General > General Technical Chat
Cheques being phased out in Australia by 2030
<< < (11/59) > >>
tggzzz:

--- Quote from: DimitriP on October 08, 2023, 10:42:52 pm ---
--- Quote from: Bud on October 08, 2023, 09:41:06 pm ---
--- Quote from: nctnico on October 08, 2023, 09:34:16 pm ---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.

--- End quote ---
Personal electronic transactions here have limits. To pay big amounts like to replace the roof, do the driveway, instal HVAC equipment, build a fence, etc, it is easier to write a single check then spread payments over several days. Also make contractors happy for same reason.

--- End quote ---

Like somone  said earlier ......   2% to 5% of a "big amount" is still a big amount :)

--- End quote ---

My limited understanding is that banks charge the same for handling cash from businesses.
nctnico:

--- Quote from: Bud on October 08, 2023, 09:41:06 pm ---
--- Quote from: nctnico on October 08, 2023, 09:34:16 pm ---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.

--- End quote ---
Personal electronic transactions here have limits. To pay big amounts like to replace the roof, do the driveway, instal HVAC equipment, build a fence, etc, it is easier to write a single check then spread payments over several days. Also make contractors happy for same reason.

--- End quote ---
No. I can raise the limit temporarily and make a single large payment. Same for things like buying a car with a debit card.
mikeselectricstuff:

--- Quote from: tggzzz on October 08, 2023, 10:05:47 pm ---Banks would like to save money by phasing out cheques. Use of cheques is diminishing, therefore the costs are diminishing - and that reason for preventing cheque use doesn't hold water.

--- End quote ---
Of course it does - if usage is low, the cost per cheque increases massively. Equipment, training new staff, keeping old systems going/integrating with new systems, increased printing costs for low quantities and probably lots more.
At some point it's just not worth the hassle.
   
DimitriP:

--- Quote ---There is a reason most businesses these days don't use Telegrams, Telex, or even fax for that matter. How long do you go out of your way to support obsolete methods?
--- End quote ---

"obsolete" is not obsolete until IT IS obsolete.
unfortunately most of the time, it's used to paint negatively a product or service the current salesman or company can't sell you.
esigning subscription, phone company replacing POTS with VOIP etc 

just wait until "cloud oscilloscopes" show up and the only way to use it would be to sign into your subscription acccount and the oscilloscope salesman will say "stand alone oscilloscopes are "obsolete" "

1995, microsoft guy whose name I wish I knew said "No one is using the comand prompt any more".
Then Microsoft "innovated" with Windows server core, powershell, and the "windows terminal".
Command prompt...not so obsolete.


DimitriP:

--- Quote ---My limited understanding is that banks charge the same for handling cash from businesses.
--- End quote ---

The problem with this thread is we are dealing with different personalities, from different backgrounds from different countries.

I don't know what fees businesses get chanrged for having a bank account in the use.
But I do know that when I deposit a check for $100 , I do end up with $100 in the account.
When you take a card payment for $100 , you end up with less than $100.

Just ask a business that doesn't take american express, why they don't. They'll tell you :)
Navigation
Message Index
Next page
Previous page
There was an error while thanking
Thanking...

Go to full version
Powered by SMFPacks Advanced Attachments Uploader Mod