Debanking on wikipedia

So with the new regime executive order declaring it essentially illegal to be unhoused, people at risk might be thinking, “how do they classify me as homeless if I am surfing between friends or family or shelters?”

One of the big answers to this is the practice of debanking. If your financial institutions catch wind that you don’t have a stable address, they will try to close your accounts and send your balance as a cashier’s check to your last legal address. At-risk people understand the many, many scenarios where even just this process could be devastating.

Some unexpected ways you can get de-banked:

  • your apartment doesn’t have a legal address

  • you lose home owner’s insurance or your coverage changes and your bank decides it doesn’t like that

  • your building’s owner defaults

  • fire

  • flood

You may be at risk and just now realizing it. If you have an MH diagnosis and you don’t have two back-up legal addresses, you are on this Ex O.

Anyway, do not get debanked. Have legal address back-up plans EVEN IF YOU TRY TO FLEE THE COUNTRY because you do not want the regime classifying you as someone they want to put in the camps.

Sorry for another US-centric post.

  • RedC@sh.itjust.works
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    1 day ago

    I have to say I agree here, hell I’ve never updated one of my open bank accounts. It still has me under my mother’s old house from when I turned 18, and I’ve moved at least 10 times since then. I’ve also helped/worked with/am friends with plenty of unhoused or at risk folks and never heard of being 'debanked. Now if OP wants to talk about getting accounts or your ID in the first place while being unhoused then that’s a different story. Plenty of times I’ve seen it be next to impossible to get these things w/o an address. Not so much maintaining it w/o an address.

    Although im sure anything is possible, so I wont discount it completely.

    The term has gained traction after being discussed on a November 2024 The Joe Rogan Experience podcast with investor Marc Andreessen, in particular with respect to cryptocurrency assets.

    Yeah im not buying it, but the next line says instances of Muslim people having accounts closed have been covered by media. Although that’s shaky at best. What media? Who specifically? Im not convinced that this even happens often enough for people to clutch their pearls

    Edits: that claim to “Muslim money” is cited and links to an ebook about Canadian Islamophobia, but its using this book as a source to say Muslim accounts get closed in the USA and its covered by “media”

      • aow@sh.itjust.works
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        4 hours ago
        1. use an address you can access for at least a week
        2. get your initial documents
        3. go paperless and have the mail all RTS

        Job done, nobody will bother you and you can use electronic statements as proof for accounts. Just don’t commit fraud with them and nobody cares.

      • RedC@sh.itjust.works
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        7 hours ago

        I mean she might have if she still lived there smartypants. She lives in a trailer now. Bold of you to assume any of my family still lives there lmao

    • locuester@lemmy.zip
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      1 day ago

      This is just disguised anti-Trump nonsense under a veil of bits of facts tossed around. This is the equivelant of the right claiming that Joe Biden is wearing a mask. Ppl on the fringe are crazy.

      • ordinarylove@lemmy.blahaj.zoneOP
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        23 hours ago

        Sorry where did I disguise my anti-regime feelings, here? This is an anti-regime post. I am not crazy. I am your enemy.

        • locuester@lemmy.zip
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          21 hours ago

          You’re not my enemy. You’re batshit crazy, but definitely not my enemy.