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  #1  
Old 12-23-2009, 04:20 AM
Texas Star Texas Star is offline
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Default Will Checks Become Obsolete?

Stores no longer take checks; debit cards replace checks - MSN Money

This financial article says that checks will become obsolete within 10 years.

I like them. I'm one of the consumers cited who think they make it easier to keep track of what I'm spending, and I don't like using credit cards. Debit cards scare me a little, like anything electronic. And I certainly dol't do any banking Online.

How do others here feel about this? Do you still use checks?

I don't like the self service stations in some grocers, either. I like having personal service. I don't think any money saved by grocers by not having checkout employees will be passed on to customers, anyway. It'll just be added profit.
And many of today's checkout employees probably can't get many other jobs.

From what I've seen of most, they'll be a welfare burden.

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Old 12-23-2009, 04:32 AM
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An embedded chip may be the next step. Who knows?

Trying to pay with checks or cash on a trip already leads to problems with motels, etc.
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Old 12-23-2009, 05:50 AM
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Yeah, and I think that refusing cash should be illegal. It either is, or isn't, legal tender for all debts, public or private.

Some merchants still give discounts for paying cash, thank goodness.

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Old 12-23-2009, 08:04 AM
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Quote:
Originally Posted by Texas Star View Post
Stores no longer take checks; debit cards replace checks - MSN Money

This financial article says that checks will become obsolete within 10 years.

I like them. I'm one of the consumers cited who think they make it easier to keep track of what I'm spending, and I don't like using credit cards. Debit cards scare me a little, like anything electronic. And I certainly don't do any banking Online.

How do others here feel about this? Do you still use checks?

I don't like the self service stations in some grocers, either. I like having personal service. I don't think any money saved by grocers by not having checkout employees will be passed on to customers, anyway. It'll just be added profit.
And many of today's checkout employees probably can't get many other jobs.

From what I've seen of most, they'll be a welfare burden.

T-Star
Checks?

I still have both books from when I opened my account 12 years ago. I have used a few but most were used as canceled so that I could enroll in direct deposit through the different jobs I've taken. Some places draft your check electronically and give it back to you- so that is technically like using a debit card without the security "against fraud". If you could write a check you can swipe a card the money comes from the same place. Unlike losing a check book Visa and MasterCard's have a security feature that protects you from unauthorized usage and fraud if you loss the card you call your bank and that is that- try doing any of that with a check. If you are unaware about the fraud's that have been taking place the last TEN years were people use their computer to make copies of your check to drain your bank account you should consider reading a bit more about how big check fraud really is today. In any event the only online banking I do FROM my secure connection/computer is to look at transactions which is a great tool in balancing the "Check Book" and as for bills they get paid ONLINE (no automatics for me) for the past 6 years I save TIME and MONEY that way. I do get an occasional check from the renters and side jobs but I truly dislike having to go to that bank and cashing that thing I do prefer money orders since you can cash them at your bank without having to wait for them to clear. I think ten years is to long of a wait so let's hope the banks last that long.
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Old 12-23-2009, 08:34 AM
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The times they are a changin. Lead, follow, or get out of the way. Those wagon people movin across the land are killing all the buffalo. Where does it all stop. It doesn't, it is called progress. I remember when checks first came into use and you couldn't cash one out of town to save yourself. Cash was king. Now it is electronic banking and tomorrow will be something else. Figure out what it will be tomorrow and you can bump Bill Gates off his throne. Try to stop progress and it will crush you like a steam roller.
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Old 12-23-2009, 09:25 AM
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I resisted using a debit card until about a year ago and instead continued to write checks. Gradually I made the switch to a debit card, and what a great change it was. Now I rarely write a check and don't even bother to carry a check book most of the time.
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Old 12-23-2009, 09:28 AM
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I still use checks, where it's allowed. Seems that most people don't use checks anymore though.

Don't want a debit card. Cut up the atm cards sent to me.

Don't like online banking or paying bills online. Wife pays some bills online, there's no paper, so I can't find names or account numbers when needed. Tees me off, I like having paper files where the info. is handy if needed. Couple years ago we had two five day power outages, one in the summer and one in the winter, no way to pay bills, find info. or get anything done online.

