So people who own banks wouldn't be "allowed" to charge interest under your administration, however it would be OK for them if they charged 1% or 3% per month. :)
I was answering a question of how a bank would make any profit in an interest free environment and banks would have to charge reoccurring ‘fixed fees’ or ‘flat fees’ for the monthly bean counting and administering of loans or whatnot.
With flat fees, I’m only guessing on what it would equate to on a monthly basis using monthly interest charged as a comparison. Plus I gave it a wide guessing range.
Even 5% fixed on a credit card balance would be better than paying 10% or 15% monthly charges but a flat fee would be likely equal to 1% or less during the lifetime of the payback in interest free banking.
Anything is better than unbridled usury.