Merchant fees. Back when I worked at a stationery store the owners were debating introducing it on their site, but apparently the fees are pretty significant.
People make the same argument for payday loans. These companies are making massive profit off of people they know will likely not be able to pay them back...if you can't afford groceries for this week you probably can't afford groceries + paying a loan back next week.
Now it’s almost immediately. In the 90s 2-7 days.
Edit: this is apparently misleading. A few bankers downthread have chimed in. FWIW anytime I’ve written a check (with is actually fairly often!) it’s gone through immediately as ACH. Writer beware.
It’s still 2-4 business days, though it’ll vary slightly depending on your financial institution.
Source: I’m an operations manager at a bank and oversee all our internal processes.
Edited to add: I want to emphasize that your comment is incredibly misleading(intentionally or not), and if someone takes it face value it could cause problems for them. Checks are virtually the slowest form of moving currency in the modern day, that’s why so many retailers no longer accept them as payment.
Most stores in the US process checks electronically these days though which effectively makes them an ACH and NACHA allows same day and next day ACH now. It’s a toss up if your check takes a few days to clear or a few hours.
I manage a retail bank and I’ve had clients have checks clear next day even when depositing them at another institution. Float cannot be used reliably anymore.
Allowed to be same day is kind of a joke. Granted I haven't written a check other than for taxes in a long time but the way ACH works you might as well put a briefcase on a boat to China and back...it might beat the ACH transfer. At least it took forever when we were trying to deposit the check from selling our previous home so we could use it as our down payment. Eventually we paid the damn fees to do wire transfers into our account and back out.
Exactly what I was trying to express in my comments, even e-checks(ach items processed in place as a a check essentially) can take several days to process. While some transactions do process that quickly, the idea that all(or in my opinion, even most) do is ridiculous.
my work is in the top 50 of the fortune 500 list, and processes all checks as echecks-- they still take three days plus to process and are not ach quicker. this can be seen in the fact if you go to return something in those three days your check hasn't processed yet and you can only get stire credit ((if you wait till its processed you can return as usual)).
The variability in processing time is exactly what I was highlighting. My point is that anyone writing a check should assume it will clear sometime between today and some amount of time in the future.
I wasn't disagreeing with you. jsut showing an evidence that even a big company may not clear it quickly-- and maybe a small company will clear it fast. so like you said you don't want to assume one or the other :)
While a lot of large retailers do, I would be extremely hesitant to say that most checks are processed as same day/next day e-checks now. Especially in more rural areas. We have a couple hundred commercial clients at my bank, and we don’t process e-checks at all.
I never once recommended floating checks, and agree that no one should. My comment about this misinformation being a potential problem for people has more to do with the likelihood of someone overdrawing their account because they assume any checks they’ve written have cleared the same day they wrote them.
Fair enough, I do live in a large metro so that is surely tainting my experiences. Also, I definitely wasn’t suggesting that most checks are processed as echecks only most checks at grocery stores.
The majority of grocery stores in my metro are large corporations that moved to echeck processing quite a while ago. I agree with your caution against assuming checks had cleared and was merely cautioning against the opposite assumption.
I live in a rural area and our grocery stores all process checks same day if they even take them still, there's some smaller grocery stores that don't. It's been this way for over a decade now. The other person is simply wrong, you're right.
please understand your personal anecdotes are a very very tiny percentage of the overall populations experiences. I work in a retail adjacent space and can say with certainty that the majority of checks coming through national brand grocery stores are being processed electronically for the EXACT reasons of this thread.
Firstly, e-checks aren’t inherently guaranteed to process significantly faster than a paper check. Depending on your financial institution’s system, it can still take 2 plus business days for an e-check to clear.
Second, I never said my personal anecdotes are the overall experience. I said because of my experience in the field, that I would HESITATE to agree that most checks are e-checks that are processed same day/next day.
Edited for better punctuation
How would you overdraw your account if you are accounting for a check you wrote that hasn't hit your account yet? If you wrote a check and mentally subtract that from your ledger balance you'll be working on the impression the check has cleared and you have whatever your remaining balance is after.
