One Maine gas station has closed down its gas pumps, and gone to service >bay work only.
>The reason?
>Banks were making more-per-gallon in credit/debit card fees than the >station was.
>Citing the three percent credit/debit card fees, the owner pointed out that
>the banks were making nine-cents-per-gallon on $3.00-per-gallon gasoline
>while he was working on a margin of only
>five-to-seven-cents-per-gallon.......meaning it was costing him
>two-to-four-cents-per-gallon to pump gas on a credit/debit card purchase in
>bank fees alone - not including the electricity and labor involved.
Idiot. Meanwhile, his suppliers are making 40 cents per gallon. Banks have to charge fees because they're lending money at a risk.
Idiots in california tried to vote bank fees out of existance and the obvious result was that they got atm networks temporarily eliminated until the legislation was reversed.