Processing a debit?

I keep a close eye on incomings and outgoings in our accounts like KjellNN. Make sure I maximize income from any money we have, especially in these dire times for interest rates. Proud to be a rate tart .  Always saved for our regular bills in a separate account and paid quarterly until got better rates for DD's.  It may only be pennies but better in my name than someone else's. I really think budgeting should be taught at school. Low interest rates won't always be available . I too am horrified at those who don't check their bank accounts. 

Cheques are still very useful. That's why there was an outcry when the banks tried to remove them along with guarantee card. I know several people who use them in a daily/weekly basis. If you have an account that earns interest a few more days in your account means a little bit more for me not everyone is happy to pay over the phone, do you really know that they don't keep the info you give them, they shouldn't but who can say??? Others don't like online or even have access to internet..........

I keep everything as simple as possible, if there is a cheaper way of making a payment I use it. I would not pay anything early although some recipients might be pleased if I did. Running complicated systems is not for me, I'm trying to think ahead a bit in case anyone else has to take over as I have had to do for my Mum.

I couldn't agree more, not checking bank statements is just daft. There is no excuse nowadays as you can check it on your phone, computer, tablet etc. I was brought up by a very money aware parent (yorkshireman) he always drummed it into us to look after our money, he would on occasions let us make a mistake just to teach us a lesson. He was not tight in fact the complete opposite, however he was very careful with what little money he had. I have tried to pass the lessons I learnt onto my boys, at times I disspaired with their lackadaisical approach to money (especially the eldest) however he is now very good at getting VFM and knowing just how much money he has at any one time. 

I regularly check our bank statements online.

That way I can keep an eye on what Mrs N is spending our money on.

It seems ages since I last used cheques. These days nearly all payments are done online or by card or through internet banking. There's no longer any need to put a cheque in the post. Also, there used to be a £100 cheque guarantee card. It seems that is no longer issued by banks either.

Malcolm, I agree up to as point, we use credit cards extensively, and have regular bills on DD, but there are some instances where a company does not take a CC or a debit  card, so the only alternatives are cash or a cheque.

In this case, the very old cheque was for a purchase I made at a woodworking show, almost 12 months back, I do doubt it will ever be presented, but I am unwilling to pay my bank a fee to stop the cheque and then contact the company to see what they are playing at.

If they are not bothered to present the cheque, or have been so careless as to lose it, then that is their loss.

The second cheque I know will be presented eventually, it is for my wood turning club subs, but it is time all these clubs moved with the times and accepted bank transfers or debit card  payments!

OH is treasurer for our local guide hall, she used to have to write a lot of cheques, but she has dragged them kicking and screaming into the 21st century and now the only ones that need a cheque are the cleaners.

They are next on her "hit list" !!

The advent of internet banking and particularly phone apps make it so easy to keep a check on bank accounts and credit cards. I do this for both myself and mother for who I have POA. At least by looking regularly I should notice if there are any irregular payments, that the bank has not flagged up. In the bad old days when statements only came once a month, or you had to go to a hole in the wall it, was more difficult. Although I don't suppose there were so many scammers. 

One thing I like to do if I pay by a credit transfer into someone's account, is to send a small test amount first and get them to confirm receipt. I did read about someone inputting an account number one digit wrong and managing to send several thousand to a wrong account, which then took some time to get back. At least by getting confirmation for five or ten pounds, I know I have input everything correctly on my phone, before I send several hundred.

One thing I like to do if I pay by a credit transfer into someone's account, is to send a small test amount first and get them to confirm receipt. I did read about someone inputting an account number one digit wrong and managing to send several thousand to a wrong account, which then took some time to get back. At least by getting confirmation for five or ten pounds, I know I have input everything correctly on my phone, before I send several hundred.

Would they get it back, I understood that if its you that makes a mistake inputting the details the bank can only 'ask' the recipient to return the money but has no powers to insist.  Its one of the worries paying by Bacs.  I do the same as you make a payment of £1 first just to check.

We do the same when we set up a new payee, send £1 to test we have it correct.