Using Cheques

[crankedup]

Du1point8 said:

crankedup said:

So the banks want to do away with cheques because retaining them is not worth their investment - what a surprise. Wonder if the coalition may step in to stop banks steam rollering this slice of old age money transfer.

Its not a right... its the banks own decision to stop using them, if its losing them money why should they carry on to appease you?

Are you incapable of using any of the other transfer services that they offer?

Remember that accounts in the UK are free and that is a great privilege that is not afforded in many countries, how about if you want a cheque book they stick a £5 a month cost on that for the choice to have one after all it is a choice and therefore its up to them to decide what to do.

Did you also protest when analogue TV sign was turned off as age old way of entertainment the masses?

Things change and people need to adapt hence now you can almost survive cashless, I only have it for the corner shop as everyone else takes card.

TBH I can live without my use of cheques, but its just another example of banks removing THE SERVICE element from the business, The banks have wanted to do away with the use of cheques for years I know, but the use of this old fashioned payment devise is still quite popular it seems. Like any service in the end, shop around for the deal that suits best, such a shame the banks continue to get themselves ripped off in the electronic money transfer system.

[Eric Mc]

Mojooo said:

Cheques have been on the way out for years

When I worked in a large supermarket about 5 years ago, over the period I was there (about 6 years) the amount of cheques/cash decreased whilst the numbers of card useage rose.

Plumbers and the like will have to take cash or carry mobile card readers around. or some other new technology.

Cheques are messy to handle for many and its no suprise big retailers ahve started refusing to accept them.

This issue is not about the big retailers. It's about small businesses, clubs, societies, charities and individuals. These are the entities who still use cheques.
Is everything we do in society dictated to by how big organisations (government, banks, large retailers) etc want to maximise their profits or cut their costs?

[Scraggles]

so looks like it is cash in hand for all the traders that I need to use, very much suspect they will forget to put it on the books

right pain in the bum to send cash in the post and not like to do that

how to send cash for membership of clubs, used to use direct debit until the bank fked up and then refused the club the ability to use dd

[Kermit power]

crankedup said:

TBH I can live without my use of cheques, but its just another example of banks removing THE SERVICE element from the business,

Possibly so, but it's not half as annoying as the poor service offered by traders or businesses who refuse to take card payments!

Back in 1990, 11 million cheques were written out every day in the UK. Today that figure is closer to 3 million.

Of course, small business groups and other champions of the cheque point to the 3 million figure and say "look! Lots of people still write cheques regularly, so we have to keep them!"

I would be fascinated to know what proportion of those 3 million cheques are written only because of pain in the backside businesses refusing to accept card payments?

[Blue Cat]

Kermit power said:

crankedup said:

TBH I can live without my use of cheques, but its just another example of banks removing THE SERVICE element from the business,

Possibly so, but it's not half as annoying as the poor service offered by traders or businesses who refuse to take card payments!

Back in 1990, 11 million cheques were written out every day in the UK. Today that figure is closer to 3 million.

Of course, small business groups and other champions of the cheque point to the 3 million figure and say "look! Lots of people still write cheques regularly, so we have to keep them!"

I would be fascinated to know what proportion of those 3 million cheques are written only because of pain in the backside businesses refusing to accept card payments?

The thing is, it's not actually that simple for traders and small businesses to take card payment. The charges can be very high and can have some quite difficult conditions to work with. A cheque may cost £1.50 to process through a business bank account, to do card payments you have to pay a percentage of all money you take in, plus a monthly fee to have the terminal to run the service.

Many small businesses would love to take card payments, it would make their lives a lot easier, but the costs of doing so and other associated problems just means it not worth it.

[Kermit power]

Blue Cat said:

Kermit power said:

crankedup said:

TBH I can live without my use of cheques, but its just another example of banks removing THE SERVICE element from the business,

Possibly so, but it's not half as annoying as the poor service offered by traders or businesses who refuse to take card payments!

Back in 1990, 11 million cheques were written out every day in the UK. Today that figure is closer to 3 million.

Of course, small business groups and other champions of the cheque point to the 3 million figure and say "look! Lots of people still write cheques regularly, so we have to keep them!"

I would be fascinated to know what proportion of those 3 million cheques are written only because of pain in the backside businesses refusing to accept card payments?

The thing is, it's not actually that simple for traders and small businesses to take card payment. The charges can be very high and can have some quite difficult conditions to work with. A cheque may cost £1.50 to process through a business bank account, to do card payments you have to pay a percentage of all money you take in, plus a monthly fee to have the terminal to run the service.

Many small businesses would love to take card payments, it would make their lives a lot easier, but the costs of doing so and other associated problems just means it not worth it.

If they can't justify having all the infrastructure, why not just use Paypal? Having to pay by cheque means I'll only buy from a business if I can't find an alternative.

[Eric Mc]

The rush to having ONLY electronic transfers is wrong headed and a fraudsters charter - in my opinion.

Watch national economies collapse as more and more business goes into a cash based black economy.

[Kermit power]

Eric Mc said:

The rush to having ONLY electronic transfers is wrong headed and a fraudsters charter - in my opinion.

Watch national economies collapse as more and more business goes into a cash based black economy.

Who is saying there will only be electronic transfers? Nobody is doing away with cash, or cards for that matter.

[Blue Cat]

Kermit power said:

Blue Cat said:

Kermit power said:

crankedup said:

TBH I can live without my use of cheques, but its just another example of banks removing THE SERVICE element from the business,

Possibly so, but it's not half as annoying as the poor service offered by traders or businesses who refuse to take card payments!

