Quote:
Originally Posted by CunningStunt
Thanks for tip. However this particular host refuses to TT unless I have a minimum of $5K commission each month. It's a little sporadic and as I have 4 different accounts with them for tracking purposes, I'm screwed for now.
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Probably worth asking your bank if they can give you a better rate or discounted fees anyway. Which bank are you with and how much are they charging you to deposit the cheques? Are they negotiated (converted on the spot) or sent off for 4-6 week collection?
I started out paying $35 per cheque at Westpac, ended up at Commonwealth paying $10 per cheque with a 28 day hold (which had a little bug, you could only hold a single payment, so a subsequent deposit released a previous hold
), then moved back to Westpac with unconditional on the spot clearance for $10 per batch of cheques. They've changed the goalposts a few times since then and I'm now paying $15 per 4, but it's still a pretty good deal.