Target no longer taking cheques

[dez1978]

One of the podcasts I listen to did a series on how different America is from the rest of the world and why it does not make sense to continue to compare them. Things are so different at a cultural level that the impacts affect unexpected things.

I think the adoption of person to person bank transfers is one of those things that won't happen in mass for America until a large percentage of people are forced as they kick and scream.

Until then checks will play a less and lesser role while a more vocal minority screams about their rights to use a check.

what is a person to person bank transfer? Like Venmo?

 

[kdonnel]

what is a person to person bank transfer? Like Venmo?

Outside of the US it is common for the bank itself to facilitate person to person payments using the bank app or web page.

In the US we have third party apps like Zelle, Venmo, Cash App, Apple Cash, Paypal, etc.

Fragmentation to the point that two people might be users of three different services, six between the two people, and not have a single one of them in common.

 

[dez1978]

You can’t do that for free on your bank app?

Not if the accounts are at different banks.

Sounds like a cash discount is common in some parts of the USA. Never seen it in Canada.

I think it really only happens at specific types of places. Like the Tire place, I get a discount for paying cash. The eye dr and dentist. But not stores or anything

Even in the US, it's regional. I have never seen any store or restaurant around me (Maryland) do cash discounts. If anything, more places are becoming cashless. I saw that a cafe I sometimes go to swapped over to being cashless and you have to order at a kiosk similar to the ones they have at McDonalds.

It isn't really a thing in big chain stores or restaurants. But the dentist, eye dr, plumber, mechanics etc. Smaller businesses that are not affiliated with national chains, or mom and pop type places do it the most around here. Although some of the truck stops advertise gas prices as a cash price or a credit price.

 

[Smugpugmug]

Not if the accounts are at different banks.

I think it really only happens at specific types of places. Like the Tire place, I get a discount for paying cash. The eye dr and dentist. But not stores or anything

It isn't really a thing in big chain stores or restaurants. But the dentist, eye dr, plumber, mechanics etc. Smaller businesses that are not affiliated with national chains, or mom and pop type places do it the most around here. Although some of the truck stops advertise gas prices as a cash price or a credit price.

None of those places do cash discounts near where I live (don't know about mechanic as I haven't been in a while but definitely not any doctors office).

 

[tvguy]

The Durbin Amendment of the Dodd-Frank Wall Street Reform and Consumer Protection Act prohibits surcharges for debit transactions.

However, merchants may be able to charge a flat fee called a "convenience fee" to customers who use a debit card if they also offer a direct payment option, like cash, check, or money order, that doesn't incur a fee.

A fee is a fee in my book.

 

[kdonnel]

A fee is a fee in my book.

A flat fee is not the same as a percentage based surcharge.