2 ms·
i suspect its a combination of (1) 6 month treasuries are yielding ~2.5% (2) they are getting revenue share from interchange fees on spending that they are pass
by cascom 8y ago
i suspect its a combination of (1) 6 month treasuries are yielding ~2.5% (2) they are getting revenue share from interchange fees on spending that they are passing on in the form of interest as opposed to some cash back/rewards program
- arcticbull 8y agoI’d imagine Sutton Bank, issuing their debit cards, is small enough to be Durbin-exempt which means they can charge full credit card interchange rates instead of the few cents per transaction the big guys are capped at. They can also collect data about their customers to offer lending products down the road like Mint does, so it can even be a marketing expense.