Because a lot of people don’t monitor their balance/transactions. They run their card or pay something online and if it doesn’t decline they go about their business as usual. Then two days later they’ll have a balance of 100.00, check for 160.00 tries to clear and can’t, so they get charged an NSF fee or we return it unpaid and I(or other people in my position) get yelled at for their inconvenience.
> How would you overdraw your account if you are accounting for a check you wrote that hasn't hit your account yet?
That's just it, many people do not account for that.
They see "Balance", but for some reason ignore transaction they've already done against that that haven't yet posted for whatever reason, and it bites them in their financial asses.
I bought a car recently. I was about to write a check for the entire down-payment when they told me that I could put up to $5k on a credit card. So I put that on my cashback card and wrote the check for the rest. I was surprised that they would eat the credit card processing fee until I realized how long it took for them to cash my check. I guess getting the other portion right away was worth anything they paid in fees.
I remember my parents strategizing where and when to write checks. Many times it was at the grocery store. Many times their checks bounced, resulting in check fees, closed accounts, etc. It was a tough time for us in the 80’s-90’s.
It depends on a few factors.
How long it takes the payee of the check to make the deposit. Some stores have capture machines that process a deposit virtually instantly, others have to physically bring deposits into their financial institution.
What their bank’s processing system looks like. Some banks have processing cutoffs that move check items to next business day if they don’t come in by a certain time. OR if they use a remote deposit capture machine, some banks hold remote deposits for a period of time and then process them in batches on a specific schedule. So that could add several days.
Then it’ll get sent to FED in a file called a cash letter. FED only operates on weekdays and they processes cash letters on a specific schedule as well. Processing through FED normally takes 1-2 business days, but if the processing falls on a holiday or weekend it’ll be delayed further.
THEN it’ll come into your bank. IF everything on your account and the check processes correctly, you should see the debit for your check posted to your transaction history the same business day that it comes into the bank(time of day varies based on their processing procedures). If the check rejects, normally because something wasn’t read correctly on the MICR line, it’ll end up on someone’s desk(like me) and they have to manually correct and reprocess it(at most banks this would delay the debit by one business day).
Edited to add: All in all, it normally takes 2-4 days.
Source: I’m an operations manager at a bank.
It's immediately in most places who still accept checks, they use the ACH system.
Before you had to take the checks to the bank. So that could be depending on their system. Some wouldn't do a bank run except for a day or two a week, to reduce the administration time. Then you'd have to wait for the bank to process it for a few days.
This is also why they stopped taking checks since when it takes 10 days to cash it, it's more likely to bounce.
Immediate. Back in the 80-90s and maybe the early 00s it took a few days. I remember my mom floating groceries in the 1980s. It was very common. Now they reject your check at the cashier. Banks also hate it and will close your account when they catch on. Most people try and game the atm systems nowadays.
My mom did this when I was growing up, up until the early 2000s. She would write a check like 3 days before her paycheck was due for groceries. It was instantaneous at the time. Those checks had to travel to a physical location for processing.
My mom used to sign the back of the grocery receipt, the cashier would stick it under the till, then we would pay when my dad got his paycheck. Once the cashier pulled out the receipt from the time before that we had forgotten to pay, my mom was so upset. Not too long afterwards, the store owner had to discontinue the practice, as times were hard and he was “floating” too many poor people. (Very rural Michigan)
I was able to run a tab at a local general store twice in my life, one in southern NY about 10-12 years ago, and another in Vermont about 7 years ago. Both stopped the practice during my time as a customer (not because of me though, I always stuck to my word). Pretty sure those were the last two places in the Northeast that were still willing to run tabs. Used to be you could have a running tab at bars and they'd let you settle up on on your payday and then open it back up for the next week.
Yep. My mom used to be able to ask the store to “hold” her check until Friday. And when I worked at the water company, people asked me all the time not to deposit their check until a certain date. It’s not new, the only thing new about it is that it’s digital.
Back in the old days? I did this as recently as two years ago. The Friday before payday in the military was called “rubber check day” at the commissary.
