[thwarted]

> When you "transfer money" from your bank account to another, your bank has to physically move the associated cash from it's vault to the other banks vault, by hiring secure trucks, people, and so on. If the money has to cross a border, that's even more of a hassle, now you have to physically cross a border with a truck full of cash. When a bank "holds onto your money", they need a big vault full of cash, they have to count it, account for every dollar, physically safeguard it, etc.

While I'm sure some of this is true for some banks at some point in history, this is the kind of understanding of a given industry that results in TechBros reinventing buses or juicing machines.

> This is a huge cost, inefficiency, and a big challenge of banking, and it's one reason transaction fees and banking fees are so high.

The reason banking fees are so high is because they charge what the market will bear, and most of the banks customers are a captive audience. It doesn't cost $2 to perform a transaction at an ATM; it costs pennies, if that. Banks should be paying you for holding, and putting to use, your money.