We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Why the difference in fees between cheque & bank transfer?
aliasojo
Posts: 23,053 Forumite
in Credit cards
CC company cheques have a 3% handling fee. You can write these to yourself and pay into your current account.
You can also go online and transfer straight to your current account.....with a 4% handling fee.
Given that an online transfer cuts out any cheque processing yet also takes the same time to reach your account....why is a higher fee charged when its an easier process?
Is it simply because they can...or am I missing something else?
You can also go online and transfer straight to your current account.....with a 4% handling fee.
Given that an online transfer cuts out any cheque processing yet also takes the same time to reach your account....why is a higher fee charged when its an easier process?
Is it simply because they can...or am I missing something else?
Herman - MP for all! 
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.6K Banking & Borrowing
- 254.8K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.2K Work, Benefits & Business
- 605.7K Mortgages, Homes & Bills
- 179K Life & Family
- 263.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards