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(Engadget)   T-mobile to check cashing joints: ┌∩┐(◣_◢)┌∩┐   (engadget.com) divider line 49
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4737 clicks; posted to Business » on 22 Jan 2014 at 8:47 PM (30 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



49 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest
 
2014-01-22 09:03:04 PM
Good on em!
 
2014-01-22 09:05:20 PM
I want to know the ascii for that. It would make a great subject line for a certain co-worker.
 
2014-01-22 09:16:59 PM
But will the card work in rural areas?
 
2014-01-22 09:20:47 PM
Liking T-Mobile more and more. Hope Sprint does not buy T-Mobile.
 
2014-01-22 09:21:12 PM
A few years ago, I came up with a convenient way to judge the overall quality of a neighborhood:

Look for the following with 2 km.
1 point for every Check cashing store
1 point for every Pawn shop
1 point for every Pornography shop

If you arrive at a total score higher than 5, the neighborhood sucks, and if possible, live somewhere else.

END COMMUNICATION
 
2014-01-22 09:22:38 PM
Shouldn't those check cashing places be banned and shutdown? Where the hell are all the usury laws?
 
2014-01-22 09:25:39 PM
Check cashing for a percent or two is not the usury of the payday loan shop.

That being said, Tmobile is bringing us up to date with the payments system of Kenya.
 
2014-01-22 09:25:59 PM

Lord Zardoz: A few years ago, I came up with a convenient way to judge the overall quality of a neighborhood:

Look for the following with 2 km.
1 point for every Check cashing store
1 point for every Pawn shop
1 point for every Pornography shop

If you arrive at a total score higher than 5, the neighborhood sucks, and if possible, live somewhere else.

END COMMUNICATION


Do you live in a fairly rural area?
 
2014-01-22 09:31:13 PM

Lord Zardoz: 1 point for every Pornography shop


You know there's a cure for impotence these days, right?
 
2014-01-22 09:35:19 PM
Scores of such products (not-quite-checking debit accounts for the unbankable) already exist. One obvious comparison is Amex Bluebird, which is about the same except you can deposit cash at any Walmart (which the typical person visits more often than their nearest T-Mobile office, and has better hours).  If you're handling everything cash, money orders, and check-cashing joints it's because you're not really capable of handling anything else.
 
2014-01-22 09:41:45 PM
Target Builder:

Do you live in a fairly rural area?

Nope.

I came up with that when driving with a friend around Saskatoon, after seeing 4 check cashing stores, 2 porn shops, and 1 pawn shop, all within 3 blocks of one another in a rather dodgy neighborhood.

In any of the 'better' parts of any town I have lived in, none of these shops are anywhere close by in these numbers.  They always seem to cluster in shiatty neighborhoods.

END COMMUNICATION
 
2014-01-22 09:45:08 PM

antidisestablishmentarianism: I want to know the ascii for that. It would make a great subject line for a certain co-worker.


Copy/paste it. They're only characters.
 
2014-01-22 09:49:37 PM

Lord Zardoz: A few years ago, I came up with a convenient way to judge the overall quality of a neighborhood:

Look for the following with 2 km.
1 point for every Check cashing store
1 point for every Pawn shop
1 point for every Pornography shop

If you arrive at a total score higher than 5, the neighborhood sucks, and if possible, live somewhere else.

END COMMUNICATION


I think I would have gone with a way lower number on that. First off, even one porn shop would be too many, if there's a porn shop withing 2-3 miles, you're in the shiatty part of town. As for pawn shops and check cashing, I'd probably go with 2 in the general area.
 
2014-01-22 09:52:42 PM

Lord Zardoz: A few years ago, I came up with a convenient way to judge the overall quality of a neighborhood:

Look for the following with 2 km.
1 point for every Check cashing store
1 point for every Pawn shop
1 point for every Pornography shop

If you arrive at a total score higher than 5, the neighborhood sucks, and if possible, live somewhere else.

END COMMUNICATION


My metric has always been the number of shopping carts in the neighborhood. If you can see more than one of them on the side of the road in your neighborhood, you live in a terrible neighborhood.
 
2014-01-22 09:55:21 PM
Dear lord I can't stop laughing at that headline. Love it
 
2014-01-22 09:55:54 PM

Lord Zardoz: A few years ago, I came up with a convenient way to judge the overall quality of a neighborhood:

Look for the following with 2 km.
1 point for every Check cashing store
1 point for every Pawn shop
1 point for every Pornography shop

If you arrive at a total score higher than 5, the neighborhood sucks, and if possible, live somewhere else.


