Killing the chequebook

Just reading:

The chequebook could be a thing of the past
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Is something I believe should've happened years ago!

As one who worked in in ABSA's cheque fraud division - I could and cannot fathom how people and businesses still rely on cheques.

One would think that internet banking would've sent Cheque books to the shredder, but alas, they're still around.

Electronic banking FTW!
Now if only we didn't have to pay through our arses for it!:rolleyes:

This new idea will take some convincing and helluva lot of marketing to take off.
With the amount of cheques still out there, it's going to take alot of work to move people away from their ritual of signing a piece of paper to trusting software on a cellphone - even the niche/higher end segment of the market.
 
Chip & PIN will replace the chequebook, and cash as well, hopefully.
 
i doubt the banks would b too happy with that. im sure the whole 7-day cheque clearing scam, which allows them 2 take money on the 1 side and make it available 7 days later to the other side does wonders for their treasuries. what on earth is that money doing in those 7 days? free financing to the bank methinx :eek:
 
Chequebook? What's that? :D Seriously, I really can't remember when last any cheques were issued by anyone in our household.
 
*yawn*

old news - we can send money with wizzit to each other...

haven't got any chequebooks or credit cards, only debit cards :D
 
still got some chequebooks somewhere... haven't used them in years. Am I still paying any hidden charges even though I don't use them? Nedbank?
 
I will only be able to get rid of my chequebook when the municipality allows me to pay my yearly vehicle license electronically. I have a chequebook (the same one for lots of years now) and I am only writing 3 cheques a year, all of them to Tshwane.
 
Damn!? Who uses a chequebook? I've had my last one since 2002 and its still half full. I somehow feel that using a mobile platform is going to be rather pointless.

Whats the big deal with carrying a credit card around? The infrastructure is also already in place. Chip and pin is definitely the way to go. Look at Japan.

You need to remember a lot of older people can't be arsd about this sort of stuff either.

To me it feels like they're trying to re-invent a moneymaking wheel. Time will tell, but I'm happy with my chipped card.
 
I was so excited as a kid, everybody at my church was going on bout how credit cards and stuff will grow obsolete, and how we are ll going to be chipped and it'll be the devils work...but sadly the freaken devil or who the **** ever just never passed by and did that..but oh well suppose cellphone shena****ns could be second best..dammit
 
Rather use a USSD menu

Many phones will have problems with this app. Better to use USSD menu structure. I will load it forget and about it and never use it again.
 
I don't even like internet banking the way it is (ABSA, at least). Such a las just to log in and do a simple transaction. It's all so f*cking complicated and cryptic.

As for chip and pin, it's already been proven to be 100% crackable despite the bank's 'impossible to hack' claims. Apart for a handfull of countries, magstripe cards are still going to be the standard for many years to come. The US doesn't even have any plans to impliment chip and pin.

And don't even get me started on cellphone banking... :eek:
 
I love cheque books. So convenient and far cheaper than Internet banking as my cheques are mostly free. Only problem is that more and more places are refusing them. Writing a check is a esoteric experience, you feel the pain every time, :D
 
I suspect Ive used less than 15 cheques in the 8 years I have been working. I should actually just burn those fsckers
 
Hosehead said:
I love cheque books. So convenient and far cheaper than Internet banking as my cheques are mostly free. Only problem is that more and more places are refusing them. Writing a check is a esoteric experience, you feel the pain every time, :D
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And I really feel that because of it, most people do not want to move away from it.

Now I'm not sterotyping yourself with the following statement, but most cheque account holders, eerily do like the experience of signing a cheque.
Cheque books were status symbols for students or new working class people and walking up to a counter, whipping out that cheque and then signing it off, was as you say, an esoteric experience.

I've never had a cheque book and thankfully not, the risks associated with them are too great.

As for this new innovation - as someone mentioned earlier - cellphone banking :eek:

Privacy of my own home and secure internet banking is all that will do for me thanks ;)
 
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Not to sure how the risk is handled on this App. If you do a SIM swop, e.g. your SIM get's stolen you have to get a new one. Look at the terms and conditions...how on earth are they going to enforce that?

1. Should your cellphone number change, a third party may not register your previous cellphone number with us for a period of 28 days following your registration of your new cellphone number with us.
 
lpvoid said:
Damn!? Who uses a chequebook? I've had my last one since 2002 and its still half full. I somehow feel that using a mobile platform is going to be rather pointless.

Whats the big deal with carrying a credit card around? The infrastructure is also already in place. Chip and pin is definitely the way to go. Look at Japan.

You need to remember a lot of older people can't be arsd about this sort of stuff either.

To me it feels like they're trying to re-invent a moneymaking wheel. Time will tell, but I'm happy with my chipped card.
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Not everyone accepts credit cards - and they get hit with heavy fees if they do.

I use cheques to pay for physio (they'd prefer a cheque to EFT, since they can get proof of payment while I'm still there; and I prefer it to carrying cash).

I also send cheques for my car and bike licences every year, since it's easier to post off a cheque than go there and stand in a queue and pay cash.
 
I agree, I also write a cheque from time to time...and haven't had any problems with it so far... I do however know some people who've forgotten their pin, and were stuck without any cash...
 
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