I've had a couple of emails with L-Mail (an online service for sending
regular mail) discussing sending requests with MICR checks. It is
possible, since their Canadian printing affilate already seems to have
the ability, but I don't have numbers for pricing yet -- it will be a
new service for L-Mail. This got me wondering, again, how much above
the $5 for the request itself might be an acceptable surcharge for the
convenience of filing a request online. If it costs too much for the
user end user, the system won't work.
Unfortunately, there is transaction friction:
- payment service transaction fees (paypal* - $0.30 + 2.9%, approx
$0.46)
- cost of MICR check printing / mailing. The cost will be higher
than the basic L-Mail cost of $1.30.
For a total cost (before MICR surcharge) of $6.76.
These compete with the costs for doing the request yourself:
- cost of request: $5.00
- cost of envelope: $0.06 - (per box of 500 at staples)
- cost of stamp: $0.52
- cost of check: $0.17 (approx. -- to verify)
- cost of printing form: $0.02
- hassle: $?
= $5.77 + ?
Does anyone have a feeling what a cap for a request fee would be?
Would $7 for a request be too expensive?
Another option is to use external money to subsidize the added
friction over a certain amount, so that it's, say, $6 regardless.
This is not that appealing.
Any ideas?
Jennifer
*
https://www.paypal.com/ca/cgi-bin/webscr?cmd=_additional-payment-pricing-outside