farcaster@beehaw.org to Finance@beehaw.org · 1 year agoWhy is check fraud suddenly rampant?www.bostonfed.orgexternal-linkmessage-square10fedilinkarrow-up112arrow-down10
arrow-up112arrow-down1external-linkWhy is check fraud suddenly rampant?www.bostonfed.orgfarcaster@beehaw.org to Finance@beehaw.org · 1 year agomessage-square10fedilink
minus-squareThenThreeMore@startrek.websitelinkfedilinkEnglisharrow-up4·1 year agoThat’s interesting. In the UK most companies haven’t accepted checks in about 15 years.
minus-squaregreenskye@beehaw.orglinkfedilinkarrow-up4·1 year agoIt’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-squareHalJor@beehaw.orglinkfedilinkEnglisharrow-up2·1 year ago…and no app to install, or links to maintain between accounts.
That’s interesting. In the UK most companies haven’t accepted checks in about 15 years.
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.
…and no app to install, or links to maintain between accounts.