Over the Rainbow bridge...
- May 14, 2008
It's not every bank account over $600, it's every transaction over $600. And it's worse than that, because the transaction can have multiple parts.
Say you pay someone $50 a week to mow your lawn. If you use a payment app, the money you send them would be tracked, and once the total paid to that individual reached $600 there would be a notification.
How does this affect me negatively?