Laid-off workers seeking unemployment benefits often face stringent requirements. Regardless, access to even limited social welfare is a blessing for workers during times of economic crisis.
States recently began offering the unemployed debit cards with direct-deposit accounts set up at banks like Wachovia, recipients of trillions of bailout dollars. The debit cards are issued to ostensibly speed access to benefits.
But, the cards come with a number of associated fees—for account inquiries, overdrawn accounts, out-of-state withdrawals and customer service. Workers often learn about the fees—which can sometimes be as high 3 dollars for a single transaction—only after they sign up for their cards.
The constant drive for increasing profits of the big banks and corporate owners is the source of the recession that has put millions out of work. Now, the banks have come up with a way to profit off even unemployment benefits—another form of bank bailout with taxpayers’ money.
