The Feminist Financial Handbook by Brynne Conroy

Author:Brynne Conroy [Conroy, Brynne]
Language: eng
Format: epub
ISBN: 9781633538092
Publisher: Mango Media
Published: 2018-09-18T15:04:37+00:00

How do name and gender marker laws affect your money?

You may be wondering why legal names and gender markers on official documents are such a big deal. What bearing could they possibly have on your financial life?

As it turns out, there are tons of real-life implications. “The simple fact that our ID doesn’t have our chosen name on it creates problems,” says Perry.

Imagine going to purchase alcohol and being carded. If you don’t look like the name on your ID, a cashier may deny you purchase. Even items that aren’t restricted by age can be difficult to purchase if the cashier thinks your appearance doesn’t correspond with the name on your credit or debit card.

Getting that debit card can be difficult in the first place. Banks follow strict “Know Your Customer” (KYC) rules, requiring you to verify your identity seven ways to Sunday. If the person reviewing your application thinks things don’t line up, you’ll have problems opening an account. Or if your state won’t let you change your name, you’ll be forced to do all of your financial transactions under your dead name—the name you were assigned at birth. This outs you each and every time you make a financial transaction—whether you’re comfortable with it or not.

“It’s not the greatest work-around, but the way I did it when I couldn’t open up a checking account was a prepaid debit card,” says Perry, offering a temporary though undesirable solution. “It’s not the greatest way because there may be a fee to keep your money there. There may be a fee whenever you reload.”

You may also still run into the ID problem, as Perry once did.

“If you use debit or credit, they will ask to see your ID, and there’s not always a name on that prepaid debit card. It said, ‘Valued Card Holder,’ on one I used last year. Some cashiers will let it slide, but others will say, ‘Nope, sorry,’ and deny you the purchase.”

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