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Author Topic: Would you miss cheques ??  (Read 7689 times)

Subculture

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Re: Would you miss cheques ??
« Reply #25 on: December 17, 2009, 04:12:38 pm »

I hardly use cheques at all now. Paypal, or direct money transfer from my online account.
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tigertiger

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Re: Would you miss cheques ??
« Reply #26 on: December 17, 2009, 04:27:46 pm »

I have tried to set up an online account before.

I registered on line, they then sent out an action code by snail mail. 1st class.
The registration have exceeded the 14 day time period before I got my letter.
I am overseas, 1st class business post does not cut it.

I called the bank, who were unable to suggest anyting, other directing me to the website and registering again.

That was a few years ago, I will try again and see if they have woken up yet.
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The long Build

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Re: Would you miss cheques ??
« Reply #27 on: December 17, 2009, 05:50:52 pm »

Also, can your model boat club be run without cheques, even if it is only to pay your membership fees to the club treasurer.
Alan

I would say Yes. as you could pay cash , Direct transfer to the clubs account or using the system I mention in post 15.. maybe not ideal but It could be done..  However it could be at least 8 years before we say bye bye to cheques..
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alan colson

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Re: Would you miss cheques ??
« Reply #28 on: December 17, 2009, 06:25:43 pm »

Some of our club members are a good distance away and don't come out to play all that often, then they may be at the lake and the treasurer may not be there so cash is a no no. Direct transfer maybe. That said it still does not help me or the wife with the show or the Guides.
Alan
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tomo55

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Re: Would you miss cheques ??
« Reply #29 on: December 17, 2009, 07:12:45 pm »

I would miss cheques usefull for solid fuel deliveries and loads of other uses.Try to avoid paypal when I can.
Already planning on leaving my bank in the new year greedy lot.
Chris
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dougal99

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Re: Would you miss cheques ??
« Reply #30 on: December 17, 2009, 07:25:13 pm »

I note that the alternative methods to cheques being suggested, apart from cash, carry a service charge ranging from £1 to £2.50. That's 10-25% of our club membership fee - no thank you.

As for cash replacing cheques. You go to the bank/atm withdraw cash. Send or take it to your creditor, who then goes to the bank and pays it in. Perhaps we could have payment days where we all meet at the bank and swap cash or better still promissory notes that we could call cheques. %%

I think I'd better think it out again  <:(
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Circlip

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Re: Would you miss cheques ??
« Reply #31 on: December 17, 2009, 07:56:10 pm »

Sadly I remember when to present a cheque actually meant thayt a bond had been struck between a vendor and a customer and if the money wasn't there, you didn't issue a cheque. How times have changed. We all seem to want things instantly, so the banks and other dubious sources of dragging out money that you don't have, to pay for things you think you can't live without, and charge a fee to allow the system to perpetuate. I still can't get my head round the fact that the Banks, who have been entrusted to look after MY money still try at every opertunity to Charge me for this pleasure, squander it and then ask me to help bail them out.

  They now want to destroy a system that has and can still work, in the name of modernisation? Why am I so cynical??

  Regards  Ian.
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bobdoc

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Re: Would you miss cheques ??
« Reply #32 on: December 17, 2009, 08:32:22 pm »

I think the loss of cheques would deliver a failure in supplier/customer relationships.

In the recent storms, part of a flat roof on our house blew off. A neighbour noticed the next day, before we did. We phoned a roofer immediately and the problem was resolved the next day. I handed the roofer a cheque at the time and he will process at his own time.

Customer delighted: roofer in charge of payment/time of submission of cheque to clearing bank.

Everyone happy, except the technophiles

Bit like the recent reports re digital television, really: all OK so long as "the punters" can resolve the problems: see BBC Breakfast today: digital is fine, "they" impose the rules, the rest of us have to solve the problems ourselves

Huh!

Bob
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dodgy geezer

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Re: Would you miss cheques ??
« Reply #33 on: December 17, 2009, 09:31:28 pm »

I wonder why some people claim that shops don't take cheques. I get quiat a lot of stuff at the CostCo cash-and-carry, and the preferred payment method there is a cheque. In fact, small businesses generally find the flexibility of a cheque, which works on the spot without any machinery, enables business to proceed.

