Death of Cheques!

[Arborist Sites]

its a whopping percentage ian:thumbdown:

 

Actually no, my mate has one that runs through a sim card, he pays £120 a year rent and a flat rate of £2.50 per transaction on over £100....

 

Its a rugged unit as well

Edited January 23, 2010 by Arborist Sites

[Matt Adams]

Have a similar payment terms in my t&c, dates, interest, etc..but it's all a bit toothless due to all the hassle of really following it to the end, so i let the customer pay that little bit later and get my money. Dont know how much card machines cost, or how well they cope falling off the dashboard or sawdust getting into them...sawdust seems to wreck all my mobile phones!

[Ian Leach]

Actually no, my mate has one that runs through a sim card, he pays £120 a year rent and a flat rate of £2.50 per transaction....

 

Hmmm sounds ok, any info on it or is it through the bank???

[Ian C]

What about a card machine or are they to expensive ???

 

I looked into this last year but the charges put me off, if they come down it will be the way to go. most shops and garages use them but its ok if your doing a grand a day. think the best deal i got was £35 per month rental and 2.5% of all transactions, but min term was 3 years. You could soon start paying £100 a month or more just to use the machine and save a bit of time but its the way forward i think that and paypal. the dust thing will be an issue though.

Edited January 23, 2010 by Ian C

[Tony Croft aka hamadryad]

interesting little thread, always wondered about them card machines.

[Arborist Sites]

Hmmm sounds ok, any info on it or is it through the bank???

 

 

I will ask him next week and post the info !

[skyhuck]

It thought they were planning to phase it out by 2018 IF a suitable replacement method can be found, Its possible they could delay it or even scrap the idea

 

Your right 2018 is the proposed date and a decision on whether or not they will actually scrap cheques will be made in 2016.

[Arborist Sites]

Your right 2018 is the proposed date and a decision on whether or not they will actually scrap cheques will be made in 2016.

 

Cheques will be gone well before that. This mobile phone payment thing is being trialled including sending payment by sms.

 

More scary though is the microchip inserted into your hand/arm..... VERY SCARY.

 

 

 

I personally cant see cheques being around for more than another year or so, i know 2018 is the date set, but already most people wont accept them.

[Ian C]

Cheques will be gone well before that. This mobile phone payment thing is being trialled including sending payment by sms.

 

More scary though is the microchip inserted into your hand/arm..... VERY SCARY.

 

 

 

I personally cant see cheques being around for more than another year or so, i know 2018 is the date set, but already most people wont accept them.

 

Most people still DO accept cheques though, its only the large firms that dont, Large fuel retailers, big supermarkets and large shops etc, most small firms and one man bands still have take cheque. i will consider the machine again if i can get the right deal, the lengh of time tied into a contract is really what put me off, a 3 year deal is to long to be tied to a supplier.

[Rupe]

If you think how things have moved in the last 10 years in terms of internet banking, paypal and mobile phone technology, another 8 years is a long time in technology. I agree that the cheque will simplr remove itself form use as we get more used to other methods.

 

We don't necessarily need card mahcines or anything else, so customers apy me by internet bancking already, and I pay nearly all my accounts via internet.

 

I can only remember a couple of clients last year that didn't use e mail, so in 8 years even the slower ones will be on internet banking.