telecheck telecheck is part of a cash cow atlanta, Georgia

Hi Coast,

Yes the merchant suffers the loss ultimately just like with a credit card. The difference being the consumer pays in the short term with bounced checks and all kinds of stress.

As far as someone else mentioning the fees associated with credit cards.  These are not passed individually to consumers but are part of the overall cost of doing business factored in by the retailer.  A credit card can in fact cost you zero if you use the right kind of credit card and pay it off every month.  The advantage being the buyer protection you get if you have a dispute over a charge or the quality of a piece of merchandise. 

And, BTW - I am big on paying cash only because I don't like leaving little electronic footprints everywhere I go.  I have $40,000 line of credit on credit cards but pay them off in full every month.  I use credit cards for certain things cash for others.

Tagurit,

If the cashier does not verify a matching signature then the merchant will suffer the loss. I agree that a credit card is better than a debit card, but a debit card gives the buyer the ability to receive cash back at the counter in many stores.

pay with cash,

Merchants do not add a percentage to your purchase (except some gas stations) when you pay with plastic. They pay a service fee, which is usually less than 2%. Your 6% claim is way higher than reality. Sure, the price of the service is reflected in the price of goods and services but it's not added exclusively to the individuals that pay with plastic. If Larry worked for TeleCheck, why would he be against writing checks? It would not be in his best interest. Think about it.

Get on board and quit writing checks in the stores.

If everyone paid with a check, the stores would have to mark up merchandise way more than 6%.  Most of them process checks as ACH transactions, which actually get charged higher fees than debit cards, and that's not even counting the value of a cashier's time.

The more that people use their debit and credit cards the sooner TeleCheck will be out of business. In addition to that, I don't like standing behind you people that are stuck in the 20th century.

Larry, you must work for telecheck. That is the exact thing that they always reply with. I do not know why you want to classify me as a redneck but that is your 1st Ammendment Right that I fought for. As far as paying with a debit card, why should I have to pay an increased amount for everything I pay for because of your convience. Stores mark up merchandise and gasoline a mininium of 6% because of the fees associated with your beloved debit card. Yes, I do agree that it may be faster than a check, however I do not feel that a store should charge me for your convience. I wish they would pass on the cost to everyone using a debit or a credit card. That would change your opinion. As for crawling back into my cave, I have a very nice house. So keep paying your monthly rent with your debit or credit card and one day I may just own the house that you live in.

While I agree it can be annoying to stand in line behind someone writing a check as it takes longer, using Debit cards is not much smarter.   Having a debit card associated to your checking account is like ripping the bank vault door off your account and installing a screen door.   Here is what I mean by that.  Most people do not have a firm understanding on how unsecure debit cards are.  As just ONE example, most all POS at stores allow the cashier to select credit or debit card.  If you swipe a debit card and the cashier hits the credit button, the debit card will process as a credit card transaction and like most store personnel who don't pay attention, the cashier will likley only ask for a signature meaning your checking account just got accessed with absolutely NO VERIFICATION of who you are.   While in the event of fraud or theft, your bank will say "oh we'll make it right, etc. etc." that means little if your mortgage or car payment bounce in the mean time and keep in mind the burden of proof still falls on you - and while you're trying to prove it wasn't you, your money is gone.  I find it breathtakingly irresponsible of the banking industry not to more fully disclose the potential security issues of debit cards.   

A better option would be to use a credit card and ensure you pay your balance every month to avoid any interest fees.   This would also provide an easy tracking system for what was spent and the ability to "dispute" items if you are not happy with services or merchandise.   Even better yet, use cash.   

Buy a calendar.  Circle the year.  Carry it with you.  Then the next time you want to write a check in a store, pull out the calendar and note what year it is.  Then ask your self why, in 21st century, are you attempting to pay for a purchase with a 19th century form of payment when you have a debit card in your pocket?

Just what is it with you morons who feel you have some sort of god-given right to shut down the checkout lines while you screw around writing checks?  Aside from you ignorant rednecks, the only people who write checks are druggies trying to pass worthless paper.  Crawl back in your cave and stay out of the stores.