Of course, if the banks manage to end cheques, they will then be able to charge a fee for every single transaction that takes place in the country.

But I'm sure that isn't going to affect their lobbying in the slightest (/sarc)
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Nordsee

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Re: Would you miss cheques ??
« Reply #34 on: December 18, 2009, 02:13:27 pm »

Here in Germany cheques disappeared over 10 years ago. We used to have Eurocheques which were guarateed by the Bank to a limit of approx 200 pounds. Then and now, bills were paid by Transferring money from one account to that of the receiver. Just fill in the form and drop it into any bank, it will be processed and the funds transferred Charge? well if done by a Bank other than mine, about 1 Euro, mine free. Before you query, everyone has a Bank account here, Cash is never paid by councils or Public funds, ie, Un employment, Social etc. Always to the Account. Here funds paid in before 11.00clock are on the account that day.
  If someone gives me a Cheque in Sterling my Bank charges a minimum of 30 Euros to credit it. So we do not bother and keep the cheques until we are next in UK and then pay them into our account there.
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dodgy geezer

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Re: Would you miss cheques ??
« Reply #35 on: December 18, 2009, 03:45:11 pm »

  If someone gives me a Cheque in Sterling my Bank charges a minimum of 30 Euros to credit it.

That seems a huge amount. Over here it would be considered an excessive and illegal bank charge - the Financial Ombudsman has ruled that charges must reflect the actual cost of the service, and he has legal powers to investigate and compel banks to charge a sensible price.

Or perhaps this is an attempt to force encourage everyone to use Euros?
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malcolmfrary

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Re: Would you miss cheques ??
« Reply #36 on: December 18, 2009, 05:04:00 pm »

Quote
  If someone gives me a Cheque in Sterling my Bank charges a minimum of 30 Euros to credit it.
It seems a universal thing - the main difference between bankers and burglars is that burglars do house calls.
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dougal99

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Re: Would you miss cheques ??
« Reply #37 on: December 18, 2009, 05:59:46 pm »

Then and now, bills were paid by Transferring money from one account to that of the receiver. Just fill in the form and drop it into any bank, it will be processed and the funds transferred

We have that here in UK, the form is called a cheque
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Bryan Young

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Re: Would you miss cheques ??
« Reply #38 on: December 18, 2009, 06:36:08 pm »

Yes, I would. Particularly the ones from "Ernie".
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barriew

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Re: Would you miss cheques ??
« Reply #39 on: December 18, 2009, 06:45:03 pm »


  If someone gives me a Cheque in Sterling my Bank charges a minimum of 30 Euros to credit it. So we do not bother and keep the cheques until we are next in UK and then pay them into our account there.

From the first of November this year this is not allowed. The EU has decreed that money transfers between accounts in the EU, including the UK, are to be free of commssion charges. There is supposed to be a Europe wide clearing system.

Barrie
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Hagar

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Re: Would you miss cheques ??
« Reply #40 on: December 21, 2009, 09:26:39 pm »

Havent written a cheque in almost twenty years, so NO I would not miss them.
Like our member in Germany, every thing in denmark is done by bank transfer.
Hell I havent even had real money, in my walet for a month or two !
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tobyker

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Re: Would you miss cheques ??
« Reply #41 on: December 22, 2009, 04:55:13 pm »

The banks would be very happy to stop giving all their customers cheque books. Then when we needed to send a "cheque" through the post, or use one to pay where we couldn't use a card or an electronic payment, we'd have to go and get a banker's cheque from the bank which will cost us at least £5 a time, and counting.
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polaris

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Re: Would you miss cheques ??
« Reply #42 on: December 23, 2009, 06:51:22 pm »


Dear Tobyker,

Quite right. One less service they would have to provide to their customers... on top of the other charges they make! <*< >>:-(

Just because they have imploded themselves (for want of a much more apt word!) , from now on they are going to take it out on us - the customer. It is we who are going to have to pay for all their mistakes, so it is us who must flex our muscles to show them that we won't be messed around, by moving out accounts to whichever bank is offering the best deals at any given time. Sooner or later they will get the drift that it is us/we the customer who is important and they must look after us - particularly that is was we the Tax payers who bailed them all out!!!

