Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Hansard source

The answer to the honourable senator's question is as follows:

(1) In an article in the Financial Review on 9 August 2011 headed "Cheque users could pay more: RBA" (copy attached), the Reserve Bank of Australia indicated that in 2007 the Central Bank found the average cost of processing cheques to be approximately $7.69 per cheque. The Reserve Bank of Australia also suggested that businesses pass on more of the costs to users to ensure the payment method remains sustainable.

(2) In January 2012, Australia Post wrote to all identified not-for-profit bodies in its database advising of its decision to waive the $100 annual cheque payment fee until 1 July 2012 to allow them more time to change to one of the no-fee payment options such as Electronic Funds Transfer or Direct Debit.

Where a customer subsequently contacted Australia Post to query why the $100 fee had been included on their latest invoice and Australia Post was able to confirm the customer is in fact a not-for-profit body that had been incorrectly categorised in its database, Australia Post immediately reversed the $100 fee.

(3) As per answer to part (2).