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Sign up with Google Sign up with FacebookQ: Why do people not use checks to pay for stuff here?
12 years 35 weeks ago in Money & Banking - China
I just asked my wife to no availe.
but im guessing it's because it is to easy to fake.
Checks are just not a Chinese banking phenomena. I have never, ever even seen one in all of my years here. Perhaps they do exist, but I surely haven't seen one. When I first came to China, it was a cash-only society basically. Then people began using debit cards in some places (and this is still not univeral practice) and then credit cards became available for some. Wire transfer and bank transfer remains a very means of doing bigger business, at least from what I have seen.
Thinking about it, in all my years in line at the Bank of China, I have never seen anyone deposit a check.
Maybe they just skipped the whole check thing, from cash straight to a credit society. Besides, it's easy enough to go to the ATM and draw out cash. Checks would take too long, and you know how the banks are. It would be days before they'd see their money, and I don't think they'd be too fond of it.
I'd guess because they would be too easy to forge/reproduce/fake.
Anyone who handled the check would have access to way too much info, from the store clerk, to the ones in the store who would deal with or deposit the check and beyond.
Most places in Puerto Rico wont take cheques either. Too many "without funds" cooled us to accepting cheques.
Cheques? No one in their right mind in any kind of business would ever accept a cheque. Cheques bounce.