S.C.'s new debit card program is a double edged sword

Image by Flickr user catatronicImage by 20090616-debit.jpg

The S.C. Department of Social Services' new debit card program allows JP Morgan Chase to dip their hand into the accounts of the state's lowest-income families.

Safer and more convenient than checks, the new program credits participants in the Family Independence Program with funds whenever benefits are due. On the other hand, the savings don't mean much when banks charge hidden fees that take a big bite out of accounts that are already struggling to begin with.

The State has the full story.

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