Fractional reserve banking. Banks would even pay interest on money you had in your account in times past.
And then the fact that banks and card companies are charging merchants a fee for transactions and have margin to give back some of those fees to the customers.
I still get interest, it's really bad though. And the transaction fees are very low here (someone said 0.2% but I don't know) which should cover a lot of infrastructure, fraud and such.
So are you the product at your bank or why would they pay you to use their services?
Fractional reserve banking. Banks would even pay interest on money you had in your account in times past.
And then the fact that banks and card companies are charging merchants a fee for transactions and have margin to give back some of those fees to the customers.
I still get interest, it's really bad though. And the transaction fees are very low here (someone said 0.2% but I don't know) which should cover a lot of infrastructure, fraud and such.
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