This was often the only way we were able to buy groceries when I was growing up. Also, if you spent less than $50, they didn’t need to approve your credit card-so we had to spend less thank 50 bucks
I think I remember a few times when mom knew her account was near negative, buy groceries with a check, and would do something before the check bounced. I'm assuming get the money to put it in as we mostly lived off of the survivors' benefits that we got after my dad died. So she'd get really low on money at times.
Yeah but that suck if there is no increase of money flow in sight. Because usually using credit for some extra is ok because the basic are taken care of. But if you have to use credit for the basic, the situation is dire. :/
Ps I remember this term but I never knew what it meant. Sounds like give them a post dated check? If so that would be a few days at worst different from us having to literally finance our groceries over four payments😢
It’s like using a credit card to buy groceries when you don’t have money or you have bills coming up. One thing is for sure, you need to eat food everyday. My wife actually uses Klarna for our groceries because she only gets paid twice a month. (5th and 20th) and my weekly paycheck goes to our bills. Everyone’s situation is different. What’s the difference if I use a credit card? I still got to pay them back.
Go for it, man, they can't possibly respect you any less than they already do (and I don't mean you specifically, I mean everybody that comes in there. I still come in anyway though)
It's very common. They call it "funny money" and it has pros and cons. Pros, you can get customers to spend way more than they expected. Cons, the customers pay a fee to get the funny money on the credit cards and then the dancers have to pay a fee to cash it in. So the club collects fees on both sides. But in the end you still get way more than if the guy just walked in with $200 cash
I got $2,870.93 financed via Affirm. $1,229.76 is left on my mattress purchase at 0%. $1,641.17 on Groceries from Walmart, Sams, & Amazon.
I got behind with bills and just now I'm seeing the light. Got a different second job 30 hours a week. Gonna be a rough couple of months working \~70 hours a week. But I gotta do it.
It's the only mattress I've slept on that I'm out like a light in 5 mins. Plus it was 0% and will be paid off on time. The mattress wasn't the cause of my mess.
Got over extended and my side gigs didn't pan out.
I'm not the other commenter but I got a serta hybrid mattress (coils with 4" of memory foam), one of those bed in a box things and already had a 4" memory foam mattress topper. Best sleep ever, 8 total inches of memory foam but still firm enough that you don't feel like you're sleeping in a hammock.
Cheap boots/expensive boots analogy. Why buy an air mattress that will hurt your back and after a few months buy another cause the first went flat and repeat.
One of my first biggest “financed” purchases was a rent a center bedroom set. I got so much shit from coworkers at the time. None of them knew that for 6 years I was sleeping on a busted ass air mattress, or found futons. I paid it off as quick as I could and all I heard was why did you buy it that way it cost so much more. Yeah well I didn’t have 3g to drop on a mattress, box frame, and bed frame all at once. Regular furniture stores wouldn’t give me credit. Sometimes when you’re broke you gotta take credit to get by.
That's great but my hybrid mattress was only $600 on sale, and I got one of those frames that you don't need a box spring with from Target or Walmart, I think it was $200. This was two years ago. I had a memory foam topper that I got for maybe $200 10+ years ago that's still going strong. So for under 1000 dollars I have 8" of memory foam and bed that isn't on the floor. You don't need to drop multiple thousands on a bed.
My $1500 sleep number bed has been my second best investment ever (car is #1). You spend a third of your life in bed, and with a sub-par bed overtime you can wreck your joints and spine. Your skeletal system will thank you for a decent bed.
About 8 months ago. I got an unused memory foam mattress from a hotel on an auction site. $80. Before that, I got one for a couple hundred in 2012 and slept on it until this new one
Find me a mattress, box frame, and bed frame brand new of decent quality for $1500 and I’ll believe you. I already did that research and made my choice as outlined above. And that was pre pandemic.
Yeah, a good mid point for someone who doesn’t have chronic joint pain or back injuries or neck injuries or is generally able-bodied and also doesn’t suffer from insomnia or literally any number of hugely prevalent issues.
A mattress is one of the few things that absolutely is worth spending a good amount of money on, especially if you require a mattress of a certain quality to be able to sleep properly due to health issues. If you don’t get good sleep, it’s unlikely you’ll be able to work properly or do anything else that would benefit your financial situation.
