Re:Robinhood launches 3% checking account
by alexhutcheson on Thursday December 13, 2018 @06:20PM
(#18677054)
The banks incur lots of operational expenses processing transactions, paying for an ATM network, handling customer support calls, dealing with fraud, etc.
[ Parent
| on HN ]
Re:Robinhood launches 3% checking account
by solaxun on Thursday December 13, 2018 @06:36PM
(#18677145)
That is nothing compared to interest expense on CD's or other interest bearing accounts. Checking accounts are one of the most attractive sources of funding for banks (notwithstanding maturity mismatch).