Absolutely unnecessary solutions. The US Treasury is already plugged into FedNow to provide federal tax refunds instantly (20 second SLA) to demand deposit accounts. If someone is unbanked, bank them. There is no credit risk with instant payments; simply don’t allow overdrafts or otherwise extend credit on a deposit account. Don’t allow check deposits (see: check fraud at ATMs and mobile deposits with float).

If banks refuse FedNow support, make it a condition of their bank charter.

https://www.frbservices.org/financial-services/fednow/organi...

https://www.brookings.edu/articles/petition-to-bank-regulato...

https://www.fdic.gov/household-survey

Many unbanked persons are now enjoying the convenience of special debit cards.

Unemployment, SSI, welfare, payroll: you can get it all sent to a MasterCard or something; no "bank account" (checking) is necessary. SNAP is handled by their special EBT card.

It's not easy to live without a bank, but it is easy to be barred by adverse ChexSystems reports, etc.

My banking access was revoked for 3-4 years. I was lucky to regain it when employed; I qualified for Credit Union membership and absolutely free checking. Others are disenfranchised, and never given a second chance.

Those cards are commercial bank handouts. Bank accounts should be a utility.

I am working on the chexsystems issue, and am intimately familiar with the unbanked issue. Onward.