How much does it cost a Credit Card Company

spidey07

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Aug 4, 2000
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At first guess a couple cents. They pay another company to do all that processing. Since they process in bulk they get bulk discounts.
 

EagleKeeper

Discussion Club Moderator<br>Elite Member
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Oct 30, 2000
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When I worked at a bank (in the olden days), a good data entry person was able to process (encode) a check every 5-10 seconds.
figure a pay rate of either $10/hr or piecemeal equivalent and you have your answer.
 

spidey07

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Aug 4, 2000
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Originally posted by: Common Courtesy
When I worked at a bank (in the olden days), a good data entry person was able to process (encode) a check every 5-10 seconds.
figure a pay rate of either $10/hr or piecemeal equivalent and you have your answer.

It's all automated these days. Big machine sends the check into a sorter/reader. Least that's the way it was at NPR.