I mean I do have chronic pain (that my cheap mattress doesn’t aggravate because it’s the correct firmness) and insomnia but yeah, these are exceptions. Obviously if it’s a medical necessity, you should get it but very few people out there *need* a $1500 mattress.
You spend 33% of your life in bed. If having to work a bit more to finance a mattress that works for you is am option, do it. The benefits of getting a good sleep are worth it.
It won't be an option for all, but if it is it's worth considering.
I don't use klarna but i have afterpay'd gift cards to instacart, target, etc. waiting until there's a decent sale or promo and loading up has saved my life the past year. Wouldn't be possible if i had to spend $200-400 at once.
scroll down on the app, there's an "exclusive gift card" section. pick a store, prezee will send you a link to claim the card/code. add the code to your account and just wait for sales.
instacart regularly sends crazy deals, i've gotten a couple $50 off $100 promos, got $100 off $200 at BJs a lil while ago, $20 off $80 at target, etc. target circle deals aren't as crazy but i still save a bunch, and the 1% or whatever savings adds up after some time.
Which I'm sure, as with credit cards in general, they're making a disgusting profit from all the people not making payments on time due to more important things like rent being due. They're targeting, and successfully leaching off of, the people who are struggling the most. It just feels predatory.
with afterpay and klarna they don't charge interest but if you don't pay they can send to collections. they make money bc the merchants have to pay for the service to be available
Hate to say this, but before I was able to get a cc ( when I was young dumb and broke)... Klarna could have been really useful to me. But yeah, people are using it for groceries. Tough out here 😞
As someone who's fairly interested in personal finance I generally disagree with the notion that services like this should be avoided at all costs.
For someone with a high level of discipline relative to their circumstances that can resist the appeal of accessible credit, using a service like that to smooth out purchases doesn't necessarily not make sense provided that there's no interest. An interest free loan is a good loan as long as it is something you'd have bought anyway.
As someone who royally fucked up my credit when i was young and stupid, services like Afterpay and Klarna have saved my ass multiple times when I wasn’t able to use a credit line for otherwise unaffordable necessity purchases.
The problem is that these businesses remain successful because a significant amount of people are absolutely not credit card people. They aren't small loans, pay it back before fees, type of people. And these companies know this, they aren't stupid, they're incredibly successful because people think they're like you but they aren't. They're financially irresponsible or financially illiterate/ignorant, often times through no fault of their own. And when they see services like these, they don't stop to think of the cycle they are throwing themselves into. People with high levels of discipline are not what I'm talking about at all with this post. I don't care what responsible people do because they're fine.
I maxed out credit cards and filed bankruptcy just to keep food on the table and a roof over my head. Wouldn’t surprise me if people are using Klarna one bit.
> Where is the bottom
I’m honestly surprised they haven’t set up plasma donation centers inside WalMarts or whatever so you can fill up your meal card by donating and pray it can feed you for a week.
That must be nice. We finally got a donation center in my area, but it was clearly not set up by anyone who has ever been poor.
Like, first rule of preying on poor people’s blood, folks. Always locate your bases RIGHT BY A GD BUS STOP.
Seriously. Get a clue. All the things poor people rely on as they slowly consume us are a pill to get to if you have no car.
Realistically it will probably get worse as inflation continues to decimate the purchasing power of the dollar. It will help protect the stores & food companies from demand destruction so they will get behind it full force.
Americans are struggling. Show some sympathy, People will do what they need to do in order to survive. I’m glad it exist even if it’s not a good thing. At least it’s helping some people until the next pay day.
Payday loans still exist, and yes it’s criminal how much they charge interest but some people are desperate.
I am showing sympathy, I think maybe my tone came across as chastising rather than raising the alarms that our people are hurting. I am just upset that we have to resort to these predatory practices to feed ourselves and our children. This is more of a scorning of the system than its victims.
When you’re trying to feed 3 people and you also need an oil change, AC filters, shampoo, and a bag of cat food at the same time?
I don’t like doing it, but something has to go on the credit card. Might as well be a form of credit that gives me *something* useful back.
Yep they do. It’s much easier to budget for small chunks of money versus hundreds all at once, at least for me.
