Sylvia Porter checkless society column—1972
JT i I i a I Sylvia Porter To a Checkless Society It's October, a new month, the bills are starting to roll in, and within the next 10 days I'll write checks on the household account to the grocery store, meat market, cleaner, laundry, drug store, telephone company, florist, at least two or three department department stores, etc. . Simultaneously, my husband will write checks on a separate separate account to the landlord, telephone company, garage, liquor store, newspaper delivery agency, at least two or three restaurants, restaurants, perhaps some department stores" and an insurance company, company, too. . - In time, we spend a couple of hours each month doing this. In money, stamps alone average $2 a month often more, rarely less and even the en- en- and a of you . t - n'-j n'-j n'-j cost money. Also, it's a bore chore as millions surely will agree. ARE THERE ALTERNA-TTVFS? ALTERNA-TTVFS? ALTERNA-TTVFS? Yes- Yes- And increasing numt..j of them are emerging. emerging. If you know how to use your credit or bank charge card with prudence, you can quickly cut this time-consuming, time-consuming, time-consuming, time-consuming, check-consuming, check-consuming, check-consuming, stamp-consuming stamp-consuming stamp-consuming burden. Simply use the card wherever you can: Gas station, store, restaurant, etc. Instead of receiving individual individual bills from each of these businesses, you receive one monthly charge card bill that you can pay witn one cnecK and one stamp and at NO INTEREST provided you settle the account within the billing period. This quick settlement is the must. Check and see whether your own bank or savings institution institution or others in your neighborhood will automatically" pay your regular bills out of your checking or savings account. An estimated 2,500 full service banks alone offer this paying service for such regular bills as quarterly insurance premiums often at no charge. Consider buying and using the Supercheck an oversized check which you can use to pay as many as 45 regular monthly bills. Some 500 banks from coast to coast offer this service, usually for 50 cents a supercheck which amounts to., a substantial saving considering the number of individual checks and stamps you'd use otherwise. TDn that one check, you write the figures you want the bank to pay each of several merchants, up to 45, attach the bill stubs, send the whole thing . to the bark to handle. V Or look for an institution offering special checks (called by-the by-the by-the trick name Date 'n Sign checks) for variable monthly bills already stamped to the creditor. - . : NOW THE NEWEST, most dramatic bill-paying bill-paying bill-paying crutch another major step toward an eventual checkless society is the electronics funds transfer. City National Bank in Ohio ran i a test of this in Upper Arlington, O., and several other banks . including Hempstead Bank on Long Island are also field testing similar projects. . The way it works is this: You go into a department store, , a pharmacy or similar place, make a purchase and have the store collect through your bank. You have a special customer 1 card (electronic funds transfer) that you give to the store clerk. The clerk in turn writes up a sales ticket and puts the card in an electronic card reader. Computers linking the store to the bank arrange to transfer the funds from your (the customer) customer) account to the store (the seller) account.