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I propose a line of checks that have inplace of the "Pay to the Order of:" blank line a series of predefined payees. These payees would be preceded by small check boxes. When filling out a check the writer would simply check off the correct payee and enter the amount of the payment.
This would
be very safe as there would be no provision to pay to anyone but one of the predefined Payee's. This would be particularly beneficial when paying bills.
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If the check-printer's cost wouldn't increase too much, you could order small bundles of checks with only one payee name printed on each. 12 for the power company, 12 for the landlord, and 52 for Miss Leela's House of Passion. |
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That's the sort of thing you'd set up at the bank: stating that account X would only go towards paying certain bills; it's not something you'd put on the face of the check. |
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From a security standpoint, why does any of your payees need to know who the other payees are ? |
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//That's the sort of thing you'd set up at the bank: stating that account X would only go towards paying certain bills; it's not something you'd put on the face of the check.// |
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The party being presented with the check has no way of verifying if the check is drawn on an account that is acceptable, this would eliminate this problem as in that situation it is the business that pays for the bad check, not the account holder or the bank(in fact the bank gets paid extra in that circumstance). |
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Ok, so the idea isn't perfect. But that's what makes it half-baked. I probably wouldn't know (or care) who the other payees were if they were listed on the check and if the account holder did not want me to know about Miss Leela, he certainly would not put me on the same list with the same account. |
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//The party being presented with the check has ...// |
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I have no clue what you just said, OTOH my writing was a bit murky, too; let me try again... |
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If you want a chequing account to be devoted to companies A, B, C, D, then that's something you set up with your bank. It's not something that should be on the chequeface. |
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Furthermore, the companies mentioned have no use for the information that you use other companies (except their marketing department of course). It's that sort of "convenience" that eventually ends up with personal information being misplaced. |
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When communicating with *people*, be as discretionary or not as you please. When communicating with a System, only necessary information should be transferred. |
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If you want to do something like that for convenience, btw, there are computer programs that will print entire cheques out, barcodes and all on any paper you put in. Of course I strongly suggest you not keep that program on the same computer that you connect with the Internet, for obvious reasons. |
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[flyingtoaster] From your comments you have never been involved in a business that accepts checks. |
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When a person presents a check to a retailer for payment, there is no way to verify if that check will be honored by the account holders bank. The retailer receives the check then sends it to their own bank. That bank then credits the retailers account with the funds then sends the check to the account holders bank. If the check is legit and there are enough funds then that bank sends payment to the retailers bank. This is a process that takes days or even weeks. If the check is not legit or there are insufficient funds then the account holders bank refuses the check. The retailers bank will then deduct the previous credited funds and also charges a bad check fee to the retailer(usually $20 to $40) The retailer then is out the fee as well as the amount of the original purchase. This is why businesses charge bounced check fees and why many businesses will no longer accept personal checks. |
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This idea would allow the retailer to know that the payment has been authorized to them. This protects against stolen blank checks being used to make fraudulent purchases and also allows retailers to be more confident that the checks are legitimate. |
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//When a person presents a check to a retailer for payment, there is no way to verify if that check will be honored by the account holders bank.// |
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In the UK you are issued a cheque guarantee card. This means the bank promises to pay the balance of the cheque (subject to a maximum limit stated on the card), even if you have no money in the account, as long as the figures from a valid guarantee card are written on the back of the cheque. |
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[jhomrighaus]... what are you nattering on about ? ... oh it's your post... okay, let's see... apart from having valid payees listed on the front of the cheque (you've just listed for potential criminals the places that will accept your cheque), you haven't mentioned any way of guaranteeing payment, so what does that paragraph on "life cycle of a cheque" have to do with it ? |
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What your post *does* sound like is a step in a controlled "life skills" programme. |
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If one can have machine washable cloth diapers, I suppose a towels would be reasonable as well. And soft! Bun! |
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