[EMAIL PROTECTED] wrote:
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
Checks? What are those, is it edible?
It all started when one of our banks started giving away accounts. So everybody has at least one of those. And I don't think I know anybody who doesn't have at least one of those accounts. They are easy to get and basically free of charge, so that's good enough to make and recieve transfer payments. Once these accounts became popular checks slowly became extinct. Approximately two years ago banks unilaterally decided the consumers would be better off without them and I haven't seen a paper check ever since. Can't say I miss them. Considering that we don't even have the abillity to pay by credit card at supermarkets and such it's very amazing how we adapted. All the panic at the time has abided and the system works just fine without them.
Afterall it seems we are more adaptable then we gave ourselves credit for.
Sonja :o) GCU: Charge _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
