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A comment on Canada 'sleepwalking' into cashless society, consumer advocates warn. Parent comment

Re:Canada 'sleepwalking' into cashless society, consumer adv... by BJones12 on Sunday June 30, 2024 @04:30PM (#40840132)
For businesses to deposit cash at RBC (the largest Canadian bank) here's an account that charges $2.50 per $1,000 (branch), $2.25 per $1,000 (ATM)

https://www.rbcroyalbank.com/business/accounts/flex-choice-b...

Which is ~0.25%. Presumably a cash register also has some amortization on it.

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Re:Canada 'sleepwalking' into cashless society, consumer adv... by Teever on Sunday June 30, 2024 @05:04PM (#40840361)
That sounds like something that could be regulated away if the government felt like it.
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Re:Canada 'sleepwalking' into cashless society, consumer adv... by nazcan on Sunday June 30, 2024 @04:43PM (#40840220)
That does not include the cost of staff processing it.
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Re:Canada 'sleepwalking' into cashless society, consumer adv... by miki123211 on Sunday June 30, 2024 @05:03PM (#40840358)
And the cost of staff pocketing some of it, and the cost times risk of it being stolen, and the psychological impact to employees of the store being worth robbing...
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Re:Canada 'sleepwalking' into cashless society, consumer adv... by felixg3 on Sunday June 30, 2024 @05:32PM (#40840558)
You forgot cash pickup and delivery costs for big stores or sending two employees to the bank with the day’s revenue (that’s the cost a lot of cash-only merchants in Germany usually don’t calculate for). Also don’t forget the counting of the day’s cash, two employees 30 minutes each.
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