Re:The debit card fee driving US banks crazy
by Symbiote on Friday January 30, 2015 @09:42AM
(#8972195)
That was my point though — British banks don't post each other cheques on anyone's behalf. There's an older BACS system for electronic transfer, and a newer one called Faster Payments.
The numbers show 13× as many electronic payments as cheques, and I can believe 10 electronic payments per person (salary, six or seven bills, couple of credit cards, plus business use).
I probably write 2-3 physical checks a month (housekeeper, random other service people, personal payments for various activities) and another 2 to 3 from my bank. And that's with doing all the automatic payments for utilities etc. that I can.