But the dust bunnies are with cheques. There is no bounce risk with a bank transfer. There is no identity risk. The money goes or it doesn’t. There is fraud risk, money laundering and terrorism etc. “risk” (airquotes because, HSBC) But most of the shit it is gone with a bank transfer.

The problem is poor people would need to pay for their bank (as banks need to make money other ways and from the middle class that will be credit cards and mortgages etc.)