General > General Technical Chat
Cheques being phased out in Australia by 2030
David_AVD:
I officially stopped accepting cheques about 5 years ago, but in reality I think I only ever saw one or two in the previous 10 years before that.
I'd much rather have the funds in my business account that night even with the 1 - 2 % transaction fee. No worry about going to the bank, will the cheque clear, etc.
I see a mix of American Express, MasterCard, Visa and debit cards and the odd cash payment. Good riddance to cheques I say!
As a consumer I pay with credit card, EFT or cash.
TimFox:
Many of the above posters not only do not like or use checks themselves, they want to stop everyone else from using them.
nctnico:
--- Quote from: Halcyon on October 08, 2023, 05:59:13 am ---This was something a few of us were discussing over on the EEVblog IRC channel today.
I learned that the Australian government will be phasing out the use of cheques by no later than 2030. Which to me is still quite late considering the use of cheques in Australia is almost zero today.
Most Australian banks haven't offered cheques for most accounts for some time, however they will still process cheques that are sent to them (at least for now).
--- End quote ---
Last time I used a cheque must have been nearly 30 years ago. I recall buying my first logic analyser using a cheque but that was one of the last things I paid with a cheque. Nowadays I use my phone to transfer money to somebody directly and they can see the transaction entering into their bank account near realtime. No risk of a cheque received from somebody getting declined or forgetting you wrote one and run out of money.
Bud:
--- Quote from: Halcyon on October 08, 2023, 08:49:37 pm ---You can walk down to a local office supply store, buy a $30 card reader and start accepting card payments in minutes. Card fees are typically under 2%, or capped at some nominal fee like $4 if the transaction is particularly large.
--- End quote ---
I do not believe it is that simple. There are likely monthly system connection fee. No payment service provider would allow you to jump in that simple.
nctnico:
--- Quote from: Bud on October 08, 2023, 09:34:48 pm ---
--- Quote from: Halcyon on October 08, 2023, 08:49:37 pm ---You can walk down to a local office supply store, buy a $30 card reader and start accepting card payments in minutes. Card fees are typically under 2%, or capped at some nominal fee like $4 if the transaction is particularly large.
--- End quote ---
I do not believe it is that simple. There are likely monthly system connection fee. No payment service provider would allow you to jump in that simple.
--- End quote ---
It is that simple (and cheap). You can buy these card readers which connect to a mobile phone app. Prices are as Halcyon indicated.
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