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"Directly"? Isn't the point that they get to invest the money their customers add to their cards, for whatever time Starbucks hold it? That some customers also
by eszed 3y ago
"Directly"? Isn't the point that they get to invest the money their customers add to their cards, for whatever time Starbucks hold it? That some customers also fail to redeem the balance is for them a bonus, but not what the "Starbucks is a bank" comment addresses.
- lxgr 3y ago> That some customers also fail to redeem the balance is for them a bonus Starbucks does not get to keep unredeemed balances indefinitely in most US states!
- eszed 3y agoOh? I did not know that. What happens to un-redeemed balances? After how long? Regardless, the underlying point remains. They'll profit from the float until whatever it is they have to do happens.