Immigrants are often afraid banks will keep their money, so they keep it at home or in their pocket. They have to pay very high fees when paying their bills and cashing paychecks. This program is helping them learn about banking. - - Donna Poisl
The initiative aims to help 10,000 people end their dependence on check-cashing outlets before the end of the year by reducing the cost and simplifying the process of banking.
By Alexandra Zavis
Juan Murillo used to spend hundreds of dollars a year at check-cashing outlets because he was too intimidated by the U.S. banking system to open an account and did not speak enough English to write a check himself.
When he finally summoned the courage to open a checking account at Bank of America, he found that he could withdraw cash, write checks and transfer money to his family in Mexico at no additional cost. And the best part, he said, is that "my tax refund is deposited directly into my account."
Be sure to read the rest of this story! This is only a small part of it.
This country was built by immigrants, it will continue to attract and need immigrants. Some people think there are enough people here now -- people have been saying this since the 1700s and it still is not true. They are needed to make up for our aging population and low birthrate. Immigrants often are entrepreneurs, creating jobs. We must help them become Americans and not just people who live here and think of themselves as visitors. When immigrants succeed here, the whole country benefits.
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Hi, if anyone applied for the H1-B visa, please take the 3-question survey. We are students doing a research on H1-B applicant.
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