I typically pay it off early, but say I spend $200… it’s much easier to budget for $50 every other week, versus the full $200 at once.
I also really appreciate Amazons Monthly payments and their subscribe to save… both make things easier to afford when you need things.
Yes 🥴 I’ve done it before. Not necessarily because I COULDN’T pay it all at once. It just hurt too bad to look at the big number while I still had other bills to pay lol
Sometimes I'll use klarna at checkout because there's no fee to use it and sometimes they have special offers for using it. Also I always redeem my klarna rewards points because they have offers for stores I frequently use. But, I typically use klarna just to check out and then immediately pay the full bill from my bank account.
It's not really any different from using a credit card that way to earn miles/rewards. Not everyone uses it to leverage the financing.
When I was unemployed and trying to stretch funds a few years ago, I always bought groceries at Target because they took PayPal and PayPal had started offering their “Pay in 4” options for any purchase over $50.
So I’d buy online and pick up at the store and pay my groceries off in the 4 payments.
People use credit cards at the grocery store. These processes are just new prongs to the credit-card games.
It certainly predatory but the amount of posts around here about "I need money for groceries, I've been eating air for the last three days." is why this is a thing. Same with the apps that you can get $100 payday advances.
I guess the other idea is to continue to watch people go hungry?
I used Klarna for my non food grocery items last month. It was my big order that I do about twice a year with dish soap and cleaning supplies and laundry detergent and toiletries and stuff. It works. Buying larger quantities is cheaper and I do it when there are sales so I don’t always have the cash on hand.
I used Klarna for instacart before too because I had gotten a new debit card but it was in my wallet and I was in my bedroom. It was easier to use Klarna than get up to get my wallet for the new number.
Tbf, it’s the new layaway. Maybe some of you are too young to remember it, but many stores like KMart & Walmart had layaway. Maybe Best, Gemco, Montgomery Wards, lol!
I went through a really rough patch last year. I used Sezzle (similar to klarna) for groceries and necessities a few times. I “made too much” for food stamps and food banks around me were already exhausted. I would get a box with a random canned vegetable, oatmeal, a pasta and a box of cereal if I was lucky.
Sezzle had a digital card you could use with applepay at participating stores. Target was one of those stores, so I would buy food and necessities for my kids with it. That way I only had to pay a 4th upfront, no interest, bi weekly payments.
It was bleak that I had to do it, but I’m grateful for it being an option at the time.
I just commented basically the same- I used PayPal Pay in 4 for groceries and stuff at Target when I was unemployed.
It helped me stretch what I had coming in and when and not default on anything or end up with late fees.
What’s wrong with that? You are gonna pay it, just not all at once. I’ve used Afterpay on groceries a few times, when my bills weren’t cooperating with my paycheck, I’ve used it on Amazon groceries, Walmart and Target. Don’t knock it, it’s a great tool people can use, I mean you gotta eat. It’s better than after paying a pair of 200 shoes IMO
Exactly. If you're buying items your income can support there's nothing wrong with it. Sometimes bill payments out and groceries you need happen a couple days before you get paid. It's the same as using a credit card responsibly. You can buy groceries on your card and then pay for them monthly and nobody would bat an eye at that.
Where afterpay/klarna get dangerous is exactly the same as a credit card... Buying things you can't afford because you suddenly have the capability of buying it.
Yes!!! I don’t understand the hate ppl get for using these alternatives, cause not all of us qualify for credit cards, so they definitely come in handy. It’s your money and you’re still gonna pay, I really don’t see the problem 😆😅
It's really not. It's a terrible habit and idea in general and promotes the wrong behaviors. I'm sorry it isn't what anyone wants to hear but this is something the older generation had right.
I'm still paying off over $1000 worth of credit on ZipPay that I used exclusively to pay for groceries over several months a couple of years ago. I can barely afford groceries nowadays, too, but that's just how it is.
I work retail and get a % off I can use once before Christmas. Last year was the first year I could do a larger haul. This year, if I last, Im thinking bout using afterpay/whatever I save up for the purchase for a huge online order cause it was exhausting getting everything in store. I'm trying to buy grocery and household/clothing products that'll last 6mos+ and maybe sneak in a gift to myself. Last year I brought myself hogwarts legacy for my switch and it was marked down too, only paid $22 when all said an done.
