Fee for issuing and cancelling cheques
If you need a bank cheque, your bank will charge you an issuing fee. This service consists of the "purchase" by the customer of a cheque, charged to his own funds, in which the bank is the drawer and drawee. The amount to be charged tends to be a percentage of the nominal amount of the cheque, with a minimum amount.
Example: fee of 0.6% and a minimum of €12.
- Amount of the cheque: €1,500
1,500 x 0.006 = €9. As this amount is below the minimum amount, they would charge the minimum amount, i.e. €12 euros.
- Amount of the cheque: €12,000
12,000 x 0.006 = €72
If you request the cancellation of a cheque that has already been issued, for example, because the presentation deadline has expired, your bank may charge you for this procedure. The fee is set as a percentage of the nominal value of the cheque, with a minimum amount.
What requirements must be met in order to charge this fee?
- The fees charged by banks are unrestricted, except in cases where they are limited by law. In the case of the fee for issuing and cancelling cheques, there is no limit, so each bank can establish the commission it decides.
- The bank must inform you of the fee amount before the transaction is performed.