farcaster ( farcaster@beehaw.org ) to Finance · 3 年前Why is check fraud suddenly rampant?www.bostonfed.orgexternal-linkmessage-square11linkfedilinkarrow-up116
arrow-up116external-linkWhy is check fraud suddenly rampant?www.bostonfed.orgfarcaster ( farcaster@beehaw.org ) to Finance · 3 年前message-square11linkfedilink
minus-squaregreenskye ( greenskye@beehaw.org ) linkfedilinkarrow-up7·3 年前It’s because digital payment methods are almost completely owned by private entities here that charge fees for processing. Checks don’t incur those costs, so people stick with them.
minus-squareThenThreeMore ( andthenthreemore@startrek.website ) linkfedilinkEnglisharrow-up1·3 年前No need for any special apps or ‘links to maintain’ whatever that means. You just need the person’s Bank details.
minus-squareThenThreeMore ( andthenthreemore@startrek.website ) linkfedilinkEnglisharrow-up2·3 年前I can only assume the cost of dealing with checks was greater (as well as far less convenient) than BACS transfers were over here.
It’s because digital payment methods are almost completely owned by private entities here that charge fees for processing. Checks don’t incur those costs, so people stick with them.
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No need for any special apps or ‘links to maintain’ whatever that means. You just need the person’s Bank details.
I can only assume the cost of dealing with checks was greater (as well as far less convenient) than BACS transfers were over here.