Originally Posted by
TheBOSman
I wonder why BB/banks/prepaid cards desperately want people to do direct deposit of their paychecks onto their product. That has to be a 0 profit thing, why does, for example, BB waive the ATM fee, or many bank checking accounts waive checking account fees with $X in direct deposits each month? I'm sure BB makes nothing off me putting direct deposit onto it, why do they waive a fee for me if I do?
I would assume they make their money off the other end with the merchant fees and the float. Assuming the card takes off and has millions with float balance and using it at Wally's and all the other places they shop there has to be some profit in it.