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0 pointskwhitefoot3y ago0 comments

That's bonkers! It costs at least an order of magnitude more to process a cheque than a credit card transaction. And debit cards are even cheaper.

0 comments

sgerenser3y ago

Not in the U.S. The interchange fee alone is at least 1% for a credit card, typical all-in fee to the merchant is 2-4%. Checks cost almost nothing in comparison.

kwhitefootOP3y ago

That's what the processors charge, not what it costs them.

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0 pointskwhitefoot3y ago0 comments

That's bonkers! It costs at least an order of magnitude more to process a cheque than a credit card transaction. And debit cards are even cheaper.

0 comments

sgerenser3y ago

Not in the U.S. The interchange fee alone is at least 1% for a credit card, typical all-in fee to the merchant is 2-4%. Checks cost almost nothing in comparison.

kwhitefootOP3y ago

That's what the processors charge, not what it costs them.

j / k navigate · click thread line to collapse