The banks are proclaiming that they have “saved cheques” and all is well with the world. This is one of the great cons of our time, in my opinion. Who is going to accept a cheque in a shop or garage etc with no guarantee of payment? The abolition of cheque guarantee through your card is effectively the end of cheques.
Where I live, we have garages that do not accept cheques, shops that don’t and now some companies are refusing to accept cheques even for payment of bills by post – a slow but previously useful way for many older people to maintain control of their own affairs.
Okay, so paying by direct debit may be more efficient, but not everyone is comfortable with the fact that this really means the company can draw money directly from your account – and variable amounts at that. I would mind a bit less if the banks were being more honest about the reality of “saving cheques”, but I really object to them giving with one hand and taking with the other.
Let me know your thoughts.
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Banks are doing what they can to save money by not having to print cheques although I guess its great for the environment too! I think direct debits are safe enough with larger companies and easier to manage. My mum has had her savings book taken away and replaced with a card – she’s going blind and can hardly see the buttons on a till to withdraw money. I think banks need to think about our older community more and less about their extra millions.
I have noticed that the credit card companies now have stopped putting a free addressed envelope in with their paper bill to discourage you from paying by cheque. They also try and force you to have paperless bills and do everything online. I do a lot of online banking so its relatively easy for me but for others it wouldn’t be. Its these small little things that are chipping away at the cheque.