Regards, Bernard
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Bryan Young

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Re: Would you miss cheques ??
« Reply #43 on: December 23, 2009, 07:31:55 pm »

I'm probably totally wrong here, but I've read and heard about "Community Banks" recently. In my ignorance, I would sort of assume that this is the way that most (if not all) banks started off. Why not put your money...or whats left of it....into one of these banks. I appreciate that at the moment these are basically simple organisations......but they could grow. Perhaps a lot of the fault with "banking" is that the so-called "managers" have totally and utterly forgotten or ignored their roots. Even if it's your money, the big banks are charging you as an individual an arm and a part of of a leg just to get access to it. Fair? I think not. A matress would be safer at the moment. BY.
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dodgy geezer

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Re: Would you miss cheques ??
« Reply #44 on: December 23, 2009, 08:23:45 pm »


..Just because they have imploded themselves (for want of a much more apt word!) , from now on they are going to take it out on us - the customer. It is we who are going to have to pay for all their mistakes...


Um. ALL commercial enterprises 'take it out on the customer'. There is no source of money that is the banks' own - it is all ours. If an enterprise cannot show a profit, it ceases to exist. Incidentally, there is no 'Government' money either, even money they print.

We always have to pay for mistakes, and in this case the mistake was ours, in not calling a halt to what the banks were doing earlier. But at that stage the banks were paying huge dividends, and no customers were heard then saying that 'this is a step too far'. The banks simply did what we asked them to do - manufacture ever-growing profits with no downside - right up to the point where it became impossible..
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Roger in France

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Re: Would you miss cheques ??
« Reply #45 on: December 24, 2009, 08:03:06 am »

Dodgy,

You forgot one other thing the banks did. They lined their pockets with our money and ensured they would survive, individually. And not just "survive" but prosper. I can assure you I have personal knowledge of the obscene packages they awarded themselves, including pensions, houses and holiday homes which many can only dream of.

I have no objection to anyone working to secure a profit but I do object to fat cats who encourage the less fiscally aware to take on debts which are quite inappropriate. Yes, there are many of the general public who are silly in the way they indulge in debt but there are also very many who are illequipped to handle the sophisticated proposals made to them and the apparently wonderful "rescue packages" offered. There are those who believe that finance houses would not offer some of the loans they proffer if they do not see a real possibility of eventual repayment. Not so, they insure against loss, they sell on the debt they encouraged and, if all else fails, they slip over the horizon or turn to the Government (you and me) to rescue them.

Roger in France
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dodgy geezer

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Re: Would you miss cheques ??
« Reply #46 on: December 24, 2009, 01:46:10 pm »

You forgot one other thing the banks did. They lined their pockets with our money and ensured they would survive, individually. And not just "survive" but prosper.

Roger,

I am not specifically supporting banks, but EVERY commercial organisation '..lines its pockets with our money..'. There is no other kind of money available. All commercial organisations will also do whatever they can to survive and prosper as well. It's just that for most commercial organisations, taking too much pay or too much risk means that they collapse. Not so for the banks...

What I am arguing for is clear thinking, rather than mindless vituperation. The problem here is not that bank workers are particularly unpleasant. The problem is that we have an unbalanced commercial regulation process, which means that bankers have no practical controls over the money they can pay themselves, and they cannot be allowed to collapse because that would involve collapsing the country as well.

If the small model fitting producers (whom we all try to support) were placed in the same position, they would probably be behaving the same way. And we might be swearing at Action Electronics as LeatherJacket decided to put up the cost of a basic ESC by 20% because his wife needed a new Mercedes (only joking!! :embarrassed:). Mind you, imagine a world in which all economic activity depended on model boating - Ahhh...! 

