Should be T+2. Cheques ni T+4?? Should also come down.

How much is an rtgs 4 a million?

500/- but the annoying part is having to go into a branch to do it. Whether this means sending someone there or going by yourself!

Please note I think the 'risk' of fraud is HIGHER with an RTGS

1) My chqbook is in a safe place. I do not leave it lying around. My letterhead can be copied by a good color photocopier OR printed in a River Road shop!

2) There is a NUMBER for every chq. It is [or should be unique] so easy to keep track of. Most accounting software uses the concept of paying by chqs [i.e. a unique number]. How unique are RTGS instructions?

3) I can 'STOP PAYMENT' a chq if there is fraud i.e. missing chq, non-delivery of goods, etc

Anyway, KShs 1,000,000 for many businesses [& individuals] is NOTHING to write home about with the inflation we have seen! Only 500 TranCentury shares!

VVS cheques are on their way out. In Britain by 2018. I hope Kenya follows soon. I agree with K22. Hii mambo ya kuweka kakitabu tuache. We need to adapt

I do not like the charges associated with the RTGS. 500/- per Million sounds minimal but the cost with the delivery [send to Bank or go there myself] is painful!

Also the RTGS has more paperwork for me than a cheque!!! Thus moreconvenient to pay someone by chq!

M-Pesa/Zap = Max 100,000/- & pricey
Debit Cards = Max 30,000 [on mine]. There is a fee per use.
Credit Cards = Well... It is a credit card & some establishments charge a use fee or add 5%
RTGS = Hassle!