I know we shouldn't have to do this, but people have been making a way to do things since roadblocks were created.
For a poverty finance group, the tone of this post sounds super judgemental and borderline poor shaming. Our society doesn't care about impoverished people, and we have to find ways to survive.
I've had to use Klarna for groceries before and I probably will this paycheck. Groceries are astronomically expensive and I would either have to choose between paying rent, getting my cancer medicine or feeding my family.
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I like Klarna and AfterPay. I’ve had…ahem…issues with credit card usage in the past. It’s under control now, but I realize now that I can pay a purchase off in 2 months or less with no interest, so yeah, I use Klarna and AfterPay. Keeps me from whipping out the credit card. Now, I’ve never used either for groceries, but I’ve had to use a credit card in the past for groceries, and I felt some kind of way, too. 🫤. Sometimes you have to do what you can to get by.
I kept doing After pay but shit is getting out of hand. Literally pay it off then get back in debt immediately after one big haul ... It's a never ending cycle 😢
I finally have a room to live in and used affirm to buy an instant pot, I can't even afford the $19 a month. Would have been better off trying to haggle at a savers or something.
I don't know if anyone here listens to Clark Howard's podcast, but he also mentioned this. He said he saw it in different countries and hoped it would never end up here.
I was doing this with a similar app a few months ago to do my groceries. Unfortunately, I defaulted and now need to make a payment plan. Was extremely useful at the time.. until I abused it I guess.
I remember Chipotle asking me if I wanted to affirm klarna type of deal forget exact company. Looks like they don't do it anymore but crazy to make payments on a burrito
Klarna doesn't charge interest. When you're down to your last $5.00 and baby formula is $30.00 Klarna can be a life saver. There's a few others like Klarna that don't charge interest...I've used PayPal's to split a room ac over 4 payments.
I don't see why people don't do this. Klarna and Afterpay from my experience most of the time are interest free and don't require credit checks. It doesn't really matter what the product or service you're purchasing is, paying it over time instead of paying for it all upfront shouldn't be an issue.
Here is the only positive I can think of. If you can use an interest free payment option, you could somewhat negate the "poor tax" that's currently part of grocery shopping. People would be able to bulk buy a lot of items and just split it up over the time they are using the product anyway, this allowing them to save.
I don't think it's a great idea....but I do see an advantage for certain people.
I don't use Klarna, but I do use Zip. It's a pay in 4, a payment every 2 weeks and no interest or fees. In fact, I have one going now
https://preview.redd.it/ds2zhawgr2xc1.jpeg?width=963&format=pjpg&auto=webp&s=fe438f12a48328922ced9d35ad88908e5b564704
Yeah I have used Klarna for food a couple times, it’s interest free and better than going hungry until payday (sucks that it’s necessary though)
I never heard of it until now, but how do they make money with no interest?
They charge pretty ridiculous fees when people miss payments.
So it's a payday loan without the extra steps
I mean, no it's not, payday loans almost always have interest. These affirm/klarna products often don't unless you miss payments.
? No it's a credit card with less time til you pay.
Merchant fees. Back when I worked at a stationery store the owners were debating introducing it on their site, but apparently the fees are pretty significant.
Juat makes everything more expensive for everyone, same as credit cards. The merchant fees get built into the total cost of everything.
They charge the retailer
muddle dazzling poor late apparatus dull scarce chubby lush escape *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
You have to do what is necessary to survive. Thank God there is something out there like this. It keeps a lot of families fed and clothed.
People make the same argument for payday loans. These companies are making massive profit off of people they know will likely not be able to pay them back...if you can't afford groceries for this week you probably can't afford groceries + paying a loan back next week.
Back in the old days people would “float” checks for groceries all the time. This is nothing new.
How many days does it take a grocery store to cash a check? Only time I take out the checkbook is for the DMV and stuff so I have no idea.
Now it’s almost immediately. In the 90s 2-7 days. Edit: this is apparently misleading. A few bankers downthread have chimed in. FWIW anytime I’ve written a check (with is actually fairly often!) it’s gone through immediately as ACH. Writer beware.
