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demise of cheques

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gruff5
676196.  Fri Feb 26, 2010 10:59 am Reply with quote

anyone else think the demise of the facility to process cheques is really stupid and short-sighted?

currently (ho ho!) our electricity very rarely blacks out these days, and we blithely assume it's just as likely to always be available as is breathable air

but with a few days blackout (or centralised computer problem) - then it's no ATM cash, no payout of cash from computer-reliant bank counters & no use of Chip-n-pin cards

unless you have cash stashed, you won't be able to buy food in the supermarket or anything

blackouts are coming in 2012 courtesy of a solar storm, as predicted by NASA and NAS

 
Hummingbird
676203.  Fri Feb 26, 2010 11:09 am Reply with quote

This is clearly not going to work. I use checks most months. How the hell are voluntary organisations going to cope? Have company credit cards for volunteers buying paper plates and packets of tea?

 
Neotenic
676205.  Fri Feb 26, 2010 11:14 am Reply with quote

If ATMs stop working, that means the whole banking system would have crashed.

UInder those circumstances, cheques would be equally worthless.

Oh, and then there's this;

Quote:
There is nothing wrong with the National Research Council report on heliophysics, and NASA is very pleased with it. As you note, this report includes a worst-case analysis of what could happen today if there were a repetition of the biggest solar storm ever recorded (in 1859). The problem is the way such information can be used out of context. There is no reason to expect such a large solar storm in the near future, certainly not in 2012 specifically. Your reference to “the event in 2012”, and the use of this information by Fox News, illustrates this problem. There is no prediction of an “event in 2012”. We don’t even know if the next solar maximum will take place in that year. There is analogous misunderstanding or misuse of statistics on asteroid and comet impacts. Such impacts are extremely rare, but always possible; but there is no connection between this low-level risk and the dire claims some people are making for 2012. The whole 2012 disaster scenario is a hoax, fueled by ads for the Hollywood science-fiction disaster film “2012”. I can only hope that most people are able to distinguish Hollywood film plots from reality.

David Morrison
NAI Senior Scientist
March 23, 2009


http://astrobiology.nasa.gov/ask-an-astrobiologist/question/?id=5283

 
Neotenic
676206.  Fri Feb 26, 2010 11:17 am Reply with quote

Quote:
How the hell are voluntary organisations going to cope? Have company credit cards for volunteers buying paper plates and packets of tea?


Have you tried paying by cheque in Tesco at any point in the last two years? They stopped accepting them in 2008.

 
Hummingbird
676214.  Fri Feb 26, 2010 11:23 am Reply with quote

Yes, but you keep the receipt and then they give you a cheque for the expense.

School committees run on cheques.

 
Jenny
676223.  Fri Feb 26, 2010 11:33 am Reply with quote

There are an awful lot of situations I can think of where there would be a need to accept payments but no capability of processing debit or credit cards. I think this is a dumb idea.

 
Zarafa
676225.  Fri Feb 26, 2010 11:35 am Reply with quote

Well, as a foreign student living in Britain, I'm not allowed to have a chequebook anyway. I know we're a relatively small proportion of the overall population, but we do manage to get by in civilized society even without cheques. But even so--the vast majority of the time it isn't a problem but I have had to draft the occasional postal order, which can be a little bit annoying.

 
Neotenic
676227.  Fri Feb 26, 2010 11:39 am Reply with quote

Quote:
School committees run on cheques.


Quote:
There are an awful lot of situations I can think of where there would be a need to accept payments but no capability of processing debit or credit cards. I think this is a dumb idea.


Paypal?

Cheques served a purpose, but in todays world, they are really a dumb idea - and ludicrously easy to forge or use fraudulently.

I can't remember the last time I wrote a cheque. For person-to-person transactions, then simply handing them the cash or electronic bank transfers has worked fine.

 
CB27
676233.  Fri Feb 26, 2010 11:48 am Reply with quote

Have to admit it's been years since I used a cheque, and most people I know are in the same position.

There are facilities in place for small organisations such as committees and charities where you can get prepaid cards, and their cost is about the same, if not cheaper than the processing of a cheque (which btw, is much higher than other types of receipts). There are plenty of other facilities as well, it's up to businesses/organisations to find out about them if they want to continue with their custom.

And with the development of swipe technology I look forward to the day I don't need to carry any cash on me whatsover.

 
Hummingbird
676249.  Fri Feb 26, 2010 12:05 pm Reply with quote

Getting cash involves going to an ATM - more fuss for the committee treasurer who is usually already up to her ears. I know quite a few people who don't use paypal or online banking. If that is the only way of payment then it's going to exclude certain types of people from volunteering.

 
barbados
676251.  Fri Feb 26, 2010 12:06 pm Reply with quote

To answer the OP.

If there were to be a communications failure at where the data stored in your chip and pin cards wasn't able to be transmitted, there is a simple thing the stores will do.

Revert back to the card vouchers they used prior to chip and pin.

 
Jenny
676255.  Fri Feb 26, 2010 12:09 pm Reply with quote

Neotenic wrote:
Quote:
School committees run on cheques.


Quote:
There are an awful lot of situations I can think of where there would be a need to accept payments but no capability of processing debit or credit cards. I think this is a dumb idea.


Paypal?

Cheques served a purpose, but in todays world, they are really a dumb idea - and ludicrously easy to forge or use fraudulently.

I can't remember the last time I wrote a cheque. For person-to-person transactions, then simply handing them the cash or electronic bank transfers has worked fine.


Neo, I can only think you have never been to a jumble sale or school fete, where there are often items for sale and willing buyers who simply haven't brought enough cash with them and aren't willing or able to go to an ATM that might be some distance away and return with more cash.

 
suze
676259.  Fri Feb 26, 2010 12:13 pm Reply with quote

I certainly don't write a cheque very often. But more often than never, and as far as I can tell the replacement for all situations does not yet exist. Here are two:

1. That already mentioned by Hummingbird. When Mrs Miggins has submitted her receipts for £2.68 to the village hall treasurer, he writes her a cheque. He can't give her £2.68 in cash because he's not allowed to handle cash (company policy), and Mrs Miggins doesn't have a computer and doesn't know the difference between Paypal and Pope Paul.

2. Suppose I get some builders in to do some work at my home. They don't take plastic, partly because they don't have the machinery and partly because they have no intention of paying tax on the money I give them. And I don't really want to carry a four figure sum in cash home from the ATM to pay them. How do I pay them if a cheque is not an option?

 
CB27
676264.  Fri Feb 26, 2010 12:26 pm Reply with quote

Part of the drive for digital money is to do away with undeclared income, so I wouldn't use builders as an example for keeping cheques :)

As for expenses on a small scale, as I mentioned before there's no need for people individually to go online because there are schemes for prepaid cards for small organisations, and if we're talking about reimbursements of small amounts then that's what petty cash is there for and if someone decides not to use it then it's their fault because it's them who've taken that facility away, not banks or the Government.

 
Hummingbird
676272.  Fri Feb 26, 2010 12:34 pm Reply with quote

How do the prepaid cards work? Can you write them for odd amounts and without having to go somewhere?

The point of cheques is they are in your handbag or in the drawer at home, not in the nearest town, and ready to be turned into the exact value of your choice.

 

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