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Old 11-04-2011, 03:16 PM
 
24,488 posts, read 41,010,427 times
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Quote:
Originally Posted by Escort Rider View Post
The merchant actually pays extra if you use a credit card as opposed to cash - about 3% - it's a processing fee. So they would probably reap bad PR by charging when there is no additional cost to them. Unless it's considered amortization for bad checks. I wonder what percentage of checks are bad?
There is typically transaction fees for check deposits. Something like 50 cents each after the first 200 or something per month. It varies bank to bank.
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Old 11-04-2011, 10:39 PM
 
Location: Los Angeles area
14,017 posts, read 20,844,390 times
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Default An attempt at an overview

Quote:
Originally Posted by NJBest View Post
There is typically transaction fees for check deposits. Something like 50 cents each after the first 200 or something per month. It varies bank to bank.
I didn't realize that, but it stands to reason. So any payment modality except cash (bills out of our wallets) will involve a cost for the merchants. In that connection, note that the legislatively mandated reduction in the debit card transaction fees paid by merchants to the banks was just that - a reduction, not an elimination. Merchants are still paying a transaction fee on every debit card swipe, just lower than before. And maybe even cash has its drawbacks, namely the security issues involved in handling large amounts of it.

Perhaps one factor at work in the decision of Whole Foods to quit accepting checks is that over the years fewer and fewer people have been using them for the purpose of in person purchases. Checks are less convenient for both purchaser and merchant, but many older people are rigidly set in their ways, and these would be precisely the people who are afraid to carry cash. And that special equipment that reads checks and takes the amount out (making the written check somewhat like a debit card) must cost something, which is why not all (even quite large) merchants have it.

Some people lack the discipline to use credit cards responsibly. Some of those who have recognized that about themselves have stopped using credit cards in the normal course of events, reserving them for emergencies.

Change, the only constant. And some people adapt to it with great difficulty.
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Old 11-04-2011, 10:59 PM
 
7,513 posts, read 11,306,806 times
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Quote:
Originally Posted by ragnarkar View Post
I kinda despise it when someone hogs the line by writing a check..
I was using the self checkout when I used my checks. So there wasn't much of a line. Like I mentioned people should partially have their checks filled out before entering the store. That'll save time in a line.
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Old 11-05-2011, 01:55 AM
 
Location: where you sip the tea of the breasts of the spinsters of Utica
8,298 posts, read 14,114,363 times
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And fill out the register AFTER paying. That's what seems to take them the longest time ..... searching for the register in back of the checkbook, slowly filling it out first, then turning their attention to the check .... slowly filling it all out while asking several times for the amount to be repeated ..... slowly reaching for ID but not finding it at first ..... then sometimes the manager has to be called from the back of the store to OK it .......

It's understandable if the bank card can't be used for some reason, but a lot of those people seem to use checks habitually, just the same unhurried way each time.
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Old 11-05-2011, 02:31 AM
 
24,488 posts, read 41,010,427 times
Reputation: 12919
Quote:
Originally Posted by Escort Rider View Post
I didn't realize that, but it stands to reason. So any payment modality except cash (bills out of our wallets) will involve a cost for the merchants. In that connection, note that the legislatively mandated reduction in the debit card transaction fees paid by merchants to the banks was just that - a reduction, not an elimination. Merchants are still paying a transaction fee on every debit card swipe, just lower than before. And maybe even cash has its drawbacks, namely the security issues involved in handling large amounts of it.

Perhaps one factor at work in the decision of Whole Foods to quit accepting checks is that over the years fewer and fewer people have been using them for the purpose of in person purchases. Checks are less convenient for both purchaser and merchant, but many older people are rigidly set in their ways, and these would be precisely the people who are afraid to carry cash. And that special equipment that reads checks and takes the amount out (making the written check somewhat like a debit card) must cost something, which is why not all (even quite large) merchants have it.

Some people lack the discipline to use credit cards responsibly. Some of those who have recognized that about themselves have stopped using credit cards in the normal course of events, reserving them for emergencies.

Change, the only constant. And some people adapt to it with great difficulty.
Just to be clear, banks charge for cash deposits as well. The only thing that's free is electronic transactions.
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Old 11-09-2011, 07:27 AM
 
Location: Vallejo
21,676 posts, read 24,828,364 times
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Quote:
Originally Posted by stantheman78 View Post
Right. For a surcharge of $5 a month.

Somehow I doubt the wholefoods shopper cares about $5 a month. I mean, they are shopping at whole foods.
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Old 05-22-2012, 02:45 PM
 
155 posts, read 346,822 times
Reputation: 350
This thread has been a fun read. I get a kick out of the type of people who are so self centered that they think my method of payment should be what is more convenient for them and not myself.

<sarcasm>
Shoot me the death glare, I don't care. Say something to me, I may remember the four inch stack of coupons which I forgot to redeem. Or maybe I should pay partially with cash, partially with a check, and partially with my debit card to make everyone happy. What was my PIN, again? It may take three swips of the card to remember. After all this trouble, maybe I should just put it all on my credit card. Let's see, where did I leave it?

But what I really enjoy is pushing my cart full of groceries, infant in the front, and two kids holding on to my belt loops out to my car - parked in a prime parking spot - only to see a BMW quickly speed around the corner and turn on their turn signal to claim my spot even before I make it to my car.

I chuckle to myself thinking you must not have any clue as to how long it is going to take to buckle three kids into their car seats, give the infant his bottle, empty this cart, and return it to the cart return.

Honk your horn? I guess I should check my text messages and voice mail before I leave - I wouldn't want to get a ticket for doing so on the road. Wait a minute, do I smell something? Oh no! The infant needs changing. Better do that so he doesn't sit in it and we don't smell it the whole way home. Now where did I leave the diaper bag? Oh yeah, it's under all of those groceries in the back. I guess I'll have to unpack it first. Let me go get a shopping cart.
</sarcasm>

For every action there is a equal and opposite reaction.
--Newton's second law of gravity and my law for dealing with self-centered people.

Last edited by tgauchsin; 05-22-2012 at 03:50 PM.. Reason: grammar
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