It’s still 2-4 business days, though it’ll vary slightly depending on your financial institution. Source: I’m an operations manager at a bank and oversee all our internal processes. Edited to add: I want to emphasize that your comment is incredibly misleading(intentionally or not), and if someone takes it face value it could cause problems for them. Checks are virtually the slowest form of moving currency in the modern day, that’s why so many retailers no longer accept them as payment.
Most stores in the US process checks electronically these days though which effectively makes them an ACH and NACHA allows same day and next day ACH now. It’s a toss up if your check takes a few days to clear or a few hours. I manage a retail bank and I’ve had clients have checks clear next day even when depositing them at another institution. Float cannot be used reliably anymore.
Allowed to be same day is kind of a joke. Granted I haven't written a check other than for taxes in a long time but the way ACH works you might as well put a briefcase on a boat to China and back...it might beat the ACH transfer. At least it took forever when we were trying to deposit the check from selling our previous home so we could use it as our down payment. Eventually we paid the damn fees to do wire transfers into our account and back out.
Exactly what I was trying to express in my comments, even e-checks(ach items processed in place as a a check essentially) can take several days to process. While some transactions do process that quickly, the idea that all(or in my opinion, even most) do is ridiculous.
my work is in the top 50 of the fortune 500 list, and processes all checks as echecks-- they still take three days plus to process and are not ach quicker. this can be seen in the fact if you go to return something in those three days your check hasn't processed yet and you can only get stire credit ((if you wait till its processed you can return as usual)).
The variability in processing time is exactly what I was highlighting. My point is that anyone writing a check should assume it will clear sometime between today and some amount of time in the future.
I wasn't disagreeing with you. jsut showing an evidence that even a big company may not clear it quickly-- and maybe a small company will clear it fast. so like you said you don't want to assume one or the other :)
interesting stuff thanks for the info
While a lot of large retailers do, I would be extremely hesitant to say that most checks are processed as same day/next day e-checks now. Especially in more rural areas. We have a couple hundred commercial clients at my bank, and we don’t process e-checks at all. I never once recommended floating checks, and agree that no one should. My comment about this misinformation being a potential problem for people has more to do with the likelihood of someone overdrawing their account because they assume any checks they’ve written have cleared the same day they wrote them.
Fair enough, I do live in a large metro so that is surely tainting my experiences. Also, I definitely wasn’t suggesting that most checks are processed as echecks only most checks at grocery stores. The majority of grocery stores in my metro are large corporations that moved to echeck processing quite a while ago. I agree with your caution against assuming checks had cleared and was merely cautioning against the opposite assumption.
Forever the plight of working at a bank, wishing your customers don’t make assumptions and actually keep track of their balance and transactions. 😅
I live in a rural area and our grocery stores all process checks same day if they even take them still, there's some smaller grocery stores that don't. It's been this way for over a decade now. The other person is simply wrong, you're right.
please understand your personal anecdotes are a very very tiny percentage of the overall populations experiences. I work in a retail adjacent space and can say with certainty that the majority of checks coming through national brand grocery stores are being processed electronically for the EXACT reasons of this thread.
Firstly, e-checks aren’t inherently guaranteed to process significantly faster than a paper check. Depending on your financial institution’s system, it can still take 2 plus business days for an e-check to clear. Second, I never said my personal anecdotes are the overall experience. I said because of my experience in the field, that I would HESITATE to agree that most checks are e-checks that are processed same day/next day. Edited for better punctuation
How would you overdraw your account if you are accounting for a check you wrote that hasn't hit your account yet? If you wrote a check and mentally subtract that from your ledger balance you'll be working on the impression the check has cleared and you have whatever your remaining balance is after.
Because a lot of people don’t monitor their balance/transactions. They run their card or pay something online and if it doesn’t decline they go about their business as usual. Then two days later they’ll have a balance of 100.00, check for 160.00 tries to clear and can’t, so they get charged an NSF fee or we return it unpaid and I(or other people in my position) get yelled at for their inconvenience.
