Cheque-ing out? Future of cheques in the balance
Wednesday, December 16th, 2009 at
7:20 pm
The first one was written 350 years ago, but now it seems we don’t use cheques enough – and plans are being discussed to phase them out. Follow us on twitter at twitter.com … cheques “cheque payment” “credit providers” banks “mobile phones”
Cashless Society, RFID control grid or am I just being paranoid. Cash just like credit its. Created out of thin air, it would be all too easy just to say we don’t need to write of issue checks anymore. But to eliminate check issuance and check processing it saves the banks millions of dollars/pounds in processing fees and by cutting overhead processing transactions along with scanning and archiving cleared checks. This seems like a money saving scheme on the banks part.
That’s progress I suppose. At least Electronic Transfer methods can’t bounce…. or can they?