Carlos is a Contractor and he just got paid $5,000 for a recent job.

Six percent of adults in the U.S. are “unbanked,” meaning they don't have a checking, savings, or money market account. Not having a bank account can occur for many reasons, including having negative items in your ChexSystems report, not wanting to pay the fees that come with a traditional bank account, or facing local bank branch closures. But it often necessitates using alternative financial services to complete basic transactions like cashing checks⁴.