The biggest issue with that is the banks and their dispute system and the fact that there are only three major credit card processing systems that charge the businesses coming and going which is why we all pay for companies to take our money.
Those fees will go up and disputes will go up and, if you haven't had the pleasure of disputing an incorrect posting or charge on your bill, it's not an easy thing for you to win anymore.
I almost got stuck paying someone else's vacation twice after my credit card was not taken out of the hotel system after I checked out in person both times. Chase informed me I had brunch at 12pm in NYC even though I landed back in Georgia at 10am and Arizona wanted me to pay $400 in September when I already checked out in July.
It was a lot of time and effort to get the hotels to fix it since Chase was content to let me pay for my card being misused.
The other thing is WorldPay, one of the major credit card processors, went down on 12/2. They did nothing to fix the errors that happened when people's cards got hit two and three times.
My business is still dealing with that and the cost of the disputes which the business pays for, not the credit card processor, coming and going whether we win them or not or whether they are our fault or not.
So far we are out hundreds of dollars and counting for WorldPay's tech issue and that's a lot to a small business.
This is about enriching the banks, again, and the credit card monopoly, plus they get to eliminate an expense of processing checks and business people like myself hogging teller lines to deposit. That means less staffing and proofing and more fees collected.
Ever try to get a business to stop drafting your bank account after you cancel a service? It's a nightmare and no one cares. You can control that with a check.
If banks don't want to be in the business of handling money in all its forms, they should become something else.
I'd love to find a career where I didn't have to work for my paycheck or direct deposit either, but when you are in a service industry, you should actually provide a service.
And ethically safeguard your customers from the inevitable errors that are clearly proveable. Not back up the credit card processors or other vendors who are illegally drafting cards and bank accounts after proper cancellations and service terms.
My business got our account drafted three times due to a vendor's tech error. The vendor said in writing, please have the bank reverse the drafts. It's easier.
Sent it to Chase in a dispute that took paperwork and actual trips to the bank again over something that was not our fault with the vendor's written okay to return the money to us.
Easy, right? Chase refused the dispute saying the drafts were authorized. We now pay that vendor with a mailed check only.
Unless and until the technology moving our money is more reliable and there are laws and actual people in place to protect consumers from this type of BS when the tech fails, the paper check should live on.
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