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Plus, every electronic form of payment includes fees. Their sole purpose of existing is to collect fees to pay the owning company's investors. The effect is t

Plus, every electronic form of payment includes fees. Their sole purpose of existing is to collect fees to pay the owning company's investors. The effect is that in the middle of all monetary transactions, there is a mandatory and forced private profit scheme. That's insane. Cash is free to use, and bears no intrinsic fees. The same is often true of personal checks in the USA. While these are the most labor intensive ways of transferring money, they don't incur any intrinsic shrinkage in their use. All the digital and fully automated systems of transferring money are more expensive at face value.

shoover 11y ago
True. PayPal is currently free for interpersonal payments, but who knows in the future. Now that banks are not processing so many checks they have to compete using their own "easy pay." Chase has QuickPay, which I haven't used because it's yet another network, but it is free to send money to someone at Chase or another bank in the ClearXchange network. Maybe if they can stay in the game and expand their interoperation payments will stay free.