It's a poor heuristic.  I mean, it's a start.  But looking at my area, the worst "you're gonna get shot" parts of Kansas City (east of Troost) have virtually no check cashing stores or formal pawn shops.  I'm wondering if that's because most government transfers are card-based nowadays.  The shops are more common in working-class barely-holding-on suburbs than in the deep inner city.
 
2014-01-22 09:59:55 PM

ReapTheChaos: Lord Zardoz: A few years ago, I came up with a convenient way to judge the overall quality of a neighborhood:

Look for the following with 2 km.
1 point for every Check cashing store
1 point for every Pawn shop
1 point for every Pornography shop

If you arrive at a total score higher than 5, the neighborhood sucks, and if possible, live somewhere else.

END COMMUNICATION

I think I would have gone with a way lower number on that. First off, even one porn shop would be too many, if there's a porn shop withing 2-3 miles, you're in the shiatty part of town. As for pawn shops and check cashing, I'd probably go with 2 in the general area.


I would avoid the Bay Area if I were you. I would avoid all of it.
Actually... just stay out of California.
 
2014-01-22 10:05:21 PM

Lord Zardoz: In any of the 'better' parts of any town I have lived in, none of these shops are anywhere close by in these numbers. They always seem to cluster in shiatty neighborhoods.


Bad as in just really poor (with poor housing), or bad as in dangerous? Fresh out of college, I rented a room from a lady in a very low property value part of town. I never felt threatened or in danger, even when walking to and from there at night. Couple of liquor stores, a pawn shop, and some really run down grocery stores were within a 5 minute walk, but there wasn't a crime problem. Interracial neighborhood, mostly lower working class people. Fun to talk to, and certainly crappy living situations, but not dangerous.

Your mileage may vary.
 
2014-01-22 10:08:46 PM

Uchiha_Cycliste: ReapTheChaos: Lord Zardoz: A few years ago, I came up with a convenient way to judge the overall quality of a neighborhood:

Look for the following with 2 km.
1 point for every Check cashing store
1 point for every Pawn shop
1 point for every Pornography shop

If you arrive at a total score higher than 5, the neighborhood sucks, and if possible, live somewhere else.

END COMMUNICATION

I think I would have gone with a way lower number on that. First off, even one porn shop would be too many, if there's a porn shop withing 2-3 miles, you're in the shiatty part of town. As for pawn shops and check cashing, I'd probably go with 2 in the general area.

I would avoid the Bay Area if I were you. I would avoid all of it.
Actually... just stay out of California.


I have no plans of ever going.
 
2014-01-22 10:20:54 PM

Lord Zardoz: Target Builder:

Do you live in a fairly rural area?

Nope.

I came up with that when driving with a friend around Saskatoon, after seeing 4 check cashing stores, 2 porn shops, and 1 pawn shop, all within 3 blocks of one another in a rather dodgy neighborhood.

In any of the 'better' parts of any town I have lived in, none of these shops are anywhere close by in these numbers.  They always seem to cluster in shiatty neighborhoods.

END COMMUNICATION


Near my last apartment was "Good Vibrations", a sex store. But it was like a Hallmark card store, bright and sunny, only with condoms and (more words that may not be appropriate on this forum). The thing was, if you treat sex like a normal adult activity, and not something to be ashamed of, then you can have a normal store.
 
2014-01-22 10:28:04 PM

ReapTheChaos: Uchiha_Cycliste: ReapTheChaos: Lord Zardoz: A few years ago, I came up with a convenient way to judge the overall quality of a neighborhood:

Look for the following with 2 km.
1 point for every Check cashing store
1 point for every Pawn shop
1 point for every Pornography shop

If you arrive at a total score higher than 5, the neighborhood sucks, and if possible, live somewhere else.

END COMMUNICATION

I think I would have gone with a way lower number on that. First off, even one porn shop would be too many, if there's a porn shop withing 2-3 miles, you're in the shiatty part of town. As for pawn shops and check cashing, I'd probably go with 2 in the general area.

I would avoid the Bay Area if I were you. I would avoid all of it.
Actually... just stay out of California.

I have no plans of ever going.


apparently you'll be happier that way. which is too bad, it's a great place.
 
2014-01-22 11:10:56 PM

Lawnchair: Lord Zardoz: A few years ago, I came up with a convenient way to judge the overall quality of a neighborhood:

Look for the following with 2 km.
1 point for every Check cashing store
1 point for every Pawn shop
1 point for every Pornography shop

If you arrive at a total score higher than 5, the neighborhood sucks, and if possible, live somewhere else.

