With 37 utilities participating in the Survey already, I was surprised to see how many aren’t charging the maximum returned check fee allowed in their state.
Early returned check fee results
Surprisingly, the number of utilities charging less than, more than and exactly the maximum returned check fee for their state are almost equal. Here are the early results (clicking on the image will open a larger graph in a separate window):
Even more surprising is that one utility doesn’t charge a returned check fee at all. Why would you want to absorb the charges from your bank and not pass them on to the customer who caused you to incur the fee?
I wrote about returned check fees a couple years ago and included a link to a document that outlines the maximum fee by state. This document also includes a reference to the statue regulating returned check fees in each state. You might want to take a minute to review how your returned check fee compares to the maximum allowable fee in your state.
Still time to complete the 2015 Utility Fee Survey
If you haven’t yet participated in the 2015 Utility Fee Survey and would like to, please click here to complete the survey. It should take less than five minutes to complete.
If you have any questions, please feel free to e-mail me at email@example.com or call me at 919-232-2320.
I’m looking for as much participation as possible in the survey, so please feel free to pass this on to your colleagues at other utilities.
Thank you in advance for your participation in the Utility Fee Survey.
© 2015 Gary Sanders