Quote:
Originally Posted by KSig RC
For everyone talking about a "paper trail" . . . I don't get where the paper trail is missing from debit transactions. Doesn't a receipt carry just as much weight as a canceled check? Can't the bank lose or forget to send a canceled check just as an electronic copy?
I get the rent issue if your landlord is a douche, but I don't mind direct withdrawal there either (again, for the recording purposes above) - am I naive/too trusting/too Gen Y here?
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Since all of your checks are processed electronically, there isn't much more of a paper trail. They're all scanned onto servers and usually you don't get "cancelled" checks back, you get images of the check. After the processing, there's just as much proof of a check as there is of the debit.
Server problems happen, but they are backed up offsite daily. There's a limit to the amount of data that can be lost barring a big catastrophe. And even then the offsite storage is supposed to be a sufficient distance away to prevent that.