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> Pushing them to NEED to use a profit driven banking system. Profit driven, but available literally for free for an account and transfers (depending on the ba
by sofixa 4y ago
> Pushing them to NEED to use a profit driven banking system.
Profit driven, but available literally for free for an account and transfers (depending on the bank).
> To have data mined and sold.
GDPR says no.
> To rely on “too big to fail” banking systems that practically schedule economic downturns every 20 years or so.
We're talking about the EU here, not the US. There are a ton of challenger new banks.
- BlargMcLarg 4y ago>GDPR says no. GDPR isn't infallible. The EU and its individual countries have plenty of controversies. >ton of challenger new banks. Ton is a gross overstatement. It's a few that are truly independent from anyone else. The remainder are puppet / daughter banks. Their existence barely influences the status quo and it certainly doesn't prevent outrage whenever banks used by over half the country's population threaten to fall.
- ilyt 4y ago> Profit driven, but available literally for free for an account and transfers (depending on the bank). So not for free. It would be one thing if banks had to guarantee those transactions being free but many banks want % of transaction in fees
- sofixa 4y agoThat's what i mean, bank transactions in the SEPA space are free at the point of use. The only exception is certain banks add fees for SEPA Instant (transfer time in seconds instead of days) and fees for exchanging between currencies.
- omginternets 4y agoMost of those challenger banks are backed by old school banks.