Cash is good, nice to have enough cash in your pocket to buy a ticket to England or Australia if needed, or buy that minty S&W or Colt that you get one chance at buying right now.
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Old 12-23-2009, 09:28 AM
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We still pay most all our bills with checks, but that is just about the only time we use them. Most other purchases are done with a credit card. I don't really like using our cards that much but it just seems easier nowadays. We never do online banking.
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Old 12-23-2009, 09:34 AM
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I probably have written 10 checks all year because between my debit card and bill pay there is no need to write them. This trend and email have really reduced the volume of letter mail traverling around the country every day and the number of checks being printed.
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Old 12-23-2009, 09:55 AM
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In our business our primary customers are trade folks. Plumbers, electricians and other contractors. I have a hard time ever imagining us telling them that we can't take their cash or checks any longer. Most of them are great guys but I dont see them going to a non-paper, non-cash way of doing business. But I have been wrong before.
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Old 12-23-2009, 10:10 AM
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I use checks when i have to;otherwise i use credit cards[never a debit card-no protection],bill pay,online banking,etc.I have lived on a credit card for 15 or more years.Quick!!! Checks obsolete?I don't think so.One more way of paying bills,etc.
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  #12  
Old 12-23-2009, 10:10 AM
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Quote:
Originally Posted by ingmansinc View Post
The times they are a changin. Lead, follow, or get out of the way. Those wagon people movin across the land are killing all the buffalo. Where does it all stop. It doesn't, it is called progress. I remember when checks first came into use and you couldn't cash one out of town to save yourself. Cash was king. Now it is electronic banking and tomorrow will be something else. Figure out what it will be tomorrow and you can bump Bill Gates off his throne. Try to stop progress and it will crush you like a steam roller.
SO I guess what you're sayin' is that I ought to dump my slide rulers now while I can still get something for them.

In all seriousness tough, it is a HUGE problem for me. The legal system in my opinion has not caught up with the paperless commerce-specifically the management of law offices. I maintain a trust account and it is subject to immediate audit ant any time. A paper trail is absolutely necessary and that includes the original cancelled checks for MY protection. In my opinion, the Bar Association has not yet provided a decent protocol for us to go electronic yet. Hell, I still fight my bank tooth and nail to get the original checks back rather than those copies as I absolutely need front and back and the Bar association has in their great wisdon not provided any guidance other that "It's your problem, deal with it".
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Old 12-23-2009, 10:18 AM
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Everyone here pays their rent with a check, although HUD payments have switched to auto deposit. I use checks for person-to-person transactions and credit/debit/electronic for commercial transactions.
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Old 12-23-2009, 10:42 AM
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The banks sure would like to see checks become obsolete. Processing all of that paper has become a huge profit drain. The only problem is that current law requires consumers to opt for electronic transactions. The banks cannot force anyone to conduct an electronic transaction. Now, merchants, employers, and anyone giving you money can certainly dictate the terms of the payment, but a bank cannot compel a customer to use an ATM, a debit card, or make any other kind of electronic transaction. Remember signing that additional form "to get an ATM card?" It was an agreement to conduct electronic transactions. But, even with that the bank cannot force you to stop using checks and traditional teller services. But, they can "convince" you with lower/no transaction fees.

Looks like thirty years of trying to sell consumers on the idea that ATM cards, direct deposits, etcetra are safe, secure, and convenient are on the verge of paying off. I think a lower volume of traditional banking services such as writing checks and withdrawing cash through a teller rather than an ATM will eventually translate into an opportunity for the banks to charge higher use fees to those who still insist on using such services. Current law conceivably protects consumers from such practices, but as fewer and fewer consumers engage in tradtional banking practices they will represent less and less of a constituency and the banks will get their cost cutting, profit maximizing way.

Until then, I will continue writing checks to "pay bills" and using cash for most everything else.

I love the comment about making it illegal to refuse cash payments for anything. The further we get from using cash, the more control we give to the behemoths of government and business that we apparently cannot control.

Last edited by N_itis; 12-23-2009 at 10:44 AM.
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  #15  
Old 12-23-2009, 10:46 AM
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Quote:
Originally Posted by OKFC05 View Post
Trying to pay with checks or cash on a trip already leads to problems with motels, etc.
I've never had a problem paying for a motel with cash. You will have a problem making a reservation, though.

The only place my cash has ever been refused is the IRS office.
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Old 12-23-2009, 10:57 AM
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Just wait until an $80.00 transaction is turned into an $800.00 transaction. That’s an attention grabber. This paperless thing isn’t all its cracked up to be. The system isn’t set up for your convenience. It’s a swipe transaction in more ways than one.
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Old 12-23-2009, 11:28 AM
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I can't accept cash here at the apartment building which is overseen by HUD and the state. Cash has a tendency to disappear and they want paper records.

However, now that HUD is paying electronically I can foresee that eventually I will be setting up electronic transfer options for tenants and seguing them into it.
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Old 12-23-2009, 11:29 AM
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I've been out of checks for probably 2-3 years.. Probably should
order some more, but I rarely ever use them any more.
I'm almost all debit card these days. I pay all my bills online.
But before the debit card, I used to be almost all cash. I've never
been much of a "credit card" user. I paid bills by check, which I hate
because then I have to go buy stamps, mail em, etc.. royal PIA...

Some worry about debit cards, ID theft, etc, and I suppose it can be
a problem. But it's never happened to me yet.. Bang on wood..
And if it does, supposedly the bank will cover any losses as long as
it's reported quick. To me, the debit card is like plastic cash.
I know one thing, I sure like being able to get gas without having to
go walk into the store, wait in line, and then pay cash.
I just swipe the card at the pump, gas up, and go..
At the grocery store, I usually use the automatic isle with no checker.
Ditto for home depot and some other stores.
I have had cases where I've had to double swipe, and got double
billed by accident. But it's no big deal. In most cases, it fixes itself
after about 3 days, and the 2nd charge vanishes. If not, the bank will
straighten it out if I call them.
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Old 12-23-2009, 11:31 AM
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Default I pay bills by check by mail.

Everything else is handled cash. I don't have a store loyalty card. What I spend my money on is my business. I know the whole idea of cash annoys the IRS as they can't track it with just a computer cross match program. I'd keep using cash even if it is somtimes inconvenient, just to bug the Infernal Revenue Sercive.
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Old 12-23-2009, 12:02 PM
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All of my bills get paid by check written from home. I never carry a checkbook. Use one credit card only (and pay it in full EVERY month), and use the debit card as little as possible. It is getting harder to get by without a debit card as many gas stations will not take a credit card. I do not pay my bills on line and do not permit automatic deductions from my credit card. A recent study showed that 70% of all identity theft victims paid their bills on line. Now that might just be a coincidence...and it might not. Call me Amish but I will keep writing checks and trying to figure out all of these damned extra button thingies on the computer. (o;
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Old 12-23-2009, 12:07 PM
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I happened to be in the local mall a few months ago, and my daughter wanted an item from a store called Spencer's gifts, so we got rung up and I went to write a check and the clerk told me they don't accept checks.


I said oh what do you accept, she said cash, credit or debit. I thanked her and left the store. She asked me if I still wanted the item I said no thank you I would go someplace that was more ammenable to the consumer.


Banks are pushing debit cards big time everytime I go into one.
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Old 12-23-2009, 12:12 PM
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Quote:
Originally Posted by ingmansinc View Post
The times they are a changin. Lead, follow, or get out of the way. Those wagon people movin across the land are killing all the buffalo. Where does it all stop. It doesn't, it is called progress. I remember when checks first came into use and you couldn't cash one out of town to save yourself. Cash was king. Now it is electronic banking and tomorrow will be something else. Figure out what it will be tomorrow and you can bump Bill Gates off his throne. Try to stop progress and it will crush you like a steam roller.

O so true isn't it?
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Old 12-23-2009, 12:17 PM
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I haven't written a check in at least five years.
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Old 12-23-2009, 12:35 PM
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Howdy,
I have had three debit cards electronicly stolen. Twice on vacation and once from a gun dealer who claimed all he had was ex-cops and FBI agents working for him when confronted.
I have taken to using a credit card and only use the debit card to get cash at the ATMS.
Also, there are gas stations around here that tack on an extra dollar per transaction for the debit card when you pay at the pump where it is against the law to do that on a credit card.
The level of protection is greater with a credit card over a debit card too.
That can be important when some yahoos run up a $2000.00 and up bill at the "YIN YANG CLUB" in Singapore on your debit card.
I do think all the problems will be overcome with time.
Now for the tin hatters, there is no better way to track a populace than to make cash obsolete and replace it with electronic transactions. Think about what all could be learned about someone who had no option but a card?
Thanks
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Last edited by mstuhr; 12-23-2009 at 09:02 PM.
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Old 12-23-2009, 12:39 PM
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Huh... I haven't written a check in over three years!
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Old 12-23-2009, 12:39 PM
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I used to use checks to pay all of our bills. In recent yearsI have gone to the electronic pay methods. Mostly because of the rise in stamps prices. I write a total of 5 checks per year, usually for taxes and insurance. The downside is that I tried to write a check at a local Super Store and got turned down.The reason was that I had not used my checks enough in the past three years to have history. I just paid cash and walked out.
Progress is a wonderful thing. I could use some of it.
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Old 12-23-2009, 01:00 PM
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Default Banks Charge The Merchant 1 1/2 %

The idea was to make it easy for us to spend money and easier to track. The processors started the debit card with only charging the merchant a swipe fee ( .45 ). Along the way, after a great percentage of people switched over to debit, it changed to a fee to the merchant of appx. 1 1/2 %. The wonderful rewards cards the give you 1 % back, also cost the merchant an extra 1 1/2% or more per transaction.
So, the ease of you not having to write a check is costing ALL that pay cash or write a check because the merchant will add it to the top. There is good and bad with every new improvement or the thing called progress.
Just wanted all to know why discounts are given for cash!!
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Old 12-23-2009, 02:45 PM
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I am a little dismayed with the statement that electronic banking is "progress".

For banks and the government and others who want to control us, it is. For the rest, I think not.

Nonetheless, it'll probably happen. Younger people are being conditioned to do everything with computers and debit cards, and from the way this nation voted in the last election, it is pretty clear that many today cannot think well. The banks, merchants, politicians, and bureaucrats will do their thinking for them. And the ID thieves will profit from them.

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Old 12-23-2009, 03:15 PM
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After having my debit/ATM card "cloned" twice I called my bank and had my accounts flagged that NO debit/ATM or on-line payments where allowed from my accounts and had them cancel my debit/ATM card. About a year later they sent me a new ATM/debit card. I called and asked why I received the new card. They said it was their policy to issue the card with all accounts. I asked that the cards be cancelled and was informed they would cancel the cards but I would have to start paying a $.75 per check processing fee and an $8.00 per month account service fee, as it is less costly for them to process an electronic transaction than a check. I finally got to talk with the Sr. VP of customer relations and told her to have a cashiers check ready for me as I was closing all of my accounts. They don't want to deal with their customer (me) on my terms over my money, I'll find someone that will, and I did.

Class III
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Old 12-23-2009, 03:44 PM
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After having my debit/ATM card "cloned" twice I called my bank and had my accounts flagged that NO debit/ATM or on-line payments where allowed from my accounts and had them cancel my debit/ATM card. About a year later they sent me a new ATM/debit card. I called and asked why I received the new card. They said it was their policy to issue the card with all accounts. I asked that the cards be cancelled and was informed they would cancel the cards but I would have to start paying a $.75 per check processing fee and an $8.00 per month account service fee, as it is less costly for them to process an electronic transaction than a check. I finally got to talk with the Sr. VP of customer relations and told her to have a cashiers check ready for me as I was closing all of my accounts. They don't want to deal with their customer (me) on my terms over my money, I'll find someone that will, and I did.

