Well, it is able to be starting pretty much. As you may already know, the Durbin Amendment to the Dodd-Frank Act, went into effect today, October 1st. Effect this has on banks that issue debit cards is really a huge loss in revenues (an estimated $8 billion). You see, up till now, whenever you swiped your debit card through a merchant’s terminal, also was processed for a credit card regarding a pinned debit transaction, the banks earned an Interchange Fee. This Interchange Fee averaged over 1% bucks.10-$.15 on the value of the goods or services purchased. With the implementation of the Dodd-Frank Financial Overhaul Act, swiped debit transaction fees are generally limited to a designated $.21 plus a fee of.05% (5 basis points) that the banks will be collecting.
Do If only it was the early 2000s as soon as the economy was better and buyers were spending cash on eBay, and eBay had less fees? Of course I might! But guess the activities? There are still hundreds of thousands of sellers still making cash on websites. It all must do in doing what you sell. If you’re expecting to offer on eBay based on tiny profit margins, are usually not likely to do correctly.
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