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Peope who pay by cheque
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16-01-2014 2:49pm#1
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blackwhite wrote: »From 19th September this year cheques will no longer be accepted by any State agencies or bodies.
http://www.independent.ie/business/irish/cheques-consigned-to-history-books-as-state-looks-to-future-29616887.html
The Government have also written out to most large businesses in Ireland asking them to support this phase-out.
The National Payments Plan includes moving the country away from cheques, so I would expect the Government to increase the stamp duty on cheques (currently 50c per cheque) in the near future, to try and make them less and less attractive for people to use.
I'd expect cheque use to die off dramatically in the next year or two.
Well, that settles it then. I'm off to set fire to my cheque-book. It's not like the Government ever jumps into anything with two club-feet and makes a ringing horlicks of it.
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Typical for some clown with no experience of the real world to do that right enough.
They'll soon be a barcode/chip on our forearm.Well, that settles it then. I'm off to set fire to my cheque-book. It's not like the Government ever jumps into anything with two club-feet and makes a ringing horlicks of it.
Supposedly it could save the economy "up to" €1bn per year. :rolleyes:
Any time I see the words "up to" referring to Government savings I know that the reality will be, at best, around a quarter of that.
That said, as a former treasury manager in a large plc I can see the benefits of trying to do away with cheques as much as possible. They are a ridiculously inefficient way of moving money, and result in additional costs for both the person/company making the payment and for the person/company receiving the payment. I can certainly see why the Government wants to stop making payments by cheque and to stop receiving cheques (makes for much more efficient cash management).
That said, for small businesses, and for tradesmen and farmers in particular, cheques are extremely useful, and should be supported in so far as possible.
The 50c per cheque stamp duty on cheques is already too high, especially when you consider that the banks are charging between 20 and 50c per cheque handling fees.
The bank handling fees I can understand, cheques are costly to process for a bank. The stamp duty is a joke, cheques between two members of the public don't cost the state a thing!0 -
You don't need them that often, but Cheques can often be a great tactical way to pay tradesmen / delivery men / certain types of people etc. as they are also a form of receipt, and many of them avoid receipts / give excuses and pretend to avoid / genuinely avoid technology. It can sometimes cut all that guff out. Cheques can also be canceled before they are cashed, which is also handy when someone might be acting the maggot. I only use them once or twice a year when needed, but I wouldn't like to see them being done away with, but no doubt they will be soon.
that makes sense I suppose, but why deal with a dodgy tradesman in the first place, most will surely sign a contract now won't they?
They'll soon be a barcode/chip on our forearm.
That'd be handy...sorry....but yea, nobody could exactly steal it without looking pretty suspicious. I can use my phone where I'm living like a visa/debit card, it just scans over a machine and the purchases are paid for.0 -
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lol, now that's real world experience talking
Hell yeah. In furtherance, I predict that the Gummint will award the contract for giving everyone an IBAN thingy to Denis O'Brien. He'll put in the first few thousand backwards, and have to rip them out again at enormous expense. If people don't use them enough they'll simply up the per-payment duty until the target revenue (pulled out of Michael Noonan's arse) is reached. Quod erat demonstrandum! :cool:0 -
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Hell yeah. In furtherance, I predict that the Gummint will award the contract for giving everyone an IBAN thingy to Denis O'Brien. He'll put in the first few thousand backwards, and have to rip them out again at enormous expense. If people don't use them enough they'll simply up the per-payment duty until the target revenue (pulled out of Michael Noonan's arse) is reached. Quod erat demonstrandum! :cool:
It's ok the consultants will only charge €50 million, which works out about €25 per household apparently.
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I use electronic banking all the time.
Ever tried paying a builder, tradesman, farmer, etc. with electronic banking, or ever tried getting a receipt off them ? Good luck with that. A cheque does have it's uses in certain situations. I don't need them very often, but doing away with them is short sighted to say the least.
My father is a tradesman. He deals nearly exclusively through electronic banking these days. Record of everything is there on your bank statement, so if you misplace a receipt you still have the record. Some of the others that he deals with were surprised at first, but he simply explained the annual saving (we worked it out to be approx. €1,500) and most were happy to move to electronic.
I do his accounts for him every year (and still haven't been paid once, electonically or by cheque
), and he's down to writing less that 10 cheques per year, and receiving a similar amount.
I'm not arguing that a cheque doesn't have uses in certain situations - but it remains an archaic, and expensive, way of moving money. Not at least trying to move to better methods doesn't make any sense.0 -
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A man argued with me in work yesterday for 15 minutes when I told him we haven't accepted cheques in about 3 years. he swore blind that he paid by cheque under 12 months ago. (not possible, the man was delusional) eventually he paid by card. Kept telling me he was going to prove me wrong and that ill be apologising to him.
Grant. me. patience. Please
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I had to pay my rent to my landlord in Canada by cheque. She wouldn't even entertain the idea of an EFT. I was 27 when I first used one. Because I'd never used cheques before I had to have a brief word with my mother about what to do with it
I guess older people in Ireland would still like to use cheques because that's what they're used to. My uncle is in his 70s and still uses them. He has a visa debit card but he's a bit suspicious of it for some reason. Leave him off if he's happy using them I suppose.0 -
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JohnMearsheimer wrote: »I had to pay my rent to my landlord in Canada by cheque. She wouldn't even entertain the idea of an EFT. I was 27 when I first used one. Because I'd never used cheques before I had to have a brief word with my mother about what to do with it
I guess older people in Ireland would still like to use cheques because that's what they're used to. My uncle is in his 70s and still uses them. He has a visa debit card but he's a bit suspicious of it for some reason. Leave him off if he's happy using them I suppose.
Tax avoidance ploy on the part of your Canadian landlord. The EFT provides a steady e-trail of what's going into her account each month from you. The cheque on the contrary can be taken to your bank and cashed and this cash can be used for her monthly outgoings...groceries, petrol, clothes, eating in restaurant, movies whatever, while her regular salary gets deposited into her account, apres tax and isn't touched.
But you should always ask for a receipt with signature from your landlord when you hand over the cheque/cash. Best way to threaten her with a tax audit if she dicks you around over your security deposit.0 -
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