Central Banking

Fed hikes cheque processing costs by 41%

In a bid to encourage the move to electronic processing of cheques, the Federal Reserve will increase its charges for the processing of paper by 41% in 2009.

In contrast the Fed says it will increase the charge for electronic payments by only 2%.

The move comes as the US experiences a dramatic shift from paper to electronic processing of cheques.

From a rate of just over 40% in 2007, the number of cheques deposited electronically has grown rapidly. In August 2008, the proportion deposited ele

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: