Electronic Deposit Fees Too High?

By Mark Brousseau

During last month’s Payments Capture & Clearing (PCC) Council meeting in Las Vegas, seemingly high bank fees for electronic deposits were cited by several participants as a stumbling block to their organization’s adoption of Check 21. The results of a recent TAWPI Question of the Week shows that PCC Council members aren’t the only ones put off by their bank’s electronic deposit fees.

Sixty-five percent of respondents to the online survey said that their bank’s fees for electronic deposit were “too high.” Conversely, just 14 percent of respondents thought that their bank’s fees were “lower than those of other banks.” Twenty-one percent of respondents said their bank’s electronic deposit fees were “just right” – which would make Goldilocks proud.

What do you think of your bank’s electronic deposit fees? Post your comments below.