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Sneakeater

Old Man Shaking Fist at Cloud

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I know I posted before but I just looked again, and standard high street prepaid debit card is $2.50 for cash reload, $1.50 for transactions, $3 for ATM withdrawals.

 

I thought the reload used to be a percentage of the deposit; if so things have got better. These businesses are trying to stack them high and sell them cheap, not set rates their market can’t afford. (I am sure there are predators out there.)

 

Wilf, if I understand what you are saying (and quite frankly on such numerical / technical subjects, I usually don’t due to lack of clarity) you seem to think that these are not predatory rates

 

They are ! and they are “egregious fees for actual usage patterns“ as I said above. Per your fees, I stand by everything I said but you’re going to need to put on your thinking cap and break out a calculator and consider the $ amounts and typical transactions that this unbanked demographic would be doing and figure out fees as a % of actual spend. I’m not going to do it for you because you will only truly understand by doing this exercise yourself ... and maybe with the aid of others

 

I’m done on this specific subject

 

And Bonner, to be sure that there isn’t a misunderstanding re my long initial post above, my criticism is aimed at the industry and not necessarily at specific individuals within (cuz of course that are plenty of great, high-integrity people in the field) and surely NOT at you ... I said sorry cuz I was slamming your industry ... i wasn’t slamming you

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You think having to spend an extra $1.50 to buy a cup of coffee or a sandwich isn’t problematical? Especially for a poor person?

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Banks charge fees, especially to customers who don’t maintain a healthy balance.

 

The problem is poverty, and indeed access to banking services (not to mention housing, education, and healthcare). The problem is not being disbarred from buying a $12 sandwich. When McDonalds stops taking cash, we take to the streets.

 

(Being disbarred from using cash for most retail purchases would of course be a major problem.)

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When McDonalds stops taking cash, we take to the streets.

 

 

They've already made the decision not to take cash in their kiosks, so while it'll technically remain possible to pay cash, it's going to become increasingly inconvenient as the number of cashiers is reduced.

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Why is "overnight oats" a thing now in Germany, when they've had Bircher Muesli since 1926? And don't tell me it's because of no apples. 

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Does anyone own cash anymore? Haven't used cash since 1947.

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Does anyone own cash anymore? Haven't used cash since 1947.

Yep, you need it for the Greenmarket. And to give to people on the subway, who don't take PayPal or Venmo or cards.

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