Cheques are a very useful and quite secure method of transaction
(because all the security work and processing framework to prevent
cheque fraud has been in place since the 1970s).
They are slow. That's the point.
They are essentially a two factor method of instruction to your
bank. Legally (in Britain at least) one can use any reasonable method
to give instructions to ones bank. Banks that want to "phase them out"
because they are "too expensive and slow" are derelict in their
function and should be hauled over the coals by trade and industry
legislators.
They are slow. That's the point.
They are essentially a two factor method of instruction to your bank. Legally (in Britain at least) one can use any reasonable method to give instructions to ones bank. Banks that want to "phase them out" because they are "too expensive and slow" are derelict in their function and should be hauled over the coals by trade and industry legislators.