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I don't disagree with your points around the public policy goals of currency, but suggesting that minimal balance / monthly fee requirements come from AML/KYC r

I don't disagree with your points around the public policy goals of currency, but suggesting that minimal balance / monthly fee requirements come from AML/KYC regulations is quite the stretch. I'd wager those come from greed, pure and simple. The banks charge those fees because they can. If we got rid of AML/KYC regulations and reduced the banks' costs around regulatory compliance, do you think the banks will pass the savings onto customers or pocket the difference? I know where I'm putting my bet.

AnthonyMouse 8y ago
> If we got rid of AML/KYC regulations and reduced the banks' costs around regulatory compliance, do you think the banks will pass the savings onto customers or pocket the difference? The existing banks, on their own? Surely not. But complicated and expensive regulations like that are the main reason we don't have more, smaller banks, and they would be happy to gain customers by charging lower fees. Then the existing banks would have to compete and do the same.