Back in 1990, 11 million cheques were written out every day in the UK. Today that figure is closer to 3 million.

Of course, small business groups and other champions of the cheque point to the 3 million figure and say "look! Lots of people still write cheques regularly, so we have to keep them!"

I would be fascinated to know what proportion of those 3 million cheques are written only because of pain in the backside businesses refusing to accept card payments?

The thing is, it's not actually that simple for traders and small businesses to take card payment. The charges can be very high and can have some quite difficult conditions to work with. A cheque may cost £1.50 to process through a business bank account, to do card payments you have to pay a percentage of all money you take in, plus a monthly fee to have the terminal to run the service.

Many small businesses would love to take card payments, it would make their lives a lot easier, but the costs of doing so and other associated problems just means it not worth it.

If they can't justify having all the infrastructure, why not just use Paypal? Having to pay by cheque means I'll only buy from a business if I can't find an alternative.

With paypal is only free if you are a private individual, if you are a business they will charge you around 6% to 8% on each transactions plus there is a limit to how much you can put through and also they are very quick to take back money if there is a problem.

Small Businesses in today's marketplace don't take cards just to be awkward, it's a judgement call. With a cheque, once it's clears the money is yours, with a card payment the bank keep control over that money for quite a long time

[Kermit power]

Blue Cat said:

Kermit power said:

Blue Cat said:

Kermit power said:

crankedup said:

TBH I can live without my use of cheques, but its just another example of banks removing THE SERVICE element from the business,

Possibly so, but it's not half as annoying as the poor service offered by traders or businesses who refuse to take card payments!

Back in 1990, 11 million cheques were written out every day in the UK. Today that figure is closer to 3 million.

Of course, small business groups and other champions of the cheque point to the 3 million figure and say "look! Lots of people still write cheques regularly, so we have to keep them!"

I would be fascinated to know what proportion of those 3 million cheques are written only because of pain in the backside businesses refusing to accept card payments?

The thing is, it's not actually that simple for traders and small businesses to take card payment. The charges can be very high and can have some quite difficult conditions to work with. A cheque may cost £1.50 to process through a business bank account, to do card payments you have to pay a percentage of all money you take in, plus a monthly fee to have the terminal to run the service.

Many small businesses would love to take card payments, it would make their lives a lot easier, but the costs of doing so and other associated problems just means it not worth it.

If they can't justify having all the infrastructure, why not just use Paypal? Having to pay by cheque means I'll only buy from a business if I can't find an alternative.

With paypal is only free if you are a private individual, if you are a business they will charge you around 6% to 8% on each transactions plus there is a limit to how much you can put through and also they are very quick to take back money if there is a problem.

Small Businesses in today's marketplace don't take cards just to be awkward, it's a judgement call. With a cheque, once it's clears the money is yours, with a card payment the bank keep control over that money for quite a long time

All of which is just one cost of business amongst many, and something to factor into your pricing. Would you rather get 94% of the value of what I buy from you on a credit card, or 100% of nothing because you wouldn't take a card and one of your competitors will?

[Eric Mc]

When its all cash - then the banks will try and abolish cash.

Why on earth would anyone want to support a btright idea by the banks? From what I can see, our present sorry state of affirs is absolutely down to poor judgement, self centered interests and downright profiteering by unscrupulous banks.

If a bank says something is good - think the exact opposite. What they mean is "good for them".

[Blue Cat]

Kermit power said:

Blue Cat said:

Kermit power said:

Blue Cat said:

Kermit power said:

crankedup said:

TBH I can live without my use of cheques, but its just another example of banks removing THE SERVICE element from the business,

Possibly so, but it's not half as annoying as the poor service offered by traders or businesses who refuse to take card payments!

Back in 1990, 11 million cheques were written out every day in the UK. Today that figure is closer to 3 million.

Of course, small business groups and other champions of the cheque point to the 3 million figure and say "look! Lots of people still write cheques regularly, so we have to keep them!"

I would be fascinated to know what proportion of those 3 million cheques are written only because of pain in the backside businesses refusing to accept card payments?

The thing is, it's not actually that simple for traders and small businesses to take card payment. The charges can be very high and can have some quite difficult conditions to work with. A cheque may cost £1.50 to process through a business bank account, to do card payments you have to pay a percentage of all money you take in, plus a monthly fee to have the terminal to run the service.

Many small businesses would love to take card payments, it would make their lives a lot easier, but the costs of doing so and other associated problems just means it not worth it.

If they can't justify having all the infrastructure, why not just use Paypal? Having to pay by cheque means I'll only buy from a business if I can't find an alternative.

With paypal is only free if you are a private individual, if you are a business they will charge you around 6% to 8% on each transactions plus there is a limit to how much you can put through and also they are very quick to take back money if there is a problem.

Small Businesses in today's marketplace don't take cards just to be awkward, it's a judgement call. With a cheque, once it's clears the money is yours, with a card payment the bank keep control over that money for quite a long time

All of which is just one cost of business amongst many, and something to factor into your pricing. Would you rather get 94% of the value of what I buy from you on a credit card, or 100% of nothing because you wouldn't take a card and one of your competitors will?

Like I said, it's a judgement call, depending on your business you might have to wait 30 days before the card provider will release your money, you could have a difficult customer who tells the card provider that your goods were "wrong" and demands a refund which you have very little control over. If say 2% of your customers chose not to use you because you don't take cards, it might work out cheaper to lose them then to actually take card payments.

My business does take card payments so I know from experience what a pain in the neck it is and if another company will only take cheques I have no problem dealing with them if they are the best for what I want because I fully understand why they have decided to take that choice.