# The Bank has Taken (almost) all of my Money **URL:** \ **Category:** Factual Questions\ **Created:** [May 22, 2010, 4:37am UTC](https://boards.straightdope.com/t/the-bank-has-taken-almost-all-of-my-money/540341 "2010-05-22T04:37:43Z")\ **Posts on this page:** 5\ **Page:** 3
**Author:** ![Bosda\_Di\_Chi\_of\_Tricor](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bosda_di_chi_of_tricor/32/16845_2.png) [@Bosda\_Di\_Chi\_of\_Tricor](https://boards.straightdope.com/u/Bosda_Di_Chi_of_Tricor)\ **Post date:** [May 26, 2010, 10:21pm UTC](https://boards.straightdope.com/t/the-bank-has-taken-almost-all-of-my-money/540341/41 "2010-05-26T22:21:57Z")
**Una Persson** – use a credit union. Better interest rates, cheaper loans, & nicer service. ---
**Author:** ![whatami](https://avatars.discourse-cdn.com/v4/letter/w/85f322/32.png) [@whatami](https://boards.straightdope.com/u/whatami)\ **Post date:** [May 28, 2010, 2:14am UTC](https://boards.straightdope.com/t/the-bank-has-taken-almost-all-of-my-money/540341/42 "2010-05-28T02:14:51Z")
> [@Clark\_Cello](#): > > This is true, although remember that those fees are split pretty much evenly between the bank and Visa (or MasterCard). In general, you need to spend about $1,500 to $2,000 a month on your card in order for you to be profitable for the bank if you never pay interest charges. This number can vary greatly depending on other factors (annual fee, how you were acquired, etc.) This may soon change as well if the financial reform bill passes as it currently exists (well, the senate version anyway). The new consumer protection bureau is directed to regulate interchange rates to account for the actual cost of the transaction. The way it’s written, it doesn’t allow for profit, building the network, maintenance or fraud losses… ---
**Author:** ![rbroome](https://avatars.discourse-cdn.com/v4/letter/r/838e76/32.png) [@rbroome](https://boards.straightdope.com/u/rbroome)\ **Post date:** [May 28, 2010, 12:44pm UTC](https://boards.straightdope.com/t/the-bank-has-taken-almost-all-of-my-money/540341/43 "2010-05-28T12:44:07Z")
> [@whatami](#): > > This may soon change as well if the financial reform bill passes as it currently exists (well, the senate version anyway). The new consumer protection bureau is directed to regulate interchange rates to account for the actual cost of the transaction. The way it’s written, it doesn’t allow for profit, building the network, maintenance or fraud losses… I haven’t read the law but that does seem odd. If those components are excluded what components are considered in calculating the cost of the transaction? Electricity to run the routers? ---
**Author:** ![IAmNotSpartacus](https://avatars.discourse-cdn.com/v4/letter/i/cc9497/32.png) [@IAmNotSpartacus](https://boards.straightdope.com/u/IAmNotSpartacus)\ **Post date:** [May 28, 2010, 3:54pm UTC](https://boards.straightdope.com/t/the-bank-has-taken-almost-all-of-my-money/540341/44 "2010-05-28T15:54:56Z")
> [@whatami](#): > > The way it’s written, it doesn’t allow for profit, building the network, maintenance or fraud losses… Let me clear something up about fraud losses: It’s very rare that card issuers actually take a loss related to fraud. The merchant accepting the card for the transaction will take the hit. Card issuer will take a hit if the borrower defaults, yes, but that is not really within the bounds of the fraud we are talking about here. ---
**Author:** ![whatami](https://avatars.discourse-cdn.com/v4/letter/w/85f322/32.png) [@whatami](https://boards.straightdope.com/u/whatami)\ **Post date:** [May 29, 2010, 12:26am UTC](https://boards.straightdope.com/t/the-bank-has-taken-almost-all-of-my-money/540341/45 "2010-05-29T00:26:53Z")
> [@IAmNotSpartacus](#): > > Let me clear something up about fraud losses: It’s very rare that card issuers actually take a loss related to fraud. The merchant accepting the card for the transaction will take the hit. Card issuer will take a hit if the borrower defaults, yes, but that is not really within the bounds of the fraud we are talking about here. The merchant can take a fraud loss, and so can the bank. I was actually speaking of the bank taking a loss on fraud. [Previous page](https://boards.straightdope.com/t/the-bank-has-taken-almost-all-of-my-money/540341.md?page=2)