Sunday, August 24, 2014

Automatic Deposit

It’s a hot Sunday morning and all the decent people are in church (personal joke). I’m sitting, in my truck, in the outer lane at a bank drive-through to take advantage of the shade. For some reason, they took out the equipment in this lane, so it now serves only as a pass-through when the bank is open. Since the bank isn’t open on Sundays, I figure that I’m not bothering anyone sitting here.

The ATM is mounted in the actual wall of the bank, which probably makes it easier and safer to service. It’s doing a bang-up business today. I suppose the folks driving through probably have automatic deposit and need a little cash. I suppose it might be a good plan for folks with slight self-control problems. There IS no good plan for folks with NO self-control, except to grow up.

My mother worked in bookkeeping for several years at one of the local banks, and told me a lot of horror stories about automatic deposits and withdrawals. She never had it herself, which should tell you something. Of course, many folks have no choice in the matter these days, as their employer makes it the only option available. If that were the case, I’d probably empty the account of the bulk of its contents at the earliest possible second. Automatic withdrawals are, by far, the most troublesome, with even many supposedly legitimate businesses doing things to circumvent a held payment when there’s a dispute.

I realize that such things are a convenience for some folks, especially those who travel a lot. Personally, I believe it’s another sneaky step in edging us toward a cashless society. As for me, call me cranky, but I’ll handle my own money, thank you, if only to aggravate the powers that be. © 2014


Sunnybrook Farm said...

When the economy crashes the only use for a credit card will be to try and break in a locked door with it as some locks will pop open if a card is wiggled just right on the bolt. Anyway the government will have instant control of the money if we go to cashless, it will force an extremely profitable black market (I guess we will be racists if we call it that) but new hard currencies will evolve.

Ralph Goff said...

I don't do that automatic deposit or withdrawal idea for my money either. Although I have to admit that I don't handle much cash anymore. Mostly debit card or cheques and at the price of cheques I am leaning more toward plastic all the time.

Gorges Smythe said...

As you know, SF, black market cash and trading is exactly why the government wants to go cashless in the first place. They're afraid there's something they could tax that they're missing.

Though I have one, I don't like credit or debit cards either, Ralph. Guess I'm a bit of a financial Luddite.

Kathy Felsted Usher said...

My employer offers only direct deposit, good in some ways but bad in others.

Bob Mc said...

As you say, sometimes you have no choice. People on Social Security is an example. Checks are no longer sent by mail, and haven't been for a long time. The only automatic withdrawal I use is for my medical insurance. I wouldn't want my insurance to be cancelled because I missed a payment while I am in the hospital for one reason or another.

Gorges Smythe said...

Like most things I guess, Kathy.

That WOULD be a bitter irony, Bob!