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I had to bust mine out again recently when I took a small loan against my retirement account and the servicer inexplicably only took check as repayment methodol
by SOLAR_FIELDS 3y ago
I had to bust mine out again recently when I took a small loan against my retirement account and the servicer inexplicably only took check as repayment methodology. In the States you sometimes see it more used as a tactic to drive revenue by landlords - legally they are often required to take a payment without charging any sort of fee associated with it. So what they will do is allow that by check - the most annoying route possible - and then turn around and offer an ACH or other electronic alternative for some comparatively exorbitant fee.
In any event the heyday for checks has been past in the States for a long, long time. I got a book of checks when I opened my first checking account nearly two decades ago, and I’m still on that book of checks. Once the internet came around and everyone accepted debit is what really killed it I think. For a long time there was just stuff that straight up didn’t accept debit. Plus familiarity from an older generation when that was even more true
- JohnFen 3y ago> I had to bust mine out again recently when I took a small loan against my retirement account and the servicer inexplicably only took check as repayment methodology. You're lucky you had checks to bust out! I haven't had any for about 20 years now. One time, I needed to pay someone who only took checks and that required me to go to my bank to get a counter check for them.