Clearly, because substitute checks can be processed in the same manner as original checks, recipients of substitute checks should incur little or no additional processing costs. Recipients, however, will incur some additional costs relating to the act's customer protection and disclosure requirements. It is difficult, however, to estimate the overall cost savings.
In their responses, none of the banks have so far provided what I would regard as a clear and quantified statement of their policy with respect to adjustments of the SVR interest rate.