Hi Darren,
Eurocheques DID work in the past - the receiver paid nothing, the "sender" 1.75% of the cheque's value. This is how the rule was and this is how it worked in Germany. Then a few countries decided to drop out (like the UK) and this is when Roy and I started to have problems with these cheques.
Step by step, all banks dropped out because they did not make enough money from this and it was a method too cheap and easy to pay private individuals in different currencies, especially during holidays. With the introduction of the EUR, the banks DOUBLED the charge for getting cash out of the wall (of course, we all benefit, huhuuu)... and got rid of the Eurocheques everywhere, so there is no choice.
Eurocheques do not exist anymore, so they are treated like "ordinary" cheques ... and the fee for ordinary cheques are extraordinary. I would call them "Go-away" charge.
Postbank has raised the prices for cashing foreign cheques by a factor of 10!!!!
Just like Roy says, banks make sure they get their share. Whoever believed that they would not find ways to compensate the loss of the money they made with currency-exchange must have been extremely naive.
BUT - money transfers between EURO countries is fairly cheap now. Customers need to specifiy IBAN and BIC and then it should not cost more than a national transfer. HOWEVER: If they miss one of the numbers, both you and the customers pay :-(((
Cheers Jochen
