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>Cash: no fee Because it just magically transfers from your register to your bank account? :) >It was something like 1% vs. 3% (approximately(!), just to give

>Cash: no fee Because it just magically transfers from your register to your bank account? :) >It was something like 1% vs. 3% (approximately(!), just to give an idea of magnitude). I know, but by now it is down to 0.9% for most retailers so not accepting credit cards is always an interesting decision. >most credit cards cost a yearly fee of 20-70 Euros or so When you get a card to collect airline miles or get the card from your bank. Most other banks (Advanzia, Barclaycard, LBB) charge nothing for it, but make up by charging high interest rates. Still most have an interest-free period, which can be beneficial for consumers. > zero reason to point to convenience. Regular cards still don't support contactless. Just tapping your card is vastly better than entering your PIN or signing. A lot of retailers in Germany support it.

Noseshine 10y ago
> Because it just magically transfers from your register to your bank account? :) No, there is no fee on that transfer. And please don't tell me "but the effort!". Small businesses gladly go through that "effort". Not everybody is Amazon. You just empty the cash register and bring it to the bank. Not exactly dangerous around here either. > Regular cards still don't support contactless That is not exactly something worth mentioning as great "convenience". Even if you find a store where that is used at all, that's like 0.001% of the effort of going shopping.
- MrFoof 10y ago
  >No, there is no fee on that transfer. And please don't tell me "but the effort!". Small businesses gladly go through that "effort". Well, there usually is a fee. At least here in the US, business bank accounts get cash handling for free up to a certain amount per month. After that you're charged a small fee (as a percentage) on the amount of cash deposited, because the bank sure as hell isn't counting your cash for free.
  - egeozcan 10y ago
    > the bank sure as hell isn't counting your cash for free I thought there is a machine for that? Also, isn't it possible just to use an ATM?
    - MrFoof 10y ago
      Every bank I checked (and I checked DOZENS) charges business customers to count cash beyond a certain amount. For my business, the amount is cash in excess of $20,000/mo. Yes, they do use a machine. Yes, they still do charge you for it to count your money if you bring in more than that threshold in a given month. This is for business accounts, which have vastly different fee structures than consumer accounts, because businesses have more money, and also because it costs them money (either in employee time, or having machinery available). Do you let your customers use your time and stuff for free? No? Then why should the bank? Hence why they charge.
      - egeozcan 10y ago
        Well, I think it depends. Accepting capital and selling a fraction is how banks make most of their money. Making that process as frictionless as possible would make sense but if all of them are doing that, then there's probably some cost associated that I can't estimate properly.
Noughmad 10y ago
My bank card in Slovenia is contactless. This has nothing to do with it being a credit card or not, although some bank only offer contactless credit cards.
- thesimon 10y ago
  I am aware of that, but the biggest German banks only use their own scheme instead of Visa/MasterCard which doesn't support contactless at the moment. Visa/MasterCard debits are extremely rare in Germany.
mamon 10y ago
> Regular cards still don't support contactless Oh, I realy miss this. In my country it is impossible to find a normal card, all are contactless by default. Even if you'd like to get a normal one for security reasons you can't - banks don't offer them.

Noseshine 10y ago

> Because it just magically transfers from your register to your bank account? :) No, there is no fee on that transfer. And please don't tell me "but the effort!". Small businesses gladly go through that "effort". Not everybody is Amazon. You just empty the cash register and bring it to the bank. Not exactly dangerous around here either. > Regular cards still don't support contactless That is not exactly something worth mentioning as great "convenience". Even if you find a store where that is used at all, that's like 0.001% of the effort of going shopping.

MrFoof 10y ago
>No, there is no fee on that transfer. And please don't tell me "but the effort!". Small businesses gladly go through that "effort". Well, there usually is a fee. At least here in the US, business bank accounts get cash handling for free up to a certain amount per month. After that you're charged a small fee (as a percentage) on the amount of cash deposited, because the bank sure as hell isn't counting your cash for free.
- egeozcan 10y ago
  > the bank sure as hell isn't counting your cash for free I thought there is a machine for that? Also, isn't it possible just to use an ATM?
  - MrFoof 10y ago
    Every bank I checked (and I checked DOZENS) charges business customers to count cash beyond a certain amount. For my business, the amount is cash in excess of $20,000/mo. Yes, they do use a machine. Yes, they still do charge you for it to count your money if you bring in more than that threshold in a given month. This is for business accounts, which have vastly different fee structures than consumer accounts, because businesses have more money, and also because it costs them money (either in employee time, or having machinery available). Do you let your customers use your time and stuff for free? No? Then why should the bank? Hence why they charge.
    - egeozcan 10y ago
      Well, I think it depends. Accepting capital and selling a fraction is how banks make most of their money. Making that process as frictionless as possible would make sense but if all of them are doing that, then there's probably some cost associated that I can't estimate properly.

Noughmad 10y ago

My bank card in Slovenia is contactless. This has nothing to do with it being a credit card or not, although some bank only offer contactless credit cards.

thesimon 10y ago
I am aware of that, but the biggest German banks only use their own scheme instead of Visa/MasterCard which doesn't support contactless at the moment. Visa/MasterCard debits are extremely rare in Germany.

mamon 10y ago

> Regular cards still don't support contactless Oh, I realy miss this. In my country it is impossible to find a normal card, all are contactless by default. Even if you'd like to get a normal one for security reasons you can't - banks don't offer them.