It's a poor heuristic.  I mean, it's a start.  But looking at my area, the worst "you're gonna get shot" parts of Kansas City (east of Troost) have virtually no check cashing stores or formal pawn shops.  I'm wondering if that's because most government transfers are card-based nowadays.  The shops are more common in working-class barely-holding-on suburbs than in the deep inner city.


that's cause in that part of town, they get robbed and close up shop
 
2014-01-22 11:46:49 PM

Sim Tree: antidisestablishmentarianism: I want to know the ascii for that. It would make a great subject line for a certain co-worker.

Copy/paste it. They're only characters.


I have thought the same thing, and I have copied and pasted it to my email for future use on a variety of irritating people.

It also works in Facebook comments, which is nice.
 
2014-01-23 12:12:15 AM
T-mobile is doing some cool groundbreaking things these days.   Everyone has to follow suit at some point or they'll just get all the market share.

This is a great idea,  as well as being able to photograph checks to have them deposited in your bank account.

On the other hand, why in the hell does the world still use checks??  I refuse to use them unless absolutely no choice.
 
2014-01-23 12:13:15 AM

buzzcut73: Sim Tree: antidisestablishmentarianism: I want to know the ascii for that. It would make a great subject line for a certain co-worker.

Copy/paste it. They're only characters.

I have thought the same thing, and I have copied and pasted it to my email for future use on a variety of irritating people.

It also works in Facebook comments, which is nice.


My low-tech version works on everything...

t(^^)
 
2014-01-23 12:56:05 AM

ReapTheChaos: I think I would have gone with a way lower number on that. First off, even one porn shop would be too many, if there's a porn shop withing 2-3 miles, you're in the shiatty part of town. As for pawn shops and check cashing, I'd probably go with 2 in the general area.



In Lucerne, Switzerland, a porn shop is literally a street away from the stores that sell expensive swiss watches and knives to the tourists and literally around the corner from a candy shop.  Couldn't really find a "bad" part of town in Lucerne but that area looked like the most expensive.
 
2014-01-23 01:28:46 AM

lindseyp: T-mobile is doing some cool groundbreaking things these days.   Everyone has to follow suit at some point or they'll just get all the market share.

This is a great idea,  as well as being able to photograph checks to have them deposited in your bank account.

On the other hand, why in the hell does the world still use checks??  I refuse to use them unless absolutely no choice.


Checks are still extremely useful for paying bills.  Mortgages/Rent, Water Bills, Visa/Mastercard Bills, whatever.. They serve as TimeStamped proof that payment was made on such-and-such date.

Bill Pay is nice for those merchants that are contained within the system, but those that aren't (and the bank has to "mail a check"), I prefer to write my own and mail it instead of trusting the bank to do it.

And of course, the millions of people who can't get a checking account for whatever reason (such as writing a lot of bad checks.. what do you mean I'm out of money? I still have checks left!) -- If they work for a company, that company will most likely pay them by check, since they can't direct deposit. And some small companies that do their own payroll won't do direct deposit anyway, they do all paychecks via check.
 
2014-01-23 01:49:12 AM

skinink: Liking T-Mobile more and more. Hope Sprint does not buy T-Mobile.


Sprint buying them would be the best thing to happen to the wireless industry in decades.

lindseyp: T-mobile is doing some cool groundbreaking things these days.   Everyone has to follow suit at some point or they'll just get all the market share.


They cannot sustain what they are doing. They are increasing cost per customer at a faster rate than they bringing money in. Case in point, they bring in 1.1 Million new customers but yet lost money overall.

They certainly are not bringing in enough to make acceptable upgrades to their network which is a distant 4th.

If they keep the attitude and use Sprints money to back their network, they can do good things.
 
2014-01-23 02:02:41 AM

lindseyp: On the other hand, why in the hell does the world still use checks?? I refuse to use them unless absolutely no choice.


I tend to get 1-2 a year, and write about the same.  I'm using my bank's mobile application for it.  Generally I get them for things like rebates/refunds(I find prepaid cards more hassle than they're worth), or something like paying some small business for work(like when I had my boiler replaced).

Of course, that probably comes under 'absolutely no choice'.
 
2014-01-23 03:19:54 AM

StopLurkListen: Near my last apartment was "Good Vibrations", a sex store. But it was like a Hallmark card store, bright and sunny, only with condoms and (more words that may not be appropriate on this forum). The thing was, if you treat sex like a normal adult activity, and not something to be ashamed of, then you can have a normal store.


