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The article the commenter linked is almost entirely about debit cards. The bank has to make money somehow to pay for things like fraud and auditing.
by Ilverin 3y ago
The article the commenter linked is almost entirely about debit cards. The bank has to make money somehow to pay for things like fraud and auditing.
- coding123 3y agoMake money on savings interest and mortgages?
- denimnerd42 3y agowhich poor people don't have
- HDThoreaun 3y agoThere are plenty of ways for banks to make money off poor people. Some banks might defect, but the banking market is competitive, others will step in.
- rhyswallace 3y agoIn the EU, debit cards (with EU-capped interchange, and no debt mechanism) are the majority, and there's nothing that points toward that limiting low-income populations' access to banking or card networks. Can't speak here for entire EU, only France, but opening a bank account or getting a basic debit card requires no minimum proof of income, and typically have no fees associated. No financial barrier to entry for any population segment.