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You don’t have to deposit it, you can just keep it under your mattress for no fee
by mattclarkdotnet 4y ago
You don’t have to deposit it, you can just keep it under your mattress for no fee
- paranoidrobot 4y agoThe context is commercially relevant. As a regular consumer you can deposit cash without additional fees. If you're running even a modest business, keeping large amounts of cash on-hand for any length of time is a business risk. Some vendors may not want to be paid in cash, particularly for larger payments. Depositing it is the only way to deal with a lot of things.
- TedDoesntTalk 4y agoWalmart, Target, McDonalds branches deal with so much cash that they would need at least two mattresses.
- inopinatus 4y agoWalmart & Target also sell mattresses, making them a vertically integrated financial services provider.
- franga2000 4y agoThe thing is, a business is already paying for (example from my bank): - bank account fee - online and mobile banking fees - card "membership" fee - individual payment fees - ATM fees - incoming card payment fees - [probably more] And the bank is already making money by lending out my money to others and charging interest. I'm not saying none of those fees are justified, but at some point you have to ask: have they not taken enough??
- remram 4y agoThey could increase the bank account fee and waive the cash handling fee. That would make no difference to them, but that means every business customer is now paying for part of the cash handling, even if they don't deal in cash themselves. Why not itemize?
- djbebs 4y agoOften you're not legally allowed to spend it if you do that.