My bank charged me $2 fee for a $11 cheque....Oh My God!!!!

@smilyn (2964)
United States
February 28, 2010 10:33pm CST
Last month I recieved a cheque from Surveysavvy for $11..I had deposited that into my local bank account.. When I checked my account details today, I was astonished to see that my bank has charged a fee of $2 for the cheque..I could not believe this.. Now I feel that getting the money into our account is more costlier and difficult than earning online? How about the bank charges in your country?
2 people like this
6 responses
@Porcospino (16630)
• Denmark
2 Mar 10
I think you are lucky, because in my bank it is even more expensive to cash an international check. We have to pay at least $14 just to cash the check, but that it not all, in addition to that fee there is an extra fee which depends on the amount of the check. It gets more expensive it you want to cash a big amount of money. When I first started to get interested in online money making I wasn't aware of this, and I joined some sites which paid via checks, but I have given up those sites long ago. If I make $20, I will receive less than $6, so it definately not worth it Now I only use sites that pay via paypal or alertpay.
1 person likes this
@smilyn (2964)
• United States
2 Mar 10
oops.. That is sure a big amount.. I also feel that it is not a good idea to request a payment in cheque when the amount is small.. It is a big loss to us only..This payment of mine was for a survey..I had been a member of Surveysavvy for almost 3 years..But this is the first surey I got from them and I was paid for that..So I was bit excited about my money and I requested the earnings. I think paypal is more profitable many times..
1 person likes this
@user_786 (1338)
2 Mar 10
this is too much. which bank is it? did your cheque come from a different country or what? why did they charge alot. i suggest if you regularlby be encaching such cheques, try another bank or financial service
1 person likes this
@smilyn (2964)
• United States
2 Mar 10
yes, the cheque was in USD..So I would be charged with the foreign currency exchange fees wherever I go.. Even if I try some other bank, it would cost me the same.. I expected some fees..But not this much..
@kaylachan (4776)
• Daytona Beach, Florida
2 Mar 10
Every bank is different as is every country. I don't have any charges for depositing checks into my checking account should I need to, but I know people who are charged fees. Part of me wants to say it isn't a big deal, but another part of me knows how precious every cent is and to lose money for doing something so simple.
1 person likes this
@smilyn (2964)
• United States
2 Mar 10
yes, these charges varies with the banks and also with countries.. Checks in local currencies are charged less than the cheques in foreign currencies.. Since they are deducted as a part of taxes and other foreign exchange fees, I'm bit relieved..
@dragon54u (31605)
• United States
1 Mar 10
My credit union only charges if the check is no good. Credit unions are a bit different from banks--the depositors are shareholders and are treated much better than banking customers. If I were you I would not stand for that, I would call them and tell them if they are going to charge you to deposit money you will find another bank!
1 person likes this
@smilyn (2964)
• United States
2 Mar 10
oh.. I miss these credit unions.. they seem to be more advantageous.. Actually I would have also argued with the bank, if it was a local currency cheque..But in this case, I could not switch onto a different bank as the cheque was in USD and I should pay the fees for taxes and foreign currency exchange service charges..
@mods196621 (3631)
• Philippines
1 Mar 10
They charged me also but I forgot how much. That was too long ago when I got my money earned from online job. But I used paypal also. Here in my country charging is so natural for so many reasons like taxes and many more because I was the bank user here. I can do nothing but to pay those charges. It was too hard to earn money in different ways.
1 person likes this
@smilyn (2964)
• United States
2 Mar 10
yes, the bank deducts the fees as taxes and service charges for the foreign currency exchange.. I have been a member of Surveysavvy for the past 3 years.. In these 3 years, I had recieved only one survey from them. It was $11 worth and I thought it was a huge money for a survey.. But what I got in hand was very little..
@SomeCowgirl (32271)
• United States
1 Mar 10
$11.00 is not an significant amount really as it is. Then with a - $2.00 from that amount, it's really just $9.00. Of course if in your country grocery stores offer you to cash checks with them, it could be anywhere from $3.00 to $7 or $8 just to have a check cashed... Taking that into consideration with the amount you received $11.00... well then that would leave you with little. I would suppose it's a shock to have that fee. Hubby got a check cashed one time I think from Clixsense and nothing was deducted from that amount. Maybe with smaller amounts it's better to have it cashed as pocket money instead? I'm sorry that you went to the bank and found that out, you would think that surveysavvy would warn that some banks may charge a service fee.
@smilyn (2964)
• United States
1 Mar 10
From your profile, I could find that you are from United States..That could be the reason why your hubby's clixsense check got cashed without any fee..But I'm from India..And I knew that I would be charged a fee for the foreign currency exchange..But I never expected this much..