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* How do Banks make money? Transactional Fees – Varies anywhere from 0.8% to 3.0% depending on a lot of parameters. (Guesstimates) * Who pays for (Transactional Fees) this? eCommerce companies selling the products need to bear this cost. * Banks.
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Digital-only banks such as BankMobile in the US, Number26 in Germany and Monzo in the UK have placed a strong emphasis on delivering a simple, efficient and rewarding experience for their users. However, recent research has indicated that rapid growth in the digital space could be coming at the expense of customer satisfaction.
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