Class III

This is PRECISELY what more consumers need to do! Good on ya!

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Old 12-23-2009, 04:51 PM
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Default Checks

Try to prosecute a bad check writer and you might understand why many businesses have quit taking checks. Also, it's been my understanding that it's a federal law that it's ilegal not to accept legal tender (cash), but I don't know who cares or who you report it too. Paid my Doctor bill for $87.00 with a $100.00 bill after a discussion, and they had to give me change with a company check.
So much for progress!
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  #32  
Old 12-23-2009, 09:51 PM
therevjay therevjay is offline
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Debit cards are a sucker trick, your $ is gone instantly. Use a credit card, your $ draws intrest till you pay the card bill. (not much maybe, but some) Don't charge more then you can pay off when the bill comes and you pay no intrest.

If you can't pay off your credit card at the end of the month, you shouldn't have one. Go to your bank/credit union or even a loan co. and borrow the $ you need (much better intrest rate)

The only time I ever came across any place that would not take cash, was a resrurant in a airport. I said I had seen no notice of this before we ordered or ate. The waiter then pointed out the notice (in small print) on the menu.

When I opened my mouth, stuck my finger in, and offered to give back the dinner he decided cash would be OK.

Yes, I am a "cantankerous old fart".
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Old 12-24-2009, 02:27 PM
Super Trucker Super Trucker is offline
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I use a debit card when ever possible, I have probably wrote about 10 checks during 2009. I feel it is very easy to balance your account and knock on wood, I have not had any issues with ID theft or anything of that sort.

I pay most bills on line and no longer have to buy envelopes, stamps or checks very often. It saves money and time to do things electronically.
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Old 12-24-2009, 05:17 PM
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Quote:
Originally Posted by sigp220.45 View Post
I haven't written a check in at least five years.
Because you have a wife?
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Old 12-25-2009, 04:16 AM
gunnut2u gunnut2u is offline
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Quote:
Originally Posted by TLflag View Post
Paid my Doctor bill for $87.00 with a $100.00 bill after a discussion, and they had to give me change with a company check.
So much for progress!
Should of told them you don't take checks...LOL!

I use checks for all my bills .......
I'm still old fashion ...no direct deposit for me ...I like to get a piece of paper at the end of the week with my name and some numbers on it to take to the bank ...!
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Old 12-25-2009, 10:46 AM
Walter Rego Walter Rego is offline
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I write checks for my utility bills or credit card payments, that's about it. I refuse to bank electronically or pay bills electronically. My banking is free except for the cost of the checks. I have never used my debit card and only use my credit card for online transactions like from Amazon.com and other trusted merchants. Or, occasionally I'll use it for big-ticket items from merchants where I can get the points and extra warranty coverage but I pay the bill right away. I go to the ATM about once a week, get a few hundred in cash and that takes care of groceries, gas, lunches, etc. I figure keeping track of one ATM transaction is a whole lot easier than keeping track of multiple debit card transactions and the chance of fraud or identity theft is greatly reduced by my habits. I also can't stand the people in line in front of me holding things up with the "credit or debit sir ?" and then "oh, I'd like cash back" for a $5 purchase.
I think the idea of a cashless society is not a good one, I always feel better with at least $100 in my wallet at all times.
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Old 12-28-2009, 02:44 PM
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Default I Use Checks

I use checks to pay the monthly utilities and other recurring bills. I use a debit card only for ATM transactions, and I do not have, and have never had, a credit card. I do not conduct any financial affairs online.

I pay cash for small transactions, and use a check for larger transactions. I pay cash for my groceries, and if I use a "discount card," I use an anonymous one. Markets use those cards to track and sell their customers' purchase histories to commercial data mining companies (such as Catalina Marketing), which insurers, employers, and others buy.

Credit cards are even worse. The card companies gather and sell the cardholders' purchase data to large data mining companies like Acxiom and ChoicePoint, whose subscribers include marketers, insurance companies, the federal government, and law enforcement agencies.

