What is the industry saying?

The fixed costs of processing checks and fees will continue to increase for property managers, driven by higher unit costs that the banks will charge for processing less checks in order to protect margins. A March 2014 article in the Wall Street Journal cited a Bank of America estimate that a single business check can cost anywhere from $4 to $20 once the time and costs of writing, mailing, collecting and reconciling the check are taken into account. In fact, paper checks cost American businesses between $26 billion and $54 billion in 2010.
— Master Card