The first time you are patiently waiting in line at the checkout of a grocery store and see the person in front of you open a book of little rectangular pieces of paper, start scribbling information on the top sheet, and then tear it off and hand it to the cashier, you may be wondering to yourself if this person is perhaps a mute, and needs a special way to communicate. This is probably not the case.
Actually that piece of paper is, in all likelihood, something we here in America call a check. Some of us still carry around a book of these, which is referred to as a checkbook, so that we can pay for items in the slowest possible form known to man. You may be wondering why people would still pay for items in the twenty-first century with these scraps of paper, but this is an integral part of the banking system that runs the biggest economy in the world. Now you can even deposit a check from someone else into your own bank account by taking a picture of the front and back of it with your cellular phone. It’s kind of like a caveman making fire by rubbing two cigarette lighters against each other, but it works for us.
Well, it doesn’t work for all of us. Depending on which side of town you are driving through, you may see strip malls filled with special shops whose primary business is to exchange checks from employers called “paychecks” into real money. If you move to this country, you should be careful to not establish a credit rating so bad that banks will refuse to give you a checking account, because these places will then charge you at least one percent of each paycheck to transform it into currency. And since you already have bad credit and are missing one percent of your salary, you’ll probably start using the facilities for their “payday loans,” where you will be charged a triple digit interest rate to cash your check before you even receive it. While it may seem like an unjust practice that could only be practiced in a third world country, it helps the parents of the kids growing up on the other side of town pay the $40,000 per year tuition that it takes to operate the best universities in the world and their basketball teams.
But our antiquated banking system is not the only thing that separates America from the civilized world, we also use a primitive measurement system based on body parts. But even slowed down by our complicated unit conversions, we can still make lasers.
Our electric power distributions lines are generally overhead, so we have poor power quality and frequent interruptions to service caused by the elements of nature, but we can string together multiple lines from multiple sources, add some battery backup, and still keep a semiconductor plant hobbling along, producing the most advanced microprocessors the world has ever seen.
Our cellphone reception coverage leaves gaping holes throughout the country, but you’re still going to buy one of our iPhones.
We still have the death penalty in place and in use, and that’s why all the heinous crime in the world occurs in the rest of the Western world, where people know that they can do whatever they want and keep on living.
So we make our homes basically out of Papier-mâché, but we provide ourselves with an abundance of cheap energy to keep the residents of the all time greatest third world country on the face of the planet cool all summer long.
Great job!
Speaking of outrageous bank service fees, Americans are good at exports. Every day I see clusters of people waiting in line at the tiny Western Union joint in the nearby train station. I’d love to tell them they’re getting horribly ripped off, that if they’d use xe.trade they’d save themselves thousands over time. Why is Western Union so popular?
First you are assuming that those people as well as the recipients have computers and an Internet connection.
Second Western Union depots are everywhere – that means cash can be received in as little as an hour almost anywhere in the world. Some places are even available 24 hours a day, seven days a week.
Third in lots of poor areas around the world (even the US) people do not have “proper identification”. Western Union lets the sender create a pass phrase so that the recipient can still receive funds. Once while bumming about in California I had discover that my wallet was stolen and the pass phrase saved me a lot of hassles.
Fourth based on your nickname it seems like you are in Germany. Those people on line at your local train station’s Western Union are probably from second and third world countries sending funds to their families back home where points 1, 2, and 3 apply.
Ian in Leipzig
Sounds much like the UK banking system.
It is all based on terribly inadequate technologies (credit card and cheques).
Banking is riddled arbitrary charges and bizarre and arcane processes and limitations.
I never knew how good I had it in good old Germany. Getting small credits is a pain in Germany and credit card providers are all stupid.
But at least every bank has transparent charges and offers you a HBCI banking API for home banking.
WhenI went to the US last time I took some Euros with me to change at a bank in the US because the rates were better. Harhar….little did I know.
“Do you have an account with us?”
“No, I just want to exchange these Euros into Dollars.”
“But we can’t do that if you don’t have an account with us. Would you like to open one?”
“Look, I am a tourist and all I want is DOLLARS for my Euros.”
I had to get my friend to come with me. He had an account with them. He handed her the money and said he wanted dollars in exchange for the Euros.
She took the money, filled out some papers and told us to come back in 3 days.
“WHAT???” Here, you go into a bank, give them the foreign currency and depending on the rate you get the Euros.
As far as checks go…if you go to WALMART and you plan on pAying with a check…FILL THE DAMN THING OUT AT HOME….JUST FILL IN THE NUMBERS AT THE REGISTER….NO CHANGE IN WHAT ELSE YOU NEED TO PUT ON THE CHECK, LADY!!!! AND DON’T PAY 1.50 WITH A CHECK EITHER…
UNBELIEVABLE. Here in Germany you pay cash, or use your bank card. All you need to know is you pin number.
Yes, our bank system is a lot better. Also when I try to deposit sombody elses check that isn’t covered I WILL NOT GET PUNISHED!!!! I just won’t get any money out.
Some things we do right here. Did I tell you that I don’t get charged if somebody calls me on my cell??? Just thought it was worth mentioning…;o)