When I am at my local gun store, I am surprised at how many people buying guns, ammo, and other items pay with their plastic. The card companies record and sell those purchase data along with all their other credit card transaction records. If the current administration decided that the time had come to track down firearms ownership or enact a registration scheme, it could easily purchase those credit card records. Although the purchase records do not reveal the individual items, it would be easy to figure out that someone who made frequent purchases at gun stores likely owned or has an interest in firearms.
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Old 12-28-2009, 02:47 PM
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I try to always use my Visa instead of cash, especially after that McDonald's girl took my $20 and gave me change back for a $5 and then lied about it. At least with the Visa there's a little more control because you can see the keypad and verify the amount, plus there's a bank behind you in case of discrepencies.
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Old 12-28-2009, 08:05 PM
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My bank puts scans of my checks online so that when I check my account and want to see what a check was for, I can click an icon and see the scan, front and back.

I have collected and kept cancelled checks for years, and now the photo copies the bank sends. I guess I do this because of concerns that the IRS may someday audit me, but have never had occasion to dig up a cancelled check.

I like the convenience of credit cards. I would like to see a service -- make it optional for those who worry about such things -- where for security purposes my credit card would be associated with my fingerprint, and could not be used without it. Heck, maybe my fingerprint itself ought to be my credit card. So if it's not me, my account get accessed.

Various government agencies already have my fingerprints so I don't worry about this the way some do. And I guess I don't really care if others know what I buy.

As for checks, I don't think they will dissapear. But I think they will dwindle in use. (In Japan, individuals don't use checks at all. Businesses use them occasionally. For utilities, direct debit to one's account is the common practice, although one can also pay these at convenience stores in cash. Credit cards are now popular, but I think debit cards do not exist. Cash is more popular than in the US.)
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Old 12-28-2009, 08:39 PM
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Hate credit cards. Only have one left, and I'd get rid of it tomorrrow if I could. You can't rent a car or buy a plane ticket without a credit card. Pay cash for everything. Never get a "bill" next month. No cards, no atm, and no headaches.
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Old 12-28-2009, 08:50 PM
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Originally Posted by OKFC05 View Post
An embedded chip may be the next step. Who knows?

Already here.

Credit card chips embedded into the human body - EMQ
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Old 12-28-2009, 09:46 PM
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Star, you are waking up kinda late into the the transition. I have not written a check in three years. I don't miss it one bit.

Out West
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Old 12-28-2009, 10:16 PM
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A few years back my wife suggested that she take over the checking accounts for awhile so that she would be able to learn what needs attending to if anything should happen to me.

About 6 months later she put everything on the computer, and now I couldn't wright one if I wanted to.

That was one of the nicest things she's ever done for me but I still tease her about it.
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Old 12-29-2009, 07:40 AM
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Quote:
Originally Posted by Onomea View Post
I like the convenience of credit cards. I would like to see a service -- make it optional for those who worry about such things -- where for security purposes my credit card would be associated with my fingerprint, and could not be used without it. Heck, maybe my fingerprint itself ought to be my credit card. So if it's not me, my account get accessed.
The Food Lion grocery store in Chesapeake VA allowed us to "pay by touch". They have a biometric scan next to the card scanner. When we signed up, they took several readings of the index finger and at checkout, all you had to do was place your finger on the reader.

And then wipe your finger off with antibacterial when you got to the car.

http://www.projectliberty.org/libert...se%20study.pdf

Last edited by BarbC; 12-29-2009 at 07:48 AM.
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Old 12-29-2009, 10:31 AM
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The Food Lion grocery store in Chesapeake VA allowed us to "pay by touch". They have a biometric scan next to the card scanner. When we signed up, they took several readings of the index finger and at checkout, all you had to do was place your finger on the reader.

And then wipe your finger off with antibacterial when you got to the car.

http://www.projectliberty.org/libert...se%20study.pdf

My fingerprints aren't worth that much. I have to pay cash or write a check.

I've read that Picasso could get a meal at some nice restaurant just for scribbling his initials on a napkin, which could be sold for his autograph.

I do have to offer a finger to print to cash a payroll check at one grocer. I put the finger on the reader, and it confirms that I'm me.

T-Star
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