[giantg2]

Most people are well under the insurance limit and would rather bank for free than pay fees.

[jejeyyy77]

I'd argue that most people simply don't know what is going on and think that their money is being stored in a bank vault.

[notahacker]

tbf, this group have a better handle on how things work than the people who live in existential fear of bank runs because they're oblivious to the fact that a solvent bank can always borrow enough money to fulfil withdrawal requests (with FDIC kicking in only when the bank is insolvent)

[jejeyyy77]

Remains to be seen IMO - esp. in the age of social media.

[notahacker]

Social media has nothing to do with the fact a solvent bank can borrow enough to offset its entire loan portfolio

[giantg2]

True. I suppose if we combine both groups, that covers the vast majority of people.

[badpun]

This. The fees to cover the bank branches, the online banking system, atm usage etc. would have to be huge.

[jejeyyy77]

Why? Many banks are now fully digital and don't have branches.

Also, if nothing else, crypto has shown that storing money performing transfers is not that expensive.