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The difference is that in Australia literally zero retail businesses will ever accept a cheque under any circumstance and all government payments are made using
by scoopertrooper 5y ago
The difference is that in Australia literally zero retail businesses will ever accept a cheque under any circumstance and all government payments are made using electronic transfers. I haven't been issued a cheque book from my bank in over decade and I've maybe cashed 3 in my 30+ years alive.
I actually can't think of a single place outside of a bank where you can use a cheque and even then it's a challenge to actually exchange it for cash. Most banks in Australia have trouble coming up with $10,000 - even busy branches in the CBD of a major city.
Now, granted I haven't been to America, but I do read things on the internet. From what I understand, your financial system is held together by a system of pneumatic tubes passing cheques around, though I hear there is some experiment with telegram machines.
- barsonme 5y agoSomehow those tubes keep $22tn flowing :) Alas, I’m not sure which tubes you’re referring to. These days, banks use FTP to shuffle bank transfers around. However, I do think checks have their uses. I’d rather write a check than use cash any day of the week. You can cancel a check, but you can’t cancel cash. Of course, I’d rather pay digitally. But sometimes that’s not an option. Also: “cashing” a check usually just mean depositing it into your bank account. Not swapping it for cash, although you can do that, too.