Funds Insider - Opening the door to funds

Welcome to the Citywire Funds Insider Forums, where members share investment ideas and discuss everything to do with their money.

You'll need to log in or set up an account to start new discussions or reply to existing ones. See you inside!

Notification

Icon
Error
Do you ever use your chequebook?
+ Reply to discussion
Options
BouncingCzech
Posted: 08 November 2010 09:30:10(UTC)
#81

Joined: 24/09/2010(UTC)
Posts: 11
Mike V said: ..... everyone has to have their sort codes and account numbers on their letter headings or whatever (and how secure is that?)

Well every European company I know does precisely this.

Your account number and sort code is printed on the bottom of the cheque - it's not a secret - so whether you choose to let someone know your account number via your letterhead or via your cheque it makes little difference.

I'm sorry you think I'm a fraud, but my forum name should have given you a clue as to my origin. Remember it's always good to count to 10 before pressing the send button on an email. Apoplexy is a dangerous condition!

I do take the point about deaf people having problems with telephone banking systems. It would probably be more sensible to find a modern solution to this problem - perhaps via a text-based display on the phone
Back to top Quote
BouncingCzech
Posted: 08 November 2010 09:39:00(UTC)
#82

Joined: 24/09/2010(UTC)
Posts: 11
In fact when you write a cheque you let someone know your account number, sort code, account title and authorised signature. They almost certainly know your address - so how secure is that.?

In Czecho your authorised signature is known only to the bank.
Back to top Quote
Guest
Posted: 08 November 2010 10:31:30(UTC)
#83

Joined: 21/06/2010(UTC)
Posts: 557
Cheques have so many uses and must be kept.
Back to top Quote
Simple Simon
Posted: 08 November 2010 13:25:25(UTC)
#84

Joined: 06/10/2006(UTC)
Posts: 3
Almost never write a cheque - why should I, when I can get 1% cashback + short term credit from a card that automatically debits my current account each month. It's a no-brainer! Or I pay by BACS on the internet. Or I pay cash.
Back to top Quote
clive rowland
Posted: 08 November 2010 13:38:03(UTC)
#85

Joined: 02/09/2010(UTC)
Posts: 1
WE T HE CHEQUE LOVING MINORITY SHOULD NOT LET THE 'LITTLE HITLERS' OF THE BANKING WORLD RUN ROUGHSHOD OVER US .

SO LETS ALL PUT OUR MONEY WHERE OUR MOUTHS ARE AND SUPPORT THIS WELL MEANING LIB-DEM MP.
Back to top Quote
Dennis .
Posted: 08 November 2010 13:57:26(UTC)
#86

Joined: 26/12/2007(UTC)
Posts: 1,018
Simple Simon,
There are a number of situations (mostly described above) where there is no substitute for a cheque. We all use credit cards and cash when we can. The discussion here is about how to handle that small number of situations where a cheque is the only way.

eg I have a 91 year old relative who can't use the internet because she can't hold a mouse still long enough due to Parkinson's Disease and has difficulty with ATMs as there aren't any within walking distance of her home so even cash is a problem. She can still scribble her name on a cheque and get a tradesman or (trusted) neighbour to fill in the amount in her presence. Any suggestions that would help her?
Back to top Quote
Christopher Greaves
Posted: 08 November 2010 16:50:23(UTC)
#87

Joined: 10/09/2009(UTC)
Posts: 1
As a one man tradesman and a holiday let cottage owner I bank lot of cheques, but not enough to warrant getting a mobile terminal. I fit wooden floors and payments are for between £600 and £3000. Too much to expect cash. The cottage customers could pay by bank trasfer as they are all online but keeping track of who has paid would be difficult.
If my bank allowed me to take card payments on paper, like the old plating machines, that would be fine, I could also take payments from foreign customers which, at the moment, sends the banking system into a flat spin!
Back to top Quote
Dennis .
Posted: 08 November 2010 17:21:40(UTC)
#88

Joined: 26/12/2007(UTC)
Posts: 1,018
Christopher Greaves
I don't know if you are aware but when you start a credit card account as a merchant they send you one of those swipe machines as a matter of course complete with the embossed plate with your account number. The rationale is that if you have a power cut then you can still do business. You then copy the information from the paper record into your terminal (as customer not present - but you do have a signature) when the power comes on. If you do this you should also take the customers house number and postcode to give you extra protection. In theory you can take the swiped forms into your bank but I believe the charges are quite high if you do it that way.
Back to top Quote
Long Gone Expat
Posted: 09 November 2010 11:26:01(UTC)
#89

Joined: 09/06/2010(UTC)
Posts: 31
I also use cheques on a regular basis. I' be very upset to see them go too and believe life would get quite complicated without them
Back to top Quote
Mike V
Posted: 15 November 2010 21:52:53(UTC)
#90

Joined: 07/07/2008(UTC)
Posts: 17
Oh Dear B Czech, the banality of this verges on crassness. There is a difference between me providing someone I owe money to with my bank details and my demanding his bank details in order to pay him. I currently have a choice to provide those details (or not to a trusted 3rd party I have entered into an agreement with. That is freedom of choice and long may that freedom pertain.
'He' may or may not wish to provide me with those details. For me to be forced by banks to have to insist on him providing that information is not a change that the vast majority want - judging by this 'postbag' . If 'he' wants a cheque (as is still v often the case) then why should he not have one?
Back to top Quote
10 Pages«Previous page78910Next page
+ Reply to discussion

Markets

Other markets