Payment methods ... the good, the bad and the ugly
Consumer journalist Wendy Knowle speaks to Bruce Whitfield about the good, the bad and the ugly of the rapidly changing world of payment trends.
When I started as a consumer journalist in 1998 and for the next few years I used to go to seminars about cheque fraud and tell my readers about how to avoid it.
Wendy Knowler, Correspondent - Consumer Talk
She says most banks are on a mission to discontinue issuing cheque books. The downsides of cheques are fraud and costs.
It is expensive to issue or bank a cheque. For example, to deposit a cheque can cost well over R100. But a lot of old people are willing to do it because it's very familiar. But there is a dramatic reduction in usage.
Wendy Knowler, Correspondent - Consumer Talk
Now we have the issue that service providers are not accepting cash for health reasons because of COVID-19, which is interesting. I've had a lot of queries about that.
Wendy Knowler, Correspondent - Consumer Talk
Listen below for the full interview...
More from Business

'State-sponsored corruption should outrage South Africans' - Sars commissioner
'I'm infuriated!' Commissioner Edward Kieswetter says he feels the need to speak truth to power. Strong words on The Money Show.
Read More
As export sales boost profit, Distell (Savanna, Klippies) eyes Africa expansion
Despite the killer liquor bans in SA, Distell posted a double-digit profit for 2nd half of 2020 says Group CEO Richard Rushton.
Read More
Woolworths' online food sales soar, but fashion business 'disappointing'
Woolworths is not paying an interim dividend, despite strong profit increase. The Money Show interviews Group CEO Roy Bagattini.
Read More
Discovery results: 'Strong operating performance, well-positioned for growth'
Earnings were negatively impacted by exchange rate volatility but Covid-19 provisions resilient, says Group CEO Adrian Gore.
Read More
Strong recovery for 2nd half of 2020 sees Anglo American weather a tough year
'I am immensely proud of how our team of more than 95,000 people across Anglo American pulled together' says CEO Mark Cutifani.
Read More
Sars plans to tax retirement funds if you leave SA, target offshore assets
The proposal to tax retirement fund members when no longer tax-resident in SA is not unreasonable, says Prof. Osman Mollagee.
Read More
Med scheme covers chemo treatment but not weekly Covid test required by hospital
Consumer ninja Wendy Knowler follows up on the case of a patient who'd been paying his membership dues for more than 40 years.
Read More
No tax increases: A 'good news' Budget but SA not out of the woods
'We owe a lot of people a lot of money' says Tito Mboweni. Wide-ranging reaction to Budget 2021 on The Money Show.
Read More
Facebook and Australia, what it means for the rest of us
Will the deal with Australia help publishers around the world?
Read More
How much more alcohol will cost you after Mboweni's 2021 Budget Speech
Once again this year, you’ll be paying more for your sins.
Read More