Originally posted by Roger Johnson:
i suppose foreign check is OK. i think US banks will convert it into US currency.
Originally posted by Jeroen Wenting:
We don't have checks at all.
Originally posted by David Harkness:
How do people in Europe (or other checkless economies) pay rent?
Originally posted by Axel Janssen:
Rent is mostly being paid by automatic monthly bank transfer.
Originally posted by Ernest Friedman-Hill:
Ugh. I would hate that. The whole concept of just leaving your money in a pile and saying "Take what you want" is just not good.
What happens when there's a dispute? What happens when there's a billing error? I got a $4,000 electric bill once two years ago due to a clerical error; since nothing happened until I paid by check, everything was fine. If they had automatically taken $4,000 from my checking account, I somehow doubt they'd be in much hurry to resolve the problem.
While that's very satisfying on the people-versus-corporations level, I suspect it's simply a response to check fraud. Believe it or not, it's still very common, especially considering all the check-cashing stores in minimalls and that it's pathetically easy to acquire fake identity credentials.
Originally posted by Dave Lenton:
The banks probably just want to slow things down so that they can have the money in their account for a few days to get the interest.