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$1 fee per transaction. Done entirely by computers. In huge volumes. There is no reason that entirely electronic transactions should cost more than fractions o
by crdunwel 12y ago
$1 fee per transaction. Done entirely by computers. In huge volumes.
There is no reason that entirely electronic transactions should cost more than fractions of a penny to process. Any justification for this cost is complete bullshit.
- matthewarkin 12y agoWelcome to the banking system. If they're going threw the debit card channels, through Visa, they might charge a fee, Balanced's bank may charge a fee, Balanced has to pay its employees, pay for hosting its servers, make sure they are PCI compliant, etc.
- crdunwel 12y agoSounds like a lot of bloat and over exaggeration on the part of banks and credit card companies for how much all these things cost. They're still making a killing...
- jareau 12y agofraud is often priced into these systems since most payments instruments in the US aren't push-only. Sorry if it sounds like I'm justifying...