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| Cheques being phased out in Australia by 2030 |
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| Piper259:
In my world, paper checks are a thing of the past, but my dad still thinks it's the best way to give someone money. I use Bank of America ATMs and have never experienced any difficulties, and yet I believe the financial system needs to move forward. I'll add that, for example, I have been following the DashDevs team for a long time, which has successfully launched several dozen fintech products, and I believe such companies are the future. I hope that such innovations and the development of the fintech sector will allow us to take the next step and help everyone master convenient financial management. |
| TimFox:
A comment about needing multiple cards: In my post above about my experiences with fraudulent charges to my Visa or American Express cards, in both cases I had to wait a few days for a replacement card. (American Express was willing to FedEx one quickly, but I was literally leaving that morning for Japan.) While waiting for that replacement, I was able to use the other one. |
| nctnico:
--- Quote from: Halcyon on October 17, 2023, 11:34:44 pm ---Not at all. In fact, I demonstrated the opposite by using a single account for the past 25 years. I explained how a single card can have redundancies built-in. I simply said "many people have" multiple accounts, therefore increasing that redundancy even more. That's simply another option and a choice consumers have if they want to diversify their financial products. --- End quote --- If you have a mortgage and/or loan, it is mandatory to have multiple accounts at different banks. Don't keep your money at a bank where you loaned from. The fine print says that if you get behind with payments, they can claw whatever they can from your bank account. That will likely happen at the most inconvenient moment. |
| SiliconWizard:
--- Quote from: nctnico on October 18, 2023, 01:20:02 pm --- --- Quote from: Halcyon on October 17, 2023, 11:34:44 pm ---Not at all. In fact, I demonstrated the opposite by using a single account for the past 25 years. I explained how a single card can have redundancies built-in. I simply said "many people have" multiple accounts, therefore increasing that redundancy even more. That's simply another option and a choice consumers have if they want to diversify their financial products. --- End quote --- If you have a mortgage and/or loan, it is mandatory to have multiple accounts at different banks. Don't keep your money at a bank where you loaned from. The fine print says that if you get behind with payments, they can claw whatever they can from your bank account. That will likely happen at the most inconvenient moment. --- End quote --- Yep, quite right. And usually the bank you're getting the loan from will try to pressure you into placing as much money in their bank as you can. If you're a bit short, they will even just refuse the loan if you don't. Don't get intimidated. Another factor for having multiple accounts is for the case your bank goes uh, bankrupt. There's always a limit for how much of your money will be guaranteed, and even so, if things go real sour, you might be able to shove the guarantee up your bottom. So yeah, not all your eggs in the same basket, that's nothing new really. |
| Halcyon:
--- Quote from: tggzzz on October 18, 2023, 10:01:19 am ---That's avoiding the directly relevant analogy. Not a good debating tactic, which makes it look like you don't want to concede that your position is weak. --- End quote --- I wouldn't say my position on this is weak at all. I've explained various different scenarios to you, but because your biases don't let you see past it, you seem to think all my arguments are invalid (or less valid than yours). If I was to turn the tables around, I'd say you haven't presented a strong case why these old methods should be retained. You're also arguing for something that the vast majority of the community have demonstrated that they don't want or need. You're trying to attack the person, rather than disputing the facts, which is a pretty naive move. All I'm getting from you is "it's a dumb idea, I'm right, everyone else is wrong" and when challenged, you attempt to point out flaws in other peoples' debating tactics. You might as well just call me a "poo poo head" at this point. --- Quote from: SiliconWizard on October 18, 2023, 11:17:37 pm --- --- Quote from: nctnico on October 18, 2023, 01:20:02 pm --- --- Quote from: Halcyon on October 17, 2023, 11:34:44 pm ---Not at all. In fact, I demonstrated the opposite by using a single account for the past 25 years. I explained how a single card can have redundancies built-in. I simply said "many people have" multiple accounts, therefore increasing that redundancy even more. That's simply another option and a choice consumers have if they want to diversify their financial products. --- End quote --- If you have a mortgage and/or loan, it is mandatory to have multiple accounts at different banks. Don't keep your money at a bank where you loaned from. The fine print says that if you get behind with payments, they can claw whatever they can from your bank account. That will likely happen at the most inconvenient moment. --- End quote --- Yep, quite right. And usually the bank you're getting the loan from will try to pressure you into placing as much money in their bank as you can. If you're a bit short, they will even just refuse the loan if you don't. Don't get intimidated. Another factor for having multiple accounts is for the case your bank goes uh, bankrupt. There's always a limit for how much of your money will be guaranteed, and even so, if things go real sour, you might be able to shove the guarantee up your bottom. So yeah, not all your eggs in the same basket, that's nothing new really. --- End quote --- Precisely! It's actually not a "ridiculous and impractical" idea at all. |
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