Cheques: does anybody still use them?

[Karafan]

We're still using the cutlery we got with our Green Shield Stamps!

Last week I used a rotary hand whisk (remember those?) at a friend's house. I commented on the fact that these are very seldom seen now and he proudly replied "bought with Embassy coupons, circa 1975!".

[MrGongGong]

Last week I used a rotary hand whisk (remember those?) at a friend's house. I commented on the fact that these are very seldom seen now and he proudly replied "bought with Embassy coupons, circa 1975!".

There was one in the electroacoustic studio I was in today complete with attached contact microphone

[amateur51]

Postal orders? That takes me back. I assume, Ams, that you send them to your nephew at Greyfriars to spend in the tuck shop?

Yaroo, Yaroo!

[amateur51]

Nice things from the past

10 bob notes.

Green shield stamp shops. Passed an afternoon, and you got a new toaster.

The old half-crown coin. If a kindly visitor/rello slipped me one of these when I was a nipper, I was wealthy beyond imagination - these days the nearest physical (and monetary) equivalent is the £2 coin.

[ahinton]

The old half-crown coin. If a kindly visitor/rello slipped me one of these when I was a nipper, I was wealthy beyond imagination - these days the nearest physical (and monetary) equivalent is the £2 coin.

And not so very near at that! I do recall a similar feeling when, as a child, I happened to dig up a crown in the garden and, considering how long it had been there, its condition was remarkably fine when I'd scraped the mud off it. I kept it for some time and then went to a dealer with it who asked me if I'd be happy to accept £25 for it, which of course I was; I can recall my admiration for his honesty to this day when he said "then you'd be a fool - this one's from 1934 and quite a rarity, so I'll be pleased to pay you £400 for it but it'll have to be by cheque - do you have a bank account?". I didn't have one but very soon opened one!

These days, though, I just don't see the point of cheques, especially when they have to be sent through the ever increasingly unreliable mail "service"; A sends a cheque to B in the mail on Monday, B gets it on Wednesday, goes to the bank with it on Friday and it clears the following Tuesday or Wednesday compared to A transfers a sum to B on the faster payment system either by phone or online and B receives it as cleared into his/her account usually within a minute or so is surely a no-brainer...

[MrGongGong]

These days, though, I just don't see the point of cheques,.

Some folks aren't in a hurry
Some folks can't afford to set up card payments

The demise of being paid by cheque has made some things more tricky for those of us who are self employed, it's a real pain to get paid by a variety of methods and means more not less work cross referencing invoices (physical and electronic) with payments (physical and electronic) ..........

[agingjb]

I fear that those of us who have the occasional need for cheques, and we may even be in a majority, will be overruled by our rulers and bankers, who delight in reducing our choices, and are supported by those who not only happen not to have that need, but also are happy to see anything that they do not use abolished.

[amateur51]

And not so very near at that! I do recall a similar feeling when, as a child, I happened to dig up a crown in the garden and, considering how long it had been there, its condition was remarkably fine when I'd scraped the mud off it. I kept it for some time and then went to a dealer with it who asked me if I'd be happy to accept £25 for it, which of course I was; I can recall my admiration for his honesty to this day when he said "then you'd be a fool - this one's from 1934 and quite a rarity, so I'll be pleased to pay you £400 for it but it'll have to be by cheque - do you have a bank account?". I didn't have one but very soon opened one!

A heart-warming story, ahinton - many thanks

[ahinton]

I fear that those of us who have the occasional need for cheques, and we may even be in a majority, will be overruled by our rulers and bankers, who delight in reducing our choices, and are supported by those who not only happen not to have that need, but also are happy to see anything that they do not use abolished.

Needs change; cheques were once vital in the days before electronic transfer of funds, but the additional security afforded by the latter, together with the very much faster means that it affords to get cleared funds from A to B, have ensured the redundancy of cheques. I do not support their abolition to suit the convenience of the banks; I do so to suit mine and everyone else's who needs to move money from one place to another.

