Cheque use

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Gordy7

gordy7
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#88697 21-Aug-2011 11:13

From our NZ Herald:

The decline of cheque use is increasing exponentially

Need I say any more?

Cheers

Gordy

My first ever AM radio network connection was with a 1MHz AM crystal(OA91) radio receiver.

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#509561 21-Aug-2011 11:24

So what is your point apart from drawing attention to the existence of a newspaper article that states the obvious?

heavenlywild

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#509563 21-Aug-2011 11:37

I think it's a slow news day.

DjShadow

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#509571 21-Aug-2011 11:57

Problem is there is still an older Generation of NZ'ers who will keep using cheques till the day they die, they don't want anything to do with eftpos/atm's as they would consider it too complicated

Gordy7

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#509574 21-Aug-2011 12:08

How can you have a decline increasing?

Gordy

My first ever AM radio network connection was with a 1MHz AM crystal(OA91) radio receiver.

traderstu

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#509584 21-Aug-2011 13:08

presumbly when it is not static or decreasing

wellygary

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#509585 21-Aug-2011 13:10

DjShadow: Problem is there is still an older Generation of NZ'ers who will keep using cheques till the day they die, they don't want anything to do with eftpos/atm's as they would consider it too complicated

While atm's and eftpos have had an impact, the real killer of cheques is internet banking, instead of writing a piece of paper that is given to your bank to transfer the funds, you do it online...

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blakamin

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#509590 21-Aug-2011 13:36

Funny that I got a cheque in the mail yesterday... Would've been a million times easier for everyone just to do internet banking, or not bother sending the money at all.

jjnz1

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#509591 21-Aug-2011 13:43

I hate cheques, the clearance times are a killer! Internet banking all the way, overnight processing, yay! ;)

richms

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#509593 21-Aug-2011 13:50

I posted NZ post a check for my half of the PO Box rental since they are the only company that still insists on posting the bill to me. Thats my only check that I have used from the book in the last year and a half

Not presented yet either, Im guessing they managed to lose their own mail ;)

Richard rich.ms

keewee01

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#509594 21-Aug-2011 13:54

In this cashless society we had to use cheques for ages for anything relating to our son's school, but they finally a) got eftpos and b). gave out their bank account number willingly.

Still a number of small business around who don't get it - have to pay the chimney sweep by cheque last month.

jjnz1

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#509596 21-Aug-2011 14:04

keewee01: In this cashless society we had to use cheques for ages for anything relating to our son's school, but they finally a) got eftpos and b). gave out their bank account number willingly.

Still a number of small business around who don't get it - have to pay the chimney sweep by cheque last month.

I have a company cheque book, it's about 3 years old and has only had a few cheques taken out of it.

I think we need to band together and tell the people/companies asking for cheques as payment, that we don't have them and would internet banking do..?

For the last year, this is what I have done, and for the most, people know I don't do cheques, so therefore don't ask for one.

I'm sure the chimney sweep would still get his payment somehow if you said I don't do cheques.

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Phexx

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#509633 21-Aug-2011 16:33

Cheques never seem to be used in my family. I used to get cash from relatives in the UK, but it got stolen in the post so we have used cheques ever since. It seem like cheques seem to take so long compared to internet banking or cash.

bazzer

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#509827 22-Aug-2011 10:22

Gordy7:
How can you have a decline increasing?

When both the first and second derivatives are negative. I think (it's been a while).

John2010

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#509845 22-Aug-2011 10:42

DjShadow: Problem is there is still an older Generation of NZ'ers who will keep using cheques till the day they die, they don't want anything to do with eftpos/atm's as they would consider it too complicated

Dunno if your generalisation and those of others inferrring cheques are dead is quite correct.

For our own case we have many examples where certainly with our bank it is much quicker and easier to just write a cheque and hand it over rather than go through the security rigmarole of the bank for other than smaller internet transactions. For example, stumping up 80k buying a new car, and even smaller amounts such as 20-30k over the trade for a new car, and even little amounts such as 3k for six monthly marina berth lease payment have to get a temporary clearance which expires after 4 weeks.

How do you do that with your bank?

keewee01

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#509865 22-Aug-2011 11:29

John2010:
DjShadow: Problem is there is still an older Generation of NZ'ers who will keep using cheques till the day they die, they don't want anything to do with eftpos/atm's as they would consider it too complicated

Dunno if your generalisation and those of others inferrring cheques are dead is quite correct.

For our own case we have many examples where certainly with our bank it is much quicker and easier to just write a cheque and hand it over rather than go through the security rigmarole of the bank for other than smaller internet transactions. For example, stumping up 80k buying a new car, and even smaller amounts such as 20-30k over the trade for a new car, and even little amounts such as 3k for six monthly marina berth lease payment have to get a temporary clearance which expires after 4 weeks.

How do you do that with your bank?

Isn't it funny how what is probably the most insecure form of money transfer (the humble cheque) ends up being the most trusted - especially for larger amounts!

We all know that banks will happily ignore almost anything written on a cheque - they certainly don't bother about the dates on them and will cash them early (or even well after their own dates rules for presentation of cheques have passed) ; they'll happily ignore 'Not transferable' and 'Account Payee Only' scrawled all over them. What's the point - might as well make every cheque out to 'cash'!

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