Dec 18
This seems a good idea:
After more than three centuries, the humble check is set to become a historic relic after British banks voted to phase it out in favor of more modern payment methods.
I write one or two personal checks a year, when my wife gives me a check to use. I botched the last one so bad it was more initialed than signed.
Plus it pains me how many people get in trouble writing checks – both legally and financially. The penalties for bouncing a check aim directly at a class of people that can’t afford them ( check bouncers).
Now if only our government could stop writing checks…
December 18th, 2009 at 4:18 pm
Will someone tell this to my landlord? Checks are the ONLY payment method they will accept.
December 18th, 2009 at 4:19 pm
I guess in lower tech/volume business, checks make sense. But if I were them I’d prefer a direct deposit or bank draw monthly.
December 18th, 2009 at 9:12 pm
Oh goody! The Federal Reserve Bank will now need cash instead of a check to buy US Treasury bonds. Can we now sell our Federal Reserve Notes for gold specie?