Sex without shame? But then who gets flogged for being naughty?
 
2014-01-23 07:52:17 AM
How is this different from just any decent checking account?
 
2014-01-23 08:14:26 AM

BMFPitt: How is this different from just any decent checking account?


Some people can't get checking accounts for whatever reasons.  Banks deem them "high risk" or something.  I have no experience with this (no stories from friends or coworkers) so I can't relate any personal anecdotes, but I've read of it happening to poor individuals.

That said, this seems pretty altruistic on the part of T-Mobile.  Sure, it brings in customers, but it seems to essentially provide a service to the customer at no cost to that customer, which means T-Mobile bears the brunt of the expense.  If so, even if it's intended to build brand loyalty, good on them.
 
2014-01-23 08:57:00 AM

Skail: BMFPitt: How is this different from just any decent checking account?

Some people can't get checking accounts for whatever reasons.  Banks deem them "high risk" or something.  I have no experience with this (no stories from friends or coworkers) so I can't relate any personal anecdotes, but I've read of it happening to poor individuals.

That said, this seems pretty altruistic on the part of T-Mobile.  Sure, it brings in customers, but it seems to essentially provide a service to the customer at no cost to that customer, which means T-Mobile bears the brunt of the expense.  If so, even if it's intended to build brand loyalty, good on them.


I have heard plenty of that on Fark, but I am highly skeptical. There's no credit check with a normal checking account (unless you're adding an overdraft line of credit to it). They don't even ask about income. Go get a (formerly) ING Direct account and you get all the "benefits" of this card, as well as a nice mobile app that lets you deposit checks, do bill payment and person to person payments, etc.

Plus this card charges you fees for not being a T-Mobile cutomer, and TFA says nothing about FDIC protection or fraud liability.
 
2014-01-23 09:02:39 AM
I hear more and more banks are offering this take a picture of a cheque to deposit it into your account feature. I do wonder though, if you had two bank accounts from two different banks, if you tried to deposit the same cheque in both banks, how long would it take them to figure it out?
 
2014-01-23 09:05:30 AM

BMFPitt: There's no credit check with a normal checking account (unless you're adding an overdraft line of credit to it). They don't even ask about income.


It's called ChexSystems.  It exists.
 
2014-01-23 09:22:51 AM

BMFPitt: TFA says nothing about FDIC protection


Found this on:   http://newsroom.t-mobile.com/phoenix.zhtml?c=251624&p=irol-newsarticl e &ID=1892476

The card is issued by The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), pursuant to a license from Visa U.S.A. Inc and may be used everywhere Visa debit cards are accepted.  The Bancorp Bank; Member FDIC.  Distributed and serviced by Blackhawk Network California, Inc.

Does that mean an account is protected by the FDIC?
 
2014-01-23 09:35:22 AM

gnosis301: BMFPitt: TFA says nothing about FDIC protection

Found this on:   http://newsroom.t-mobile.com/phoenix.zhtml?c=251624&p=irol-newsarticl e &ID=1892476

The card is issued by The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), pursuant to a license from Visa U.S.A. Inc and may be used everywhere Visa debit cards are accepted.  The Bancorp Bank; Member FDIC.  Distributed and serviced by Blackhawk Network California, Inc.

Does that mean an account is protected by the FDIC?


Not looking that way.

http://www.fdic.gov/consumers/consumer/news/cnsum12/paymentcards.html
 
2014-01-23 10:52:55 AM

mechgreg: I hear more and more banks are offering this take a picture of a cheque to deposit it into your account feature. I do wonder though, if you had two bank accounts from two different banks, if you tried to deposit the same cheque in both banks, how long would it take them to figure it out?


Not long, if any time at all.  Float is dead.  Once the routing number, account number and check number is scan, it basically becomes an instant debit card transaction.  This is why at the store they now just scan the oldsters checks and give it back to them.  There is no processing anymore to speak of.
 
2014-01-23 11:30:21 AM

Lord Zardoz: A few years ago, I came up with a convenient way to judge the overall quality of a neighborhood:

Look for the following with 2 km.
1 point for every Check cashing store
1 point for every Pawn shop
1 point for every Pornography shop

If you arrive at a total score higher than 5, the neighborhood sucks, and if possible, live somewhere else.

END COMMUNICATION


What if it's only porn stores?
 
2014-01-23 12:25:39 PM

Lord Zardoz: A few years ago, I came up with a convenient way to judge the overall quality of a neighborhood:

Look for the following with 2 km.
1 point for every Check cashing store
1 point for every Pawn shop
1 point for every Pornography shop

If you arrive at a total score higher than 5, the neighborhood sucks, and if possible, live somewhere else.

