Starbucks allows you to order items on their app that the stores are out of without telling you they are out of them. They take your money instantly with almost no effort on your part. You then drive to the store only to be told the item is not available - would you like something else? The ole bait and switch scam - illegal in most states. If you want your money back - well now that could take 24 hours and only after you stand in line and sign the receipt - not quite as easy as when they took it.
Banks will withdraw your money from one account to pay a loan at the same bank. Your money comes out of your account instantly but does not apply to your loan for up to four days - despite it all being done electronically.
What's up? Well in both cases - Starbucks and banks - they delay giving your money back in order to use it to make money - for free.
Oh what's the big deal it's only a few dollars. Well, multiply that by the 1 million times a day across the globe they do this, and you start to get the idea why they do this. Both Starbucks and banks are capable of giving you a refund or applying your money to your loan instantaneously. But then they'd miss out on the millions in
interest they make on your and others money - for free.
Why is this legal? Because major corporations to include banks and Starbucks influence politicians unfairly - and you get to pay the price.
Oh and one last thing. 'Loading' your Starbucks card prior to purchasing anything is you handing your money over days or even weeks before you purchase anything. Why would you do that? They use your money to invest and make money and then pay you back at the time of purchase - minus the interest and money they made on your money. Nice, hey?
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