisement.

A bank account, particularly a checking account with a debit/credit card opens many opportunities for poor people. According to http://www.heritage.org/resear ch/welfare study on poor people in America, they are hardly "impoverished" when compared to other nations. In this country, 3/4 of poor people own a car, 30% own 2 or more, 77% have a TV, 78% have VCR or DVD, 62% have cable or satellite, 46% own a home defined as 3 bedroom, 1 1/2 baths, garage, porch, 76% have air conditioning, only 6% are overcrowded, and the average poor person in America has more living space than the average person in Paris, London, or Vienna. With this in mind, poor people are engaging in the economy and are engaging in exchange. A checking account just makes sense.

A bank account provides a poor person an opportunity to pay bills with checks or through online banking.

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