§ Mr. CrausbyTo ask the Secretary of State for Social Security what the difference in the cost of benefit payments is between an automatic credit transfer transaction and payment by giro; and if he will break down the cost difference between payments to the agencies concerned. [115483]
§ Mr. RookerPayment by girocheque is over 130 times more expensive than payment by automated credit transfer (ACT).
594WThe overall average total unit costs to the Benefits Agency are in the order of £1.36 for each girocheque and 1p for each ACT transaction. These figures include the production processing and distribution costs as well as the transaction charges paid to paying agents.
A breakdown of the costs to the individual components cannot be disclosed as some of this information is commercial in confidence.