Checks. It takes me back.
Didn't most mail order places taking checks have a three week waiting period to see if the check cleared?
I know that I still take checks. I took a check for $700 about a week ago from a guy standing in front of me. I deposited it about 15 minutes later using my fancy phone app. The next day my bank said it accepted it. And if I don't hear anything more in a few weeks, I guess that transaction is complete.
Checks under $50: a 50% failure rate. It seems I learn more about banking than I ever wanted to learn. So when a check arrives, I get a sense of dread. Will it work? Will it go through? Will it turn into three hours of talking to bankers?
My guess is that in the next two years there will be something
online that is ultra fast/easy/reliable.
Lisa, might there be a digital thing in the future you would be comfortable with? If so, what might that look like?