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Not anywhere close to 3%. And anecdotally, I've never had anyone complain when I handle them a bundle of $20 bills. Many banks don't charge fees for using mac
by bcg1 11y ago
Not anywhere close to 3%. And anecdotally, I've never had anyone complain when I handle them a bundle of $20 bills.
Many banks don't charge fees for using machines that count coins that are dumped into them. However, some big banks are charging customers who deposit lots of cash. At one major bank, there's no fee for the first $10,000 deposited. After that, you'll pay 20 cents per $100. [1]
[1]: http://www.bankrate.com/finance/banking/sneaky-bank-fees.aspx http://www.bankrate.com/finance/banking/sneaky-bank-fees.asp...
- acveilleux 11y agoThat link only applies to consumers. My bank generally charges 0.225% on bank notes deposits and 2.25% on coins deposit for commercial customers. The max per month without fees is 1000$, coins always have fees. My bank is one of the big 5 canadian bank with assets in management over 500B$. If you need to contract an armored courrier to move that cash, that's an extra very significant fee.
- bcg1 11y agoStill not anywhere close to 3%. And I'm not arguing that electronic payments don't have merit; just that the elimination of cash does not have appreciable merit to be feasible.