I wasn't talking about mis-selling of loans, which is straightforward fraud, and something I of course deplore. The problem is built into the recompense process of the banking system, and I was complaining that we should have done something about this imbalance in the days when we were all sitting back happy with the proceeds of a continuously expanding economy. There were commentators who pointed this out, and who, like Cassandra, were laughed off the financial pages. That is why I was saying the mistake was ours.

Sometimes I dream of living in a world where humanity thinks...
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Shipmate60

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Re: Would you miss cheques ??
« Reply #47 on: December 24, 2009, 04:41:43 pm »

dodgy,
I could accept your view except for 1 part.
The Bankers themselves didn't know their own exposure to bad debt as it was bundled and sold on and BOUGHT back.
The main driving force for the expansion of the loan market was how bankers were rewarded.
Share price up, turnover up, large salary and huge bonus.
The high street banks were quite stable, the investment arm of the same banks were not.
It was the investment (gambling) side of the banks that got into trouble.
That and as previously stated they didn't know what they were buying and selling.

I do take exception to your last part "Sometimes I dream of living in a world where humanity thinks..."

The Bankers acted in an immoral, greedy way and got caught. It was all done for their own REMUNERATION, nothing more.

If you run a bank in a sensible way how can you lose, interest paid to depositors and a higher rate of interest paid on loans.
SIMPLES

Bob
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dodgy geezer

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Re: Would you miss cheques ??
« Reply #48 on: December 24, 2009, 05:09:12 pm »


The Bankers themselves didn't know their own exposure to bad debt as it was bundled and sold on and BOUGHT back.
....
It was the investment (gambling) side of the banks that got into trouble.

Yes. As I said, they took too much risk. The problem was not that they made a bad decision - in every commercial area people make bad decisions, and go down as a result. The problem was that we let the financial side of our society get into a state where we could not let the banks collapse, so they have been cushioned from the results of their own greed. Fear of failure is the thing that tempers greed, and we took that away....


I do take exception to your last part "Sometimes I dream of living in a world where humanity thinks..."

Why? Don't you? I don't think it will ever happen, though....


The Bankers acted in an immoral, greedy way and got caught. It was all done for their own REMUNERATION, nothing more.

That's the only reason anyone does a boring job like banking, as well as most other boring jobs. And the most greedy ones will rise to the top of the tree. The problem is not that they failed - we would have been quite happy if they had just failed. That would be commerce working. The problem is that we could not let them fail, so we are propping them up with taxpayers money.

I have no trouble with greedy bankers, or any other commercial types, trying to make more money. They should, of course, obey the law. If they are too greedy, and make the wrong decisions, they should fall. And if we find that we have to cushion them from their own incompetence and greed because we have bound ourselves so closely to them, I think that some of the blame for that situation should fall on us.

If you run a bank in a sensible way how can you lose, interest paid to depositors and a higher rate of interest paid on loans.
SIMPLES

You can lose very easily. I could start a bank next to you and take more risks. I will increase my deposit rate over yours, and leach all your customers away.

Of course, if I get it wrong, I will fail and lose all my customers' money, while the sensible customers who stayed with you at a lower deposit rate will be all right. In a nutshell that's what happened - the greedy banks offered more and the customers all flocked to them without considering the risk. That forced even the prudent banks to take risks or watch their share price and market segment slide, and that's what I mean by wishing the customers had thought...   
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Shipmate60

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Re: Would you miss cheques ??
« Reply #49 on: December 24, 2009, 05:32:52 pm »

Of course, if I get it wrong, I will fail and lose all my customers' money, while the sensible customers who stayed with you at a lower deposit rate will be all right. In a nutshell that's what happened - the greedy banks offered more and the customers all flocked to them without considering the risk. That forced even the prudent banks to take risks or watch their share price and market segment slide, and that's what I mean by wishing the customers had thought...   

That is my only problem too many gambled and got it wrong.
I just wonder how by admitting that the bankers didn't actually know what they were selling while "insuring" the toxic debt and ensuring it was spread around the other banks is considered reasonable.
It would help if you knew what you were buying.
They too a risk and it failed, but wont accept it was caused only by the bankers none else.
It was a greed generated crisis where none was required.

Bob
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