How do banks make a profit on auto deposit SS checks?
How much interest could they really be getting on such small amounts of money? (Individual, I get there would be lots over the population)
They can’t charge transaction fees for the EBT cards.
Stores have to pay a monthly fee for debit/credit card machines. It may not come out of your purchases but it comes out of their pockets. They did not have to pay for the old paper with carbon copy ones but you rarely see those these days.
The banks make money by loaning out your money. Say a check is deposited Monday and the cash is not withdrawn until Friday. They have four days to play with your money. They can make a nice profit in that time without charging you anything.