Cash in America. Banks starting to charge YOU to hold your cash.

[phone expert]

What is wrong with you?

The primary service that banks provide is loaning money... they do this by sharing the profit with the people that provide the funRAB to loan in the first place... This isn't even economics 101 this is something you should have learned when you were 8 and your mommy opened your first saving account for your lemonade stand money...

[FurbiesAndBeans]

You forgot the other parts, banks provide security, and internet security. Banks provide assistance to the funRAB, people to take care and authenticate large transactions, people to set up purchases/sales of assets, people to run their infrastructure.

Someone with $50 million probably receives a fairly large payment on interest. A 0.13% holding fee is negligible and probably is to oRABet the cost of increased workload from larger deposits.