People on the lower rungs of society can get access to free banking.
In the USA at least, it can be difficult to get a bank account if you don't have much money. And since companies don't like writing checks, people working jobs at the lower end of the economic latter have to get special "paycheck cards" that extract relatively large fees for the service they offer.
Imagine making poverty wages, yet 2-5% of your paycheck is taken from you as a fee for not having a bank account (which you don't have because you make poverty wages).
In theory. In practice even with a valid US passport in hand you won't pass KYC without proof of address. To get an address costs either money to get a place or lots of time spent with social workers, assuming they're even accessible, to get the legally valid evidence of a homeless shelter as your address.
Additionally, when I was living in poverty at least I often was living in legally precarious housing with no mail access and landlords that didn't want any "on-the-record" evidence and thus no proof of my address. KYC is a big expensive burden on the poor that blocks banking access.
Tell that to people who spent years unbanked, cashing their paychecks at a van that would pull into the factory parking lot on payday, like me 20 years ago.
In the USA at least, it can be difficult to get a bank account if you don't have much money. And since companies don't like writing checks, people working jobs at the lower end of the economic latter have to get special "paycheck cards" that extract relatively large fees for the service they offer.
Imagine making poverty wages, yet 2-5% of your paycheck is taken from you as a fee for not having a bank account (which you don't have because you make poverty wages).