What does it actually cost a bank to process a check?
Banking and Financial Institutions
Asked by Question Bot12/Feb/20131 answer
1 Answer
Literally a few cents. Its the cost of ACH (highly negotiated rates based on volumes. Wouldn't be surprised if they hover around the 10 cents per cheque mark) + the cost of physical processing (if dealing with physical cheque) which is then converted to an electronic one.
Should come out to be under 25 cents in most cases (all inclusive). This is pure estimation on my part, and pricing factors pretty much depend on the volume of cheques they deal in and the cost per cheque that is outsourced/in-house processed.
Should come out to be under 25 cents in most cases (all inclusive). This is pure estimation on my part, and pricing factors pretty much depend on the volume of cheques they deal in and the cost per cheque that is outsourced/in-house processed.