its an ancient method of payment and I am surprised its taking so long to ditch them.
my main gripe with cheques is that they very slow to clear which adds inconveniance and too much oppurtunity to rip people off, its all too common to write out cheques knowing will bounce.
---------- Post added at 22:55 ---------- Previous post was at 22:54 ----------
Quote:
Originally Posted by martyh
there was a thriving industry in chq fraud untill shops stopped taking them
never been a victim of card fraud myself ,lucky or carefull?
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card fraud exists but personally I have only suffered from it once and that was online. I never found out the reason of how it happened, the bank refunded me but never got back to me after.
---------- Post added at 23:00 ---------- Previous post was at 22:55 ----------
Quote:
Originally Posted by Maggy J
And when you ask why they say it's because of cost.Well If I'm prepared to pay the cost to use a cheque why not?If I take the hit so I have the choice why not?
I'm just asking for whose benefit is it to be getting rid of cheques.Because I don't think it's for mine but the banks overall.
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its expensive for the banks when you consider cheque guaruantuee cards as well. They have to honour the payment even if the payer doesnt have the money, it then becomes debt they have to chase down.