Bpay Cost to State Government

brisdaz on 06/05/2021 - 03:10
Last edited 06/05/2021 - 03:16

I have a state government debt to pay. If I pay using individual small amounts so as to enter some FinTech competitions where every payment is an entry, how much will it cost the taxpayers (or us)?

I wish to seek a balance between my private interests, corporate interests and taxpayers interests.

$0.52/transaction to cost to financial institutions at Payment Costs in Australia (2010)

$0.80/transaction or $0.88/transaction to business as per two Big 4 Banks (NAB & WBC)

Financial

Comments

  • GnarlyKnuckles on 06/05/2021 - 03:47
    +2

    Are you sure that FinTech does not have a 'limiting safeguard' in place … which would come into play after, say 10 small 'debt repayments' to the same entity? I would be surprised if they did not have such a measure in place.

    • brisdaz on 17/05/2021 - 12:07

      Have been doing daily payment of $2. If the transaction costs above are correct I don't wish to be supporting financial institutions but rather the government who provides more service to me.

      Payments every week or two days may strike a better balance?

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