Hi,
So far I am using my {Legacy Bank} for my daily banking (card payments). But, as far as I know, the card payment commissions that retailers pay for card processing is being split between:
- terminal operator (e.g. Stripe/etc)
- payment processor (e.g. Mastercard)
- bank (e.g. Monzo)
If am I right, and these commissions are of sizeable amount, then I am considering to switching my card transactions to use Monzo instead of my {Legacy Bank}. I already use Monzo mainly for foreign travels, with just occasionally for TfL and contactless. I would be gladly switching my daily card payments if the money were beneficial to it.