On Wed, 22 Oct 2014 07:11:56 -0300,
lucreti...@fl.it wrote:
>On Tue, 21 Oct 2014 15:58:51 -1000, dsi1
><ds...@eternal-september.invalid> wrote:
>
>>On 10/21/2014 3:23 PM, Ed Pawlowski wrote:
>>> On 10/21/2014 3:29 PM, dsi1 wrote:
>>>
>>>>> Supermarkets in the UK no longer accept cheques, haven't done for
>>>>> years.
>>>>>
>>>>> Janet UK
>>>>>
>>>>
>>>> That's pretty radical. I don't know of any places here that will refuse
>>>> a check. Personally, I prefer people to pay me with checks cause I get
>>>> more money. OTOH, my guts tighten up just a little when I see a batty
>>>> old lady in the checkout line in front of me pull out her checkbook and
>>>> starts fumbling for a pen. They always seem to be carrying an umbrella.
>>>>
>>>
>>>
>>> I recall reading about that a couple of years ago. Evidently, it is
>>> working. Processing checks is expensive compared to EFT.
>>
>>I'm fairly certain that moving actual paper around is considered a
>>problem for banks. I knew a guy that worked for a check processing
>>service. His shift was early evening to late at night. Near as I can
>>figure, they verified the bank's accounting and sorted and archived the
>>paper.
>>
>>Banks probably like EFTs because it's cheaper and faster to process and
>>they get to charge merchants for the service. They get to have their
>>cake and gorge their fat faces in it too. They also make the merchants
>>wait for their piece of the cake. I don't see any money from my charge
>>sales for 3 or 4 days. God know what the hell the banks are doing with
>>all that free money. Damn their eyes!
>
>
>I think that's pretty much correct. With our condo fees about ten
>years ago we decided it was too expensive to move away from monthly
>cheques to auto debits. Then a couple of years ago the bank
>approached us to switch, no extra costs !
>
>What do they do with all the profits ?? Pay the CEOs grotesque
>salaries and bonusses (sp) and service the shareholders :)
I don't remember having to pay for writing checks. Maybe I did when
we were first married 50+ years ago. We have direct deposit for our
regular incoming money. The bank makes at least 98% of our payments
at no charge. And I don't spend money on envelopes and stamps every
month. I just checked the price of first class mail stamps right now
-- $.49 each. So I save $3.43 per month or $41.16 per year. We are
also using the "Forever" stamps we bought at least 5 years ago.
I don't know what the bank is doing with the money they earn. They
certainly are not paying depositors much in the way of interest but I
noticed that Wells Fargo recently increased their dividend.
--
Susan N.
"Moral indignation is in most cases two percent moral,
48 percent indignation, and 50 percent envy."
Vittorio De Sica, Italian movie director (1901-1974)