Cheques to disappear in 2018

Originally Posted by martyh

well of course it is ,why bother to keep an expensive system that is hardly used anymore in place for a hand full of people stuck in the past and lets face it chq fraud is a lot easier than card fraud ,another reason to get rid

So far I've not been a victim of cheque fraud in the 40 odd years of having a bank account.
However I've twice been the victim of debit card fraud.

Originally Posted by Maggy J

So far I've not been a victim of cheque fraud in the 40 odd years of having a bank account.
However I've twice been the victim of debit card fraud.

there was a thriving industry in chq fraud untill shops stopped taking them
never been a victim of card fraud myself ,lucky or carefull?

[Halcyon]

Originally Posted by Maggy J

It's a lot of faffing about..much easier to get your cheque book out and pay someone straight off.

Problem is it isnt straight off. It takes up to 4 days so your money hasnt gone out straight away.

Originally Posted by Halcyon

Problem is it isnt straight off. It takes up to 4 days so your money hasnt gone out straight away.

In fairness some debit card transactions take the same time


no idea why that is ,perhaps someone can clue me up

[Stuart]

Originally Posted by Ignitionnet

Direct transfer - doable online, over the phone or in branch. It's like a cheque without the paper and money is in the recipient's account in 2 hours.

Online introduces the various security problems inherant in online banking, not to mention the need to have access to at least one device with internet access. This is not always practical.

Transfer via telephone potentially introduces the problem that the line between your phone and the bank is not secure, and if dealing with a call centre, you can't be entirely sure that the staff have been through the same security checks the branch staff should have been.

In branch is not always an option simply because you may not be able to access a branch in working hours, or you may not have time to queue up (queues at my local Nationwide generally reach a 40 minute wait time within 15 minutes of lunch hour starting).

Originally Posted by Ignitionnet

Direct transfer - doable online, over the phone or in branch. It's like a cheque without the paper and money is in the recipient's account in 2 hours.

Its not always in 2 hours, some of mine still take a day.

[Chrysalis]

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 ----------

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?

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 ----------

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.

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.

[idi banashapan]

in japan I believe they have been using payment-enabled mobile phones for some years. this is quite obviously a viable option, and as most people out and about these days have a mobile phone, it makes sense and would be very handy.

alternatively, ensure businesses who receive payments are card-payment equipped. they have 7 years to sort themselves out! should be long enough.

let's be honest - cheques are dated and have quite an overhead in terms of man time when compared to alternative methods currently available that are far easier and quicker (I'm talking about time taken to design, manufacture, fill in, post / pay in, enter into a system in the bank, yada yada). things change, move on.

sometimes we need someone to make the decision to stop using this, that or the other, other wise we would be sat in a position whereby we say "it's comfy like this" and we would never progress. Man didn't get to the Moon, invent the combustion engine or learn the art of flight because he sat on his hands saying "what we have will do - why look at something different?". We did it because it's progression. I don't think people should see this as removing something 'comfortable' as much as it is giving the opportunity for something better to be given a place.

http://www.youtube.com/watch?v=6z1DidldxUo

peace out

Originally Posted by Halcyon

Problem is it isnt straight off. It takes up to 4 days so your money hasnt gone out straight away.

Handy for when it's not needed urgently though.

---------- Post added at 23:35 ---------- Previous post was at 23:32 ----------

Originally Posted by Chrysalis

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 ----------



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 ----------



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.

A cheque of mine bounces the bank bites my bum about it big time..and they get a huge chunk of money as well.

[Gary L]

Originally Posted by Hugh

Sell (rent) your body?

What?

Originally Posted by idi banashapan

in japan I believe they have been using payment-enabled mobile phones for some years. this is quite obviously a viable option, and as most people out and about these days have a mobile phone, it makes sense and would be very handy.

alternatively, ensure businesses who receive payments are card-payment equipped. they have 7 years to sort themselves out! should be long enough.

let's be honest - cheques are dated and have quite an overhead in terms of man time when compared to alternative methods currently available that are far easier and quicker (I'm talking about time taken to design, manufacture, fill in, post / pay in, enter into a system in the bank, yada yada). things change, move on.

sometimes we need someone to make the decision to stop using this, that or the other, other wise we would be sat in a position whereby we say "it's comfy like this" and we would never progress. Man didn't get to the Moon, invent the combustion engine or learn the art of flight because he sat on his hands saying "what we have will do - why look at something different?". We did it because it's progression. I don't think people should see this as removing something 'comfortable' as much as it is giving the opportunity for something better to be given a place.

http://www.youtube.com/watch?v=6z1DidldxUo

peace out

Oh for heavens sakes it's only paper..the problem is that everyone wants to make something simple MORE complicated.

