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Showerthought: My plumber changed my mind about cash being king
He told me his business stopped taking cash for big jobs because the bank fees on deposits were eating his profit. I always thought cash was free, but that hit different when he said a $5,000 deposit cost him over $50 just to process. Has anyone else switched their small business away from cash because of bank fees?
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emmahayes21d ago
Isn't it wild how many hidden costs are just built into normal life now? Like how a "free" bank account still charges for checks, or how that cheap printer ink ends up costing more than the printer itself. We get used to the surface price and stop asking what's underneath. Makes you wonder what else we're just accepting as the cost of doing business when maybe it shouldn't be.
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cora51822d ago
Yeah that's a real eye opener isn't it? I never considered the deposit side of things, just the convenience. It makes total sense though, those fees add up fast on the bigger amounts. Honestly makes me wonder how many other small costs like that get overlooked.
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