Still prefer paper and I balance every month. We were in the bank with an account representative and got to talking of this same thing. She told us we would not believe how many people come in throw up their hands and ask "How much money do I have?"
Contributor
Still prefer paper and I balance every month. We were in the bank with an account representative and got to talking of this same thing. She told us we would not believe how many people come in throw up their hands and ask "How much money do I have?"
Contributor
I know that some banks only offer electronic statements. No paper statements even for a cost.
I don't get paper bill for anything unless it is my only choice. I pull my checking and credit card transactions and balances into Quicken once a week and would notice pretty quick if something is up.
Contributor
We still do paper statements, write checks, and receive and pay bills by mail. Anytime before writing checks for the month, call on customer service line and balance books. Once after calling, wife asked "What's wrong?" I replied "Why do you ask?" She said "You as white as a sheet," to which I replied that bank shows me to be about $5200 overdrawn, with no withdrawals or checks having been written yet. Took a couple phone calls, and about two hours to find out what had happened. I had made two deposits, at different branches on different days, that got recorded to my account as withdrawals. Thankfully no checks were outstanding. To this day, bank hasn't been able to explain how this happened, not once, but twice. Been with this bank since 1968.
Moderator
The only checks I hand write these days are from my mother's account for medical co-pays. All my bills are paid automagically, electronically or go to my AMEX for consolidation. I stopped getting paper statements years ago. Oh, I occasionally write a check for my business when buying materials from suppliers who have a surcharge for using a credit card, but that's maybe one every two months or so. Balancing accounts is fast and simple online.
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The most expensive tool is the one you buy "cheaply" and often...
Contributor
Not with an internet speed of 0.69 MB, and that's on the good days.Originally Posted by Jim Becker
Moderator
Yes...something we've been discussing in the "what comes next" thread here in OT.
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The most expensive tool is the one you buy "cheaply" and often...
Friend of the Creek
As member of the banking industry most of my working life, banks did it to save their money and make more profit
They will tell you that they did it for ecological reasons, but that is bull, and it’s all about their profit and squeezing every last penny.
Now that said, there are advantages to the customer. Less paper means less to destroy after “x” number of months (shredding or burning is a PITA) and on line banking has a big advantage of seeing an exact balance on all your accounts including credit cards. I can see what checks have cleared in a few seconds. I do opt in for paper statements and do on line banking. So I have the best of both worlds. I single source all my credit cards to the same bank so I am a few clicks away from seeing credit card stuff.
Regards,
Tom
Contributor
Yup. I wrote a total of two paper checks last year.
The transition to paperless was a bit tedious: turns out a consumer-grade shredder really isn't up to churning through that kind of volume in a couple of hours.
Yoga class makes me feel like a total stud, mostly because I'm about as flexible as a 2x4.
"Design"? Possibly. "Intelligent"? Sure doesn't look like it from this angle.
We used to be hunter gatherers. Now we're shopper borrowers.
The three most important words in the English language: "Front Towards Enemy".
The world makes a lot more sense when you remember that Butthead was the smart one.
You can never be too rich, too thin, or have too much ammo.
Contributor
I don't think I've written 2 personal cheques in the last 10 or 15 years. Business, yes we still write a few cheques a month, like maybe 3 or 4.
Member
You are so right, Thomas! I prefer everything be online and don't miss paper at all, but my bank and utilities talk of their eco-credentials, yet send me targeted offers and other junk mail in paper form. In a similar vein, Whole Foods (until recently, for obvious reasons) encourages reusing grocery bags to save paper but sends out a paper flyer with their current specials. It took a fairly long phone call to get them to stop sending them to me.
Contributor
Some of us old fellows resist all the this fancy electronic technology. But when it comes to banking and paying the bills, I find electronic transactions are the cats meow. I like Fidelity Investments deposit program. Send a photo front and back of a check and bam it's deposited in your account.
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