Comment Re:Who gets the float...as if I need to ask (Score 1) 661
I suspect that the banks are not getting money from the customer as a result of recharge fees - that would ensure that the cards have extremely poor takeup. Rather, the better move would be to have merchant fees as with existing Credit Cards.
As for using your ATM card, do you never carry cash around at all? I'm sure there's got to be a $20 in your wallet somewhere sometime, right? If you've got that in your wallet, neither you nor the bank is getting that earning power, so what do you lose out if that $20 is on the card instead of in note form?
As for using your ATM card, do you never carry cash around at all? I'm sure there's got to be a $20 in your wallet somewhere sometime, right? If you've got that in your wallet, neither you nor the bank is getting that earning power, so what do you lose out if that $20 is on the card instead of in note form?
