CeeCee ©️ (@the_exception)

Paying cash vs. Digital/Electronic payment [Cash Payment] I have a $50 bill. I go to a restaurant and use my $50 to buy a nice dinner. The restaurant owner uses that same $50 bill to pay for the laundry services for cleaning the restaurant tablecloths. The laundry owner then uses the same $50 bill at the barber shop for a haircut and some products. The barber shop owner uses the $50 bill for shopping supplies. After unlimited payments using this $50 bill, it will still remain a $50 value, which has fulfilled its purpose to everyone who used it for payment - AND - the bank has jumped dry from every cash payment transaction made. BUT… [Digital Payment] Let’s say I went to the restaurant and paid $50 digitally with my bank card. The bank fees for my payment transaction are charged by the bank to the seller/merchant at, say, the usual 3% - so around $1.50 is taken out of the $50 the restaurant has received (by the bank that facilitates the transaction). Now let’s assume the 3% merchant fee applies to all further transactions The laundry owner pays $1.50 surcharge And The barber pays another $1.50 And The products store And so on.. After 30 transactions, the initial $50 will exist at only $5. The remaining $45 has become the property of the banks, due to all the transactions and fees. Think of how many times you have tapped/swiped your card in your life along with avg transaction amount. Now, calculate the average 3% - How much of your money have you given to the big banks in “fees” alone? 👀