I completely agree. Transaction costs are free for bank customers (mostly), while those fees are being paid by the bank. However, banks are "loaning" money to each other at such ridiculously cheap rates (compared to what a consumer might see), and earning ridiculous amounts of money from that because the volume that they're loaning [which I'd prefer to say that they're "floating"] on a daily basis is absurd (which is where some of their value comes from -- and why their deposits are so important; collateral).

Anyway, Ripple is doing zero transactions today for banks. And I don't even know if they have contracts with any banks yet? But they have the infrastructure built, which is the hard part. If you build it, they will come???