I have been following the Check 21 initiative for about 6 months now and I think this is the beginning of the end for paper checks. I have mixed feelings on this. Even though there will always be people that will want to write a paper check, I suspect that banks will make check writing so unattractive with fees that most will want to switch to a debit card or electronic banking. Now if the US government would only stop companies from charging a fee to pay online, something like this might work...
Ready for Faster Check Cashing? Check 21... Oct. 26, 2004 -- Consumers who rely on the float period (the lag time between when a check is deposited and when the funds clear) to get by every month are soon going to find themselves out of luck. Starting Thursday, a federal law called Check Clearing for the 21st Century Act or Check 21, will allow banks to process checks without any lag time. Complete article... http://tinyurl.com/67q5u _________________________________________________ If you can't take the heat, don't tickle the dragon. _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
