another "plane" thread

[Trash man]

no not really but its a question me and my boss were discussin at work today. here it is

"Do you think there will be a point in the future where paper money will be useless? Everything will be done electrionically(i.e. online billing, direct deposit, atm cards, etc)" is it possible? explain your answer please

[Steel2686]

Before paper money goes by the wayside, checks will go away. They are dinosaurs that need to die. Checks are so archaic, I never use them.

As far as papaer money, that will be tough. There will always be people in this world who don't trust electronics with their money. It's not just the older generation either. I work with a guy who only has a checking account for things like direct deposit. He immediately withdraws the cash and keeps it somewhere. He's 33 with a wife and two kids.

[Rhode Island Red]

Despite the advances making checks and physical currency potentially obsolete due to electronic funds x-fers, I still prefer to pay my bills using checks. with checks, I have 100% positive control over when bills are paid, and cash flow. The only hand I want in my cookie jar is mine... not verizon, electric company, city sewer and sanitation, cox communications etc. Giving up money and checks would be giving up my financial control.

[Steel2686]

Despite the advances making checks and physical currency potentially obsolete due to electronic funds x-fers, I still prefer to pay my bills using checks. with checks, I have 100% positive control over when bills are paid, and cash flow. The only hand I want in my cookie jar is mine... not verizon, electric company, city sewer and sanitation, cox communications etc. Giving up money and checks would be giving up my financial control.

I completely agree about financial control. My biggest problem with checks, however, is the downtime between the transaction to the check clearing. God forbid if it's an out of state check. Tack on another few days in some cases, not counting weekends.

If check clearing was more streamlined, I wouldn't be against them. I just like knowing that at the moment I pay for something, it's done. Many establishments don't take checks for that very reason. I don't have anything automatically withdrawn except for my mortgage payment. The only reason I have that set for auto is I save $80 a month in fees that way.

[Trash man]

good points but do u think it may be forced?

[Steel2686]

good points but do u think it may be forced?

In some cases, sure. Online, it's obviously a necessity. However, brick and mortar places will most likely always take cash.

One reason is power outages. Another would be system failures. Cash can always be tendered during both cases with just a calculator.

I don't see cash ever going away completely. Maybe fading to the background, but not more than that.

[Trash man]

ok. btw the plane does take off

[MDMike]

Despite the advances making checks and physical currency potentially obsolete due to electronic funds x-fers, I still prefer to pay my bills using checks. with checks, I have 100% positive control over when bills are paid, and cash flow. The only hand I want in my cookie jar is mine... not verizon, electric company, city sewer and sanitation, cox communications etc. Giving up money and checks would be giving up my financial control.

2x, ditto, ^^^

[sneitzel]

Most all of the accounts I pay online have the ability to accept an "electronic" check which is basically like using your debit card except you enter the routing number and account number from your check. I have complete control over when I log into the website and send my pmt. Most clear in 2-3 days, much faster than thr USPS can even deliver a paper check. I only have 1 account I have to send a paper check to. It will be paid off in about a year then it will be 0. I do see paper checks going away and places only accepting debit cards or charging extra to accept a paper check.

Also,
alot of the places that do accept checks don't process them through the traditional system. They scan the numbers on the bottom of the check, key in the amount and the check clears electronically. I have even had a retailer scan my check, stamp it PAID and hand it back to me immeditely.

[Steel2686]

Also,
alot of the places that do accept checks don't process them through the traditional system. They scan the numbers on the bottom of the check, key in the amount and the check clears electronically. I have even had a retailer scan my check, stamp it PAID and hand it back to me immeditely.

Not enough do that, but that's just retailers anyway.

I've been paid with checks several times when I do a carpentry side job for someone. There have been times I've had to sweat it out ... hoping the check would clear. It just seems so archaic to me.

[Trash man]

how bout the bus driver strike in new milford? you all dont wanna hear what i have to say about this one

http://www.newstimeslive.com/news/st...rce=big_barker

now i must go pick up my sister from the highskool, be back in o i dont kno, next year? lol

[PontiacFan]

Cash will never 'go away'.
The poor man will also have a need for it & there are waaaayyy too many people who don't even use a real 'bank'.

[Steel2686]

how bout the bus driver strike in new milford? you all dont wanna hear what i have to say about this one

http://www.newstimeslive.com/news/st...rce=big_barker

now i must go pick up my sister from the highskool, be back in o i dont kno, next year? lol

I feel for you up there. My brother's commute from New Milford to Danbury went from 30 minutes to over an hour.

[Trash man]

i took me almost 20 minz to get INTO the highskool p-lot i think that they should let the kids who can drive, leave like 30minz early so that its not such a mess. also i looked at the paper real quick

Bus Drivers: "We'll Be here as long as nesscary" COME ON ALREADY! stop being selfish, u knew what the pay was and u still took it. i should sue them for gas money for driving my lil sister to skool and back. i mean i prob cost me 5$ a trip