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Compare cash to the walmart card: 1) walmart charges 3% for all purchases outside of walmart 2) walmart charges 1$ for all purchses 3) walmart charges 5$ mon

Compare cash to the walmart card: 1) walmart charges 3% for all purchases outside of walmart 2) walmart charges 1$ for all purchses 3) walmart charges 5$ monthly maintenance fee 4) walmart charges 3$ to 5$ per deposit 5) even to check account status costs 50cents Holding cash has none of these costs. I am not surprised that there is a large contingent of society that doesn't trust cards and banks.

hartator 8y ago
I was talking about prepaid debit cards which are basically gift cards. You also have proper debit cards without fees and anonymous: https://www.nerdwallet.com/blog/banking/nerdwallets-best-prepaid-debit-cards/ https://www.nerdwallet.com/blog/banking/nerdwallets-best-pre...
miohtama 8y ago
In European Union 1) Bank account is a right https://europa.eu/youreurope/citizens/consumers/financial-products-and-services/bank-accounts-eu/index_en.htm https://europa.eu/youreurope/citizens/consumers/financial-pr... 2) debit and credit card fees are capped very low http://www.thetravelmagazine.net/no-credit-debit-card-fees-europe-2018.html http://www.thetravelmagazine.net/no-credit-debit-card-fees-e... This does not remedy privacy issues, but in general is more democratic way of doing things. Card payment cap also effectively killed cashback cards and premium credit cards that largerly favour rich.
- CaptainZapp 8y ago
  2) debit and credit card fees are capped very low True, they try to compensate by pulling some other shitties. Like the old "Do you want to pay in your home currency?" crap. Worst are ATMs, which offer you to "conveniently guarantee a fixed exchange rate", which can be over 10% of the amount retrieved and - needless to say - which you should never accept.
  - miohtama 8y ago
    They do the same for US cards. EU regulation states that you need to at least give this choice for a consumer, and they cannot force you to take bad exchange rate. If I recall correctly EU might have given a slap on the wrist for AirBnB, as an US company, for not complying with this and forcing to pick bad USD rate. (I do not have source now, on mobile). So overall I think we can agree EU system with regulation is vastly better and less crooked for anybody else expect card issuers and payment processors.

hartator 8y ago

I was talking about prepaid debit cards which are basically gift cards. You also have proper debit cards without fees and anonymous: https://www.nerdwallet.com/blog/banking/nerdwallets-best-prepaid-debit-cards/ https://www.nerdwallet.com/blog/banking/nerdwallets-best-pre...

miohtama 8y ago

In European Union 1) Bank account is a right https://europa.eu/youreurope/citizens/consumers/financial-products-and-services/bank-accounts-eu/index_en.htm https://europa.eu/youreurope/citizens/consumers/financial-pr... 2) debit and credit card fees are capped very low http://www.thetravelmagazine.net/no-credit-debit-card-fees-europe-2018.html http://www.thetravelmagazine.net/no-credit-debit-card-fees-e... This does not remedy privacy issues, but in general is more democratic way of doing things. Card payment cap also effectively killed cashback cards and premium credit cards that largerly favour rich.

CaptainZapp 8y ago
2) debit and credit card fees are capped very low True, they try to compensate by pulling some other shitties. Like the old "Do you want to pay in your home currency?" crap. Worst are ATMs, which offer you to "conveniently guarantee a fixed exchange rate", which can be over 10% of the amount retrieved and - needless to say - which you should never accept.
- miohtama 8y ago
  They do the same for US cards. EU regulation states that you need to at least give this choice for a consumer, and they cannot force you to take bad exchange rate. If I recall correctly EU might have given a slap on the wrist for AirBnB, as an US company, for not complying with this and forcing to pick bad USD rate. (I do not have source now, on mobile). So overall I think we can agree EU system with regulation is vastly better and less crooked for anybody else expect card issuers and payment processors.