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Why the difference in fees between cheque & bank transfer?
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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! 
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