END COMMUNICATION


Pornography shop-- as in a physical place to go and actually spend money on porn?

I guess if an area has no Internet, it's a pretty bad place indeed.
 
2014-01-23 12:27:41 PM

mootmah: Lord Zardoz: A few years ago, I came up with a convenient way to judge the overall quality of a neighborhood:

Look for the following with 2 km.
1 point for every Check cashing store
1 point for every Pawn shop
1 point for every Pornography shop

If you arrive at a total score higher than 5, the neighborhood sucks, and if possible, live somewhere else.

END COMMUNICATION

What if it's only porn stores?


If it is only port stores, then it is not so bad.

I think the shopping cart metric can be biased based on how close you live to a super market (ie, close enough that walking there is faster then driving due to not having to find a parking spot).  Some people are just lazy.  But if your more than 1 km from the supermarket and you have shopping carts all over the damn place, it is a pretty good indicator of sketchiness.

END COMMUNICATION
 
2014-01-23 02:22:55 PM

johnnyrocket: Shouldn't those check cashing places be banned and shutdown? Where the hell are all the usury laws?


It's logistically hard. NC banned them, so the payday-loan places just affiliated with national banks (who are exempt from State regulation) and kept right on operating. It would take a federal ban to do any good. Even then you'd probably just push the exploitation to some activity that manages to not fit into the definition of "payday lending" they ban.
 
2014-01-23 02:44:33 PM

lindseyp: T-mobile is doing some cool groundbreaking things these days.   Everyone has to follow suit at some point or they'll just get all the market share.

This is a great idea,  as well as being able to photograph checks to have them deposited in your bank account.

On the other hand, why in the hell does the world still use checks??  I refuse to use them unless absolutely no choice.


I agree. It'll be awesome when they finally get around to providing decent coverage.Been with them for 5 years, and their coverage is horrible.
 
2014-01-23 02:46:59 PM

ReapTheChaos: Lord Zardoz: A few years ago, I came up with a convenient way to judge the overall quality of a neighborhood:

Look for the following with 2 km.
1 point for every Check cashing store
1 point for every Pawn shop
1 point for every Pornography shop

If you arrive at a total score higher than 5, the neighborhood sucks, and if possible, live somewhere else.

END COMMUNICATION

I think I would have gone with a way lower number on that. First off, even one porn shop would be too many, if there's a porn shop withing 2-3 miles, you're in the shiatty part of town. As for pawn shops and check cashing, I'd probably go with 2 in the general area.


By your metric, the entirety of Portland, OR is the shiatty part of town.

Insert witty retort about how that's exactly what you meant here:
 
2014-01-23 03:02:20 PM

Gaseous Anomaly: johnnyrocket: Shouldn't those check cashing places be banned and shutdown? Where the hell are all the usury laws?

It's logistically hard. NC banned them, so the payday-loan places just affiliated with national banks (who are exempt from State regulation) and kept right on operating. It would take a federal ban to do any good. Even then you'd probably just push the exploitation to some activity that manages to not fit into the definition of "payday lending" they ban.


Plus people generally need money, even people with bad credit or have poor money management skills. Those people can't just apply for a credit card or walk into a bank and get a line of credit. So if you close payday loan places, those people are going start going to pawn shops, those places that essentially pawn cars, or Vito down the street when they need emergency cash.
 
2014-01-23 03:45:11 PM

Lith: Sex without shame? But then who gets flogged for being naughty?


Those who ask nicely.
 
2014-01-23 03:46:52 PM

mechgreg: I hear more and more banks are offering this take a picture of a cheque to deposit it into your account feature. I do wonder though, if you had two bank accounts from two different banks, if you tried to deposit the same cheque in both banks, how long would it take them to figure it out?


About 3 business days.  All banks and credit unions use ACH for clearing checks, and that system checks for fraud like this.
 
2014-01-23 07:57:39 PM

acohn: mechgreg: I hear more and more banks are offering this take a picture of a cheque to deposit it into your account feature. I do wonder though, if you had two bank accounts from two different banks, if you tried to deposit the same cheque in both banks, how long would it take them to figure it out?

About 3 business days.  All banks and credit unions use ACH for clearing checks, and that system checks for fraud like this.


USAA requires you endorse the check with your account number and "deposit to usaa only" or some such.
 
2014-01-23 08:07:53 PM
USAA requires you endorse the check with your account number and "deposit to usaa only" or some such.
 
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