I can see us doing away with all cash at this rate..after all coins and paper money are a sort of cheque,a promise to hand over the value of the coin or note.It's simple and relatively uncomplicated.So are cheques.

[Stuart]

Originally Posted by idi banashapan

in japan I believe they have been using payment-enabled mobile phones for some years. this is quite obviously a viable option, and as most people out and about these days have a mobile phone, it makes sense and would be very handy.

alternatively, ensure businesses who receive payments are card-payment equipped. they have 7 years to sort themselves out! should be long enough.

let's be honest - cheques are dated and have quite an overhead in terms of man time when compared to alternative methods currently available that are far easier and quicker (I'm talking about time taken to design, manufacture, fill in, post / pay in, enter into a system in the bank, yada yada). things change, move on.

sometimes we need someone to make the decision to stop using this, that or the other, other wise we would be sat in a position whereby we say "it's comfy like this" and we would never progress. Man didn't get to the Moon, invent the combustion engine or learn the art of flight because he sat on his hands saying "what we have will do - why look at something different?". We did it because it's progression. I don't think people should see this as removing something 'comfortable' as much as it is giving the opportunity for something better to be given a place.

http://www.youtube.com/watch?v=6z1DidldxUo

peace out

Don't get me wrong, I tend to use cards rather than cheques. However, cheques are handy for paying someone money where cards aren't.

1) Not all businesses accept cards. Admittedly, in my experience, they tend not to accept cheques either though.

2) Cheques are handy if you need to send someone money and you don't have time to buy a postal order. In these cases, the person concerned probably won't have a credit card processing machine.

[idi banashapan]

Originally Posted by Stuart

1) Not all businesses accept cards. Admittedly, in my experience, they tend not to accept cheques either though.

2) Cheques are handy if you need to send someone money and you don't have time to buy a postal order. In these cases, the person concerned probably won't have a credit card processing machine.

1) which is why I said to ensure businesses get themselves card-payment ready. They have 7 years to buy a POS

2) true, but making a payment online is very easy and very quick. I know some will say "but not everyone is online". Well again, true, but they still built roads even though not everyone had a new-fangled horseless carriage!!!

Things change. One way or another, you have to deal with it regardless of the excuses or perceived personal inconveniences. I don't like the fact I now have to pay £20 for an updated photo driving license every 10 years, but that's just the way it is. The DVLA were never going to keep paper only licenses forever!

Originally Posted by idi banashapan

1) which is why I said to ensure businesses get themselves card-payment ready. They have 7 years to buy a POS

2) true, but making a payment online is very easy and very quick. I know some will say "but not everyone is online". Well again, true, but they still built roads even though not everyone had a new-fangled horseless carriage!!!

Things change. One way or another, you have to deal with it regardless of the excuses or perceived personal inconveniences. I don't like the fact I now have to pay £20 for an updated photo driving license every 10 years, but that's just the way it is. The DVLA were never going to keep paper only licenses forever!

Roads were built for people to walk on..long before horse and carriages.The Romans prided themselves on how quickly a Legion could travel on foot because of the roads they built.

Yes we must embrace technology but sometimes what is being replaced by technology works just as well.

I know I sound like a Luddite but ALL I'm suggesting is that sometimes we are too much in a hurry to chase the more complicated for the sake of it.

[Stuart]

Originally Posted by idi banashapan

1) which is why I said to ensure businesses get themselves card-payment ready. They have 7 years to buy a POS

Actually I know of a few businesses who did have the card terminals, but stopped using them either because of the processing costs involved, or because they are vulnerable to fraud.

2) true, but making a payment online is very easy and very quick. I know some will say "but not everyone is online". Well again, true, but they still built roads even though not everyone had a new-fangled horseless carriage!!!

Interesting that you bring up the example of roads, because while they have been built, people still have the option of using vehicles that are not motorised on them, or even walking.

Shutting down the cheque processing system will stop people being able to use cheques.

Anyway, I was making the point that the new methods are not always as conveniant as they appear.