[ahinton]

Some folks aren't in a hurry

These days, most people probably are! - but those who aren't can delay payments if so they choose.

Some folks can't afford to set up card payments

That's not necessary; telephone and online banking makes BACS transfers under the faster payment system available to all at no charge.

The demise of being paid by cheque has made some things more tricky for those of us who are self employed, it's a real pain to get paid by a variety of methods and means more not less work cross referencing invoices (physical and electronic) with payments (physical and electronic) ..........

It doesn't bother me and I've been self-employed ever since I began to work; I receive most funds via direct bank transfer or PayPal and it's easy (or at least I find it so). My bank also provides fully itemised statements of transactions, which also facilitates matters; this admittedly doesn't come cheap, but it's 100% reliable, saves me lots of time, protects me if I ever have a tax investigation (of which I've had two so far) and I set my bank charges against tax in any case.

[agingjb]

So, anything only needed or wanted by a few must be abolished. Exit Radio 3.

[Tenor Freak]

Yes, not often, but I did write a cheque the other day to a local business, and my wife often has to write cheques to our kids' schools because they still use them.

[MrGongGong]

These days, most people probably are! - but those who aren't can delay payments if so they choose.

I think we should maybe think about whether this is healthy or not

That's not necessary; telephone and online banking makes BACS transfers under the faster payment system available to all at no charge.

I'll suggest that to the small garage that fixes my car then

It doesn't bother me and I've been self-employed ever since I began to work; I receive most funds via direct bank transfer or PayPal and it's easy (or at least I find it so). My bank also provides fully itemised statements of transactions, which also facilitates matters; this admittedly doesn't come cheap, but it's 100% reliable, saves me lots of time, protects me if I ever have a tax investigation (of which I've had two so far) and I set my bank charges against tax in any case.

I think this proves my point. I'm NOT in the business of trying to make as much money as possible , to spend any time on tedious finance seems to be something that is necessary but a pain. I frequently get paid in non sterling cheques or sometimes cash and paying for the bank to operate some over priced "business" account is unnecessary and prohibitively expensive. (here comes mr RM to tell me i'm committing a gross fraud again ). The mixture of payment methods is what takes up time in sorting out and some of the places I go are not likely to go "chequeless" in the forseeable future.

[ahinton]

So, anything only needed or wanted by a few must be abolished. Exit Radio 3.

Er - no, actually; a handful of people would really like cheques to remain (and who pays for that) whereas more than a million people reveal that they want Radio 3 because they listen to it.

[ahinton]

I think we should maybe think about whether this is healthy or not

Whether what "is healthy or not"? The ability to delay payments for people who aren't in a hurry? Some people might not be in a hurry to pay but their intended recipients might be in more of a hurry to receive!

I'll suggest that to the small garage that fixes my car then

Why not stop laughing and ask them? Mine accepts credit cards but, for those who prefer not to pay using these, their preferred method of payment is direct bank transfer.

I think this proves my point. I'm NOT in the business of trying to make as much money as possible , to spend any time on tedious finance seems to be something that is necessary but a pain. I frequently get paid in non sterling cheques or sometimes cash and paying for the bank to operate some over priced "business" account is unnecessary and prohibitively expensive. (here comes mr RM to tell me i'm committing a gross fraud again ). The mixture of payment methods is what takes up time in sorting out and some of the places I go are not likely to go "chequeless" in the forseeable future.

Those places will have to go chequeless when cheques are abolished - and it's not all about banks trying to make even more money, because cheques cost money to produce, money to send and more money to process than do direct transfers which, whilst admittedly cheaper for banks than cheque processing are also cheaper for the customers who make and receive them, since banks do not usually charge for this service - and lets not forget that a few tens of millions of cheques less mean a few less trees to be cut down to enable their manufacture and rather less energy involved in that manufacture and distribution.