Word: checkless
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...month, customers equipped with personal computers and telephone modems could tap into the bank's electronic ledgers and handle many of their banking chores from the comfort of home. Chemical viewed it as both a high-tech lure to draw new customers and a strategic first step toward a checkless, cashless future...
Citibank is still innovating, currently most aggressively in electronic banking-a field that gives promise of eventually creating a "checkless society," in which funds are switched easily and automatically from one account to another. While that prospect is far in the future, the bank's Citicard system is spurring some interesting changes right...
...interest that the Fed charges member banks for borrowing-from 4% to its present 41% in December 1965. George Mitchell, 63, onetime director of finance for the State of Illinois, holds that the Fed may need a whole new set of monetary weapons to deal with tomorrow's checkless society, which will be managed by "a monetary cyclotron built from a network of computers...
...three-possibly even two out of three-is in a good enough economic position for card ownership. Thomas W. Gormly, senior vice president of the Pittsburgh National Bank, predicts a new era of credit-card merchandising, believes that the U.S. is already a "long step toward a cashless and checkless society." Dags, a chain of 19?-hamburger stands in Seattle, thinks so too. Recently it printed its own garishly embossed credit cards and sent them to 500 leading citizens. The cards immediately became Seattle's newest, if ephemeral, badge of status...
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