Direct Deposit, Governments, and the Banks
Just a little while ago, I got news that a relative of mine will have to direct deposit his Canada Pension Plan cheque, as no more cheques will be issued after a year or so. I have many older relatives near the 80 ish age, while the majority do opt for direct deposit, there were still a healthy minority opting for a cheque in the mail. They were all told that this is due to the savings that are necessary to reduce paper, energy, and probably manpower costs at the government mailing department. While a mailing may cost 88 c, direct deposit costs probably around 13 or so cents ( http://www.seniorlivingmag.com/articles/2013/04/canadian-government-is-phasing-out-printed-cheques). Millions can be saved, so the government says. But, to a principle of point, they are also giving direct deposit only to banks, credit unions, also. Where a person can understand the expediency of direct deposit ( Yours truly goes that way too), because most companies will only pay through that m...