Friday, December 18, 2009

Checks Mix

The UK is phasing out paper checks:
After more than three centuries, the humble check is set to become a historic relic after British banks voted to phase it out in favor of more modern payment methods.

The board of the UK Payments Council, the body for setting payment strategy in Britain, agreed on Wednesday to set a target date of October 31, 2018 for winding up the check clearing system.
I'm sure the U.S. will be following suit; Bank of America just needs to figure out what fees to charge. But then again, it may be a moot point because I doubt anyone will have any money left by 2018 anyway.

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