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EU has a cap on card fees, and low-income people have no problem opening bank accounts. They do get totally shafted on overdraft fees tho.

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It's not about opening accounts, it's about monthly fees. If banks can't make money from debit card transactions they'll have to charge account holders directly.

That sounds more like you need to give poor people more money. Not even that much, just a little.

Not that you need to fight caps on card fees.

In the UK, bank accounts rarely cost anything and debit cards come for free as standard. Banks are still profitable.

I would hazard a guess that most banks in fact make most of their money through lending your funds to other people.

I know this is highly EU-country dependent, but paying monthly fees for banking in USA is incredibly easy to avoid, but harder to avoid in EU.

Could say the rich subsidize the poor in USA (by keeping more in 0.0001% interest checking accounts and more card swipes per month).

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