Why it costs so much to be poor in America

Re:Why it costs so much to be poor in America by Anechoic on Thursday January 25, 2018 @09:24PM (#16236585)

the estimates I’ve seen say it cost ~$100-$500 for a bank to administer a checking account annually.

Is that an average or an actual cost per account?

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Re:Why it costs so much to be poor in America by supermarine on Thursday January 25, 2018 @09:35PM (#16236621)

And what is the breakdown on that? What's actually costing the banks that much?

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Re:Why it costs so much to be poor in America by rbcgerard on Thursday January 25, 2018 @09:45PM (#16236669)

I don’t know the breakdown, but it’s: banking software, mailed account statements, debit cards, phone support centers, websites, bank branches, compliance, ATM networks, check processing etc.

Obviously some of these costs scale very cheaply, but there is quite a bit that goes into a modern bank account+ some customers are costlier than others (lost of call center calls/lost debit cards for example)

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Re:Why it costs so much to be poor in America by rbcgerard on Thursday January 25, 2018 @09:37PM (#16236630)

It was an average - but it was just for checking accounts

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