Plastc

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Replied by FrankN on topic Plastc

Thanks for the post JGIBBS, I will keep a close eye on this.
2 years 4 weeks ago #1

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Replied by JGibbs on topic Plastc

It was a huge scandal when it first happened back in April and was highlighted as another "crowdfunding isn't a store, don't treat it like one" story.
I should have provided links to begin with FrankN., sorry about that!

Plastc's statement
The Verge
Engadget
Forbes

The best gossip and information is at reddit. Some folks have been able to get their money back. There's plenty of inside info and backstory there as well which may or may not be true.
r/Plastc
Last edit: 2 years 1 month ago by JGibbs.
2 years 1 month ago #2

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Replied by FrankN on topic Plastc

Really? Do you have any links for stories on that? Very interesting.
2 years 1 month ago #3

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Replied by JGibbs on topic Plastc

It looks like plastc has folded as of April and is exploring bankruptcy protection. The company ringleaders have been accused of absconding with $9 million bucks from backers.
2 years 2 months ago #4

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Replied by Lexie on topic Plastc

FrugalFran wrote: I can see that point. I wonder if the people who still use checks are also mailing checks to pay bills. As you said before, all of our information is online these days since most of us use online bill paying. I wonder if you use checks at stores and mail checks for bill payment (therefore not registering for online accounts with credit card companies, utilities, etc.) if that helps to safeguard the information.


I don't know of a single person that does not pay a bill or two on line FrugalFran. Except maybe my brother. He refuses to jump into the 20th century. I think there is as much risk writing checks and mailing them as there is in paying online. It just takes a little longer.
2 years 2 months ago #5

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Replied by FrugalFran on topic Plastc

I can see that point. I wonder if the people who still use checks are also mailing checks to pay bills. As you said before, all of our information is online these days since most of us use online bill paying. I wonder if you use checks at stores and mail checks for bill payment (therefore not registering for online accounts with credit card companies, utilities, etc.) if that helps to safeguard the information.
2 years 2 months ago #6

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Replied by FrankN on topic Plastc

FrugalFran wrote: I don't think so, Frank. I just see it as a matter of these people being creatures of habit. I was behind a lady at Walmart yesterday who used a check and the process is so silly because these days you don't even have to sign it. Just hand a blank check to the cashier and she runs it through the machine. I don't see how that provides any added protection.


Well I have heard the argument that you lower your risk of getting your debit/credit card information from being hacked at the store. However, I guess it is possible your bank could get hacked (although more unlikely).
2 years 2 months ago #7

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Replied by FrugalFran on topic Plastc

I don't think so, Frank. I just see it as a matter of these people being creatures of habit. I was behind a lady at Walmart yesterday who used a check and the process is so silly because these days you don't even have to sign it. Just hand a blank check to the cashier and she runs it through the machine. I don't see how that provides any added protection.
2 years 2 months ago #8

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Replied by FrankN on topic Plastc

FrugalFran wrote: I hate checks and I never have my checkbook on me. It always surprises me to see people who still write checks at the grocery store. I can't understand why they don't get with the times, but those people are definitely still out there in abundance.


Is there any additional protection of still using checks? Since your bank information is all online now, I can't really think of any additional protection.
2 years 2 months ago #9

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Replied by FrugalFran on topic Plastc

I hate checks and I never have my checkbook on me. It always surprises me to see people who still write checks at the grocery store. I can't understand why they don't get with the times, but those people are definitely still out there in abundance.
2 years 3 months ago #10

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Replied by FrankN on topic Plastc

Agree with you there. It definitely is a generational thing as well. I would love to hear if there are any 25 and younger who use checks regularly.
2 years 3 months ago #11

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Replied by Wanderer on topic Plastc

In reviewing your post, I have to say many merchants I visit no longer take checks and are tired of getting burned. Long ago I gave up carrying a check book and used electronic payment for all but he city utility bill which requires a check (talk about old school - gads). Probably write fifteen checks a year now. Do notice that many older people still utilize the check book for payment so until the Baby Boomers move along there will be pressure for checks (note age group born 1945 to 1964 - and this group is starting to reach their maximum life span now). This group includes me and I slowly switched to electronic payment and credit cards about two years ago as it took me awhile to trust the system (love it now - don't miss chasing stamps and mailing letters).
2 years 3 months ago #12

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Replied by FrankN on topic Plastc

I am really surprised to hear this. I live in a big city so that might have something to do with it as well. I am also young (under 30) so that might be playing a role as well.
2 years 3 months ago #13

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Replied by FrugalFran on topic Plastc

I have to agree with Wanderer that I don't see checks completely disappearing. Maybe in certain areas they will, but I know where I live most people don't even have a debit card for their bank accounts. My daughter takes lessons at a music center and I asked them if they could automatically draw the payment every month and they said they don't do that because 90% of their customer don't have a debit card and they won't hand over checking account information for billing. Something tells me that ten years from now those people will still be stuck in their ways.
2 years 4 months ago #14

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Replied by FrankN on topic Plastc

not cash, I was talking about only checks. I have already seen many retailers not accept checks anymore. While there may always be a small market for checks, we can already seeing it disappearing.
2 years 4 months ago #15

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