Banks and Government love to tell you it is going to be that way.

My last blurb about money and banks. I remember when I changed my mortgage at my bank, over to another bank. Also, all of my investments. The bank I was dealing with said "That is too much trouble to do that. It is going to cost you allot of money to do that". The reason for the change was that our branch was being cut. They were there with us during the good times, but during the lean years, they decided to go move to the branch in a local town 30 minutes away. Make people drive, old people, poor people, would have challenges at getting their banking done. To their credit, they did leave one ATM machine behind. Still, there is other business that cannot be done at an ATM machine. While convenient for some, these things can go out of order at times too. Not following the advice of the worker at my old bank, I switched banks. They are very persuasive, these people. Trying to say you have to take it, everyone else is taking it, or it is going to cost you big time.

So, I switched all my banking to another bank. The new bank I dealt with waived the 70 dollar costs for to switch over some of my investments. Just imagine. Charging me, my money, for to head over to another banking institution. Ludicrous. They waived it since I was a good customer, so they said.

Switching Mortgages. I had to wait until the term was up. A year from that time, or I would pay heavy interest costs. 3000 dollars interest, at that time. I waited till the end, then switched. I still had to pay the leaving bank 280 approx. dollars on their end for fees. Discharge fees? Then I had to pay my new bank approx. 600 dollars for legal fees. When first getting the mortgage done up, I remember paying approx. 1000 dollars to get the work all done up.

Now, recently I just seen two old people cash their government pension cheque. The teller told them "You know the government is going to get you to direct deposit them soon. Do you want to do that here, now?". They did not get it done, at that time.

I think about this often. Cheques, government, are issued to people that are not direct deposit. I do not blame anyone for getting direct deposit. It is simple, fast, and direct. In your account in no time. A government cheque, though, when a person receives it, you should be able to cash it in anywhere. Anytime. The government is trying to reduce the costs. 17 million, so they say. Yet give deposit rights solely to the banks. And I am sure they need those machines, as they need to write out cheques at any rate, for something, sometime, somewhere.

A government cheque should always be requested at anytime. You have the right as a citizen to a cheque, that does not have to be deposited at the bank, if you so wish not to do so. You should be able to cash that good standing cheque at a gas station, a convenience store, or anywhere you choose. It is your right. Banks cannot have the exclusive monopoly on currency exchange, payment methods, or deposit items.

You need competition, regardless if it is the non digital, or even digital. In the race to get away from paper cheques, paper money, we are giving our sole ability to transact without privacy away. And without freedom of choice. Competition has to be there, to ensure people have a choice. Choice is good, even if it costs us. Somewhere it said that the digital upkeep of data, hardware, for the debit payment ect is way more expensive than printing cash. Enough said.

Till next time, no news on the book..

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