Here's a surprising (I'm being sarcastic) report... I see only 9 pieces of information an identity thief would want...and it's printed on one piece of paper for his (or her) convenience. At least it doesn't contain really dicey information, such as: "our bank's name", it's routing number, our account number, our name and address...What's that you say? Our signature too? Oops! Nevermind...
And to think that we've been handing that information over to complete strangers for decades. (who in turn, forward them on to additional complete strangers) When I look back I'm still amazed that the paper check lasted as long as it did. It's a different world out there today. In a way I kinda miss the old one...
And to think that we've been handing that information over to complete strangers for decades. (who in turn, forward them on to additional complete strangers) When I look back I'm still amazed that the paper check lasted as long as it did. It's a different world out there today. In a way I kinda miss the old one...
According to an American Bankers Association. report, a net 23% of consumers plan to decrease their use of checks over the next two years, while a net 14% plan to increase their use of PIN debit.
Editors Note: Prediction: That 14% number will end up being much higher as consumers learn that PIN debit eliminates holds at the gas pump...and protects them against what I consider to be the banking industry's "biggest scam (or should I call it "skim" in history" ... their so-called overdraft "protection" program. PIN Debit is processed real time...Hey, I just had an idea...has anybody started the "PIN Debit Association" yet?
Bill payment remains the last stronghold of paper-based payments -- for the time being. Checks continue to be the most commonly used bill payment method, with 71% of consumers paying at least one recurring bill per month by writing a check. However, on a bill-by-bill basis, checks account for only 49% of consumers' recurring bill payments (down from 72% in 2001 and 60% in 2003).
Editors Note: Prediction: That 14% number will end up being much higher as consumers learn that PIN debit eliminates holds at the gas pump...and protects them against what I consider to be the banking industry's "biggest scam (or should I call it "skim" in history" ... their so-called overdraft "protection" program. PIN Debit is processed real time...Hey, I just had an idea...has anybody started the "PIN Debit Association" yet?
Bill payment remains the last stronghold of paper-based payments -- for the time being. Checks continue to be the most commonly used bill payment method, with 71% of consumers paying at least one recurring bill per month by writing a check. However, on a bill-by-bill basis, checks account for only 49% of consumers' recurring bill payments (down from 72% in 2001 and 60% in 2003).
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