Save the Cheque!

Extant

Paulgonnabedebtfree wrote: »

Abbey/references

But this isn't an advantage of cheques, it's an inadequacy of Abbey's system.

Then again, you get what you pay for...

PROLIANT

Ok thank you for re-educating me on cheques, it has certainly changed my view point.

Paulgonnabedebtfree

BarclaysManager wrote: »

But this isn't an advantage of cheques, it's an inadequacy of Abbey's system.

Then again, you get what you pay for...

Well it is free to me as I stay within certain parameters. I don't expect bells and whistles but I do expect it to work.
So tell me please, do Barclays show the payment references in real time on their business accounts? I would have no problem paying a bit for this if this info was available to me - so long as I could bank out of hours and the charges weren't extortionate.

simongregson

My brother runs a small business and does not accept cards. The reason being that to accept them he would have to rent a terminal, this seems to be about £20 per month + a setup fee. Being as he has no passing trade etc. there is no advantage to him accepting cards. I am sure he would accept BACS transfer for payments, but none of his customers have ever asked for this, probably because most of them will find it more hassle to find out his account details, go home, log onto internet banking and pay him. They either pay cash or cheque. Cost of processing these is not an issue as they are high value/low volume.

I am sure he would accept debit cards and perhaps credit cards with a surcharge if the bank were willing to charge less for the rental and set up. I think many small firms are in the same situation.

Incidentally, he has never had a cheque bounce. There is more trust I feel between customers and smaller businesses (plus he knows where they live!)

ShelfStacker_3

Paulgonnabedebtfree wrote: »

So tell me please, do Barclays show the payment references in real time on their business accounts? I would have no problem paying a bit for this if this info was available to me - so long as I could bank out of hours and the charges weren't extortionate.

Barclays do AFAIK, as do HSBC, Lloyds and virtually every other bank that's a real bank. Abbey are pretty much a basket case in this regard.

ahai1

I would never go to anyone who had the nerve to charge me for using a debit card. One mobile phone shop calls it a handling fee but I don't see why I should pay as it is a merchant fee.

It is not a good idea for the banks to lower the fees as the money has to come from somewhere to pay for your current account.

PROLIANT

ahai1 wrote: »

It is not a good idea for the banks to lower the fees as the money has to come from somewhere to pay for your current account.

Which is why banks should start charging all of its customers except basic account holders a monthly service charge?
I pay for using my mobile phone so why should I not pay for using my bank account?

ahai1

I see no reason why we should pay.

EarthBoy

PROLIANT wrote: »

Which is why banks should start charging all of its customers except basic account holders a monthly service charge?
...

That would just lead to everybody who doesn't use their overdraft opening basic bank accounts. Some of them offer all the facilities of a current account except an overdraft, so the only people left in ordinary, i.e. fee paying accounts, would be those who go into the red. The result is that we would be back with the current situation where all the charges are levied on people who overspend.

BuddyBonthenet

PROLIANT wrote: »

Which is why banks should start charging all of its customers except basic account holders a monthly service charge?
I pay for using my mobile phone so why should I not pay for using my bank account?

My answer would be because the banks already make loads of money from our money.