Quote:
Originally Posted by mineistaken
Well as an european I was surprised that cheques still exist when I found out they are so popular in US. Its really the most stupid thing to do.
How does it work in any European (and probably most of the countries in the world):
You work at a company, the payday comes, company sends money from their bank account to your bank account. Its like p2p transfer basicly. You get the money in your bank account the same day. Cost of this transaction is for example 30 euro cents if you use the same bank as your employer or for example 50 euro cents if you use different bank. Hell maybe these operations are even free in some countries, it varies. Thats it.
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Doing all bank to bank transfers then using your plastic card to pay bills and buy everything. Makes for sweet accounting and a road map of exactly where of every dollar transaction was made and to whom. Hard to hide anything in that system.
Kinda like in Las Vegas now a days. when you play the slot machines you put your money in and get a receipt if you win anything in return. That is just not the same as having 5000 quarters chunk out rapidly one at a time. ( done that one time and it was fucking great).
Checks are more like cash to me. I have it in my hands and I can either let my bank know I have it or just go and cash it.