Effective January 2, 2008, the Federal Reserve will apply new fee schedules for depository institutions’ payment services. The price level for priced services will generally increase about 3 percent under the new fee schedules. Check service fees increased approximately 5 percent while electronic payment services decreased about 8 percent. Fees for Check 21 deposits decreased by about 3 percent while fees for paper check deposits increased by about 12 percent.
Please see http://www.frbservices.org/FeeSchedules/index.html for more information on the updated fee schedules.
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