Banks Double Dipping
I felt annoyed when I could no longer receive cash back at Mac’s Convenience and was pointed to the back of the store. I find it no coincidence this happened right after the new Manulife ATM bank machine was installed and confirmed with Mac’s head office this was a corporate decision. Banks profit from fees charged for merchant debit machine rentals, for each credit card and debit transactions and ATM customer usage fees. I’ve heard of double dipping before but this is triple dipping. Banks really don’t care about you or your money and customer service is laughable. They are becoming experts at cash grab. (There’s an expression) Non-interest income amounts to 44% of bank revenue’s. Now it appears they’re dictating to merchants to drop value added service such as cash back. Cash back is quick and convenient. I can go anywhere to buy milk, bread, or gas. Banks are a sales organization. It seems you only here from them when they want to sell you insurance, credit card or loans.