Reply to post: Re: Refunds hide fundamentally insecure system

Met police commissioner: Fraud victims should not be refunded by banks

John Brown (no body) Silver badge

Re: Refunds hide fundamentally insecure system

"Also, doesn't the merchant pay a small cut of each transaction? Cash doesn't provide that."

Business banking isn't free. The banks get their cut of the transaction when the business deposits the takings and/or "buys" the bags of coins. But that cut probably isn't big enough for them, especially since so many shops offer "cash back" as a way of "getting rid" of cash to reduce the banking fees.

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