We recently ran out of checks and had to order some more from the bank. I was shocked when they charged me $8. I don't think we've ever been charged for checks. I questioned them about it and they said they had even given me a discount, as they usually charge $20 for a box. Does your bank charge you for checks?
I haven't had my own check yet, but a friend of mine did. She had a check for 7$ and it costs her like 10$ to cash it out, so that kinda sucked. :/
That's a bit crazy. Where I live we never have to pay for that kind of thing. But maybe that's just US banks. Over the long term, though, most banks are trying to do away with these kind of things anyway.
I heard it's possible to make an European Dollar Account where you won't have transaction costs, but I haven't really looked into it myself.
Yes! My bank tried to charge me $14 for checks. Long gone are the days of free checks. I am almost tempted to open a new account just to get more free checks! lol
Yes, I think thats pretty standard operating procedure for most banks. You may get a free set when you sign up for a new account, but after that they do tend to charge. I don't mund though. I rarely write checks so one set will ladt me quite a long time. I think checks are on their way out anyway. Its mostly older folks that use them.
Banks usually give free initial checks (it has dwindled down to 10 free checks nowadays) then they charge for the next orders of check booklet. In my country, the fees for commercial checks are double the fees for personal checks. Charging for checks is just fair, in my opinion, because banks do pay for documentary stamps on these checks as well as for the printing. I don't normally use checks for payment as only a few institutions accept them as payment mode. In the past, those who are living on paycheck-to-paycheck basis use them to take advantage of the check clearing time of 3 days. Say you make the payment after cut off time on Friday and the payee deposits the payment on Monday. You have until Wednesday noon to fund the check. Nowadays, the clearing house deducts the check amount right on the day of deposit by the payee so it can no longer be used as a mode to delay funding time.
You have to pay for a new check booklet. It is not expensive though but is is imposed to discourage clients from requesting so many check booklets. In the olden days, the client will just request and be given but it was abused. There is cost in printing the checks and it is a standard printing as per the guidelines of the Central Bank hence the fee for the check booklet is now required.
My bank do charge for a check booklet. It's just a little charge which is around $3. I think this is just the cost of producing the cheque booklet and any other administrative cost
