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...
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