Thread: Transcash payment questions

1: When a customer takes a Transcash payment slip to either a bank or Post Office, does the bank or PO convert this payment into an automated BACS payment or credit to the target company?

2: If not then what do they do with the Transcash payment slip that they retain?

3: What is the fee charged to the customer for:
A: Customer pays 100% fee at PO?
B: Customer pays 50% fee at PO?

The customer has an account with that bank.
C: Customer pays 100% fee at a bank?
D: Customer pays 50% fee at a bank?
E: Customer pays 0% fee at a bank?

The customer has a no account with that bank.
F: Customer pays 100% fee at a bank?
G: Customer pays 50% fee at a bank?
H: Customer pays 0% fee at a bank?

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1: When a customer takes a Transcash payment slip to either a bank or Post Office, does the bank or PO convert this payment into an automated BACS payment or credit to the target company.

HBOS has confirmed that a Transcash payment converts into an automated BACS payment to the target company!

3: The customer has an account with that bank.
C-E, HBOS confirms that all Transcash payments are free of charge with a consumer basic or current account.

3: The customer has a no account with that bank.
F-H, HBOS refuses to accept Transcash payments if you have no account with them!

1: When a customer takes a Transcash payment slip to either a bank or Post Office, does the bank or PO convert this payment into an automated BACS payment or credit to the target company.

Post Office Counters Ltd. has confirmed that a Transcash payment converts into an automated BACS payment to the target company!

3: What is the fee charged to the customer for:
A: Customer pays 100% fee at PO?
The PO charge a flat fee of £2.35 and there is no 50% fee.

Also the same £2.35 fee is payable on A&L Girobank cheques (not DWP benefit payments) and other bank giro credit cheques for bill payments.

Interesting