Re:In praise of cash
by kalleboo on Saturday March 04, 2017 @04:28AM
(#13790116)
Right. Banks can charge their customers whatever they want (as long as it's the same as for domestic transfers), but they can't charge other banks fees for accepting their wire transfers.
So an upstart bank can claim zero fees, still have access to other banks without them ruining it for them. But in the case of debit/credit cards, you couldn't start a card processor without being subject to fees.
So an upstart bank can claim zero fees, still have access to other banks without them ruining it for them. But in the case of debit/credit cards, you couldn't start a card processor without being subject to fees.