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Wouldn't be surprised if banks or credit unions waved the fee as a benefit for their members
by candiddevmike 4y ago
Wouldn't be surprised if banks or credit unions waved the fee as a benefit for their members
- rexreed 4y agoThe fee is so minimal ($25/mo per bank / $0.05 per transaction) that any bank that even attempts to pass it through is really doing a disservice to their account holders. That said, I put nothing past Wells Fargo or Bank of America.
- aidenn0 4y agoGiven that the sender pays the bulk of the transaction fee, and smaller customers are more likely to send a lot than receive a lot, I suspect the $0.045 to be passed through. Of course, merchants might want to eat the fee by charging $0.045 less in order to encourage people to use this instead of credit cards (which are far costlier to merchants, and can incur chargebacks).