After Hurricane Katrina in New Orleans in August 2005, having a bank account proved a big advantage to individuals and families trying to get back on their feet and re-establish a firm financial footing.
The 17.5 minute video profiles actual and dramatized families who learn about the importance and benefits of having a bank account, including a place to receive both regular and storm-related payments; safe, convenient, and quick access to their money; automatic bill-paying; on-line banking; and encouragement to save. The video points out that services differ from bank to bank, so that consumers should shop for the best deal. It also observes that not having a bank account can be expensive because of check-cashing costs and the like. Consumers who use their bank account carefully and avoid overdraft fees will likely find it costs less than not having a bank account.
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