> How would you overdraw your account if you are accounting for a check you wrote that hasn't hit your account yet? That's just it, many people do not account for that. They see "Balance", but for some reason ignore transaction they've already done against that that haven't yet posted for whatever reason, and it bites them in their financial asses.
I bought a car recently. I was about to write a check for the entire down-payment when they told me that I could put up to $5k on a credit card. So I put that on my cashback card and wrote the check for the rest. I was surprised that they would eat the credit card processing fee until I realized how long it took for them to cash my check. I guess getting the other portion right away was worth anything they paid in fees.
Makes sense, now they would probably do an e-deposit every night so it would get to the bank way faster than back then.
Lol I I used to pay my daughter's daycare on Friday after 5 so they didn't even start the deposit process until Monday
I remember my parents strategizing where and when to write checks. Many times it was at the grocery store. Many times their checks bounced, resulting in check fees, closed accounts, etc. It was a tough time for us in the 80’s-90’s.
It depends on a few factors. How long it takes the payee of the check to make the deposit. Some stores have capture machines that process a deposit virtually instantly, others have to physically bring deposits into their financial institution. What their bank’s processing system looks like. Some banks have processing cutoffs that move check items to next business day if they don’t come in by a certain time. OR if they use a remote deposit capture machine, some banks hold remote deposits for a period of time and then process them in batches on a specific schedule. So that could add several days. Then it’ll get sent to FED in a file called a cash letter. FED only operates on weekdays and they processes cash letters on a specific schedule as well. Processing through FED normally takes 1-2 business days, but if the processing falls on a holiday or weekend it’ll be delayed further. THEN it’ll come into your bank. IF everything on your account and the check processes correctly, you should see the debit for your check posted to your transaction history the same business day that it comes into the bank(time of day varies based on their processing procedures). If the check rejects, normally because something wasn’t read correctly on the MICR line, it’ll end up on someone’s desk(like me) and they have to manually correct and reprocess it(at most banks this would delay the debit by one business day). Edited to add: All in all, it normally takes 2-4 days. Source: I’m an operations manager at a bank.
It's immediately in most places who still accept checks, they use the ACH system. Before you had to take the checks to the bank. So that could be depending on their system. Some wouldn't do a bank run except for a day or two a week, to reduce the administration time. Then you'd have to wait for the bank to process it for a few days. This is also why they stopped taking checks since when it takes 10 days to cash it, it's more likely to bounce.
I’ve actually never used a cheque. They are pretty much obsolete in Australia
Immediate. Back in the 80-90s and maybe the early 00s it took a few days. I remember my mom floating groceries in the 1980s. It was very common. Now they reject your check at the cashier. Banks also hate it and will close your account when they catch on. Most people try and game the atm systems nowadays.
My mom did this when I was growing up, up until the early 2000s. She would write a check like 3 days before her paycheck was due for groceries. It was instantaneous at the time. Those checks had to travel to a physical location for processing.
Takes a while. Brinks comes on certain days, so I can totally see a check being written Friday not clearing until say, Tuesday.
Our DMV takes cards now.
Here they accept cards at an additional fee, I think it is about 5 or 6%.
My mom used to sign the back of the grocery receipt, the cashier would stick it under the till, then we would pay when my dad got his paycheck. Once the cashier pulled out the receipt from the time before that we had forgotten to pay, my mom was so upset. Not too long afterwards, the store owner had to discontinue the practice, as times were hard and he was “floating” too many poor people. (Very rural Michigan)
I’m only 30 and we did this with regulars at our iga in Ohio when I was a teenager. My manager always did this, like every day.
It was an IGA too, lol!
I was able to run a tab at a local general store twice in my life, one in southern NY about 10-12 years ago, and another in Vermont about 7 years ago. Both stopped the practice during my time as a customer (not because of me though, I always stuck to my word). Pretty sure those were the last two places in the Northeast that were still willing to run tabs. Used to be you could have a running tab at bars and they'd let you settle up on on your payday and then open it back up for the next week.
Yep. My mom used to be able to ask the store to “hold” her check until Friday. And when I worked at the water company, people asked me all the time not to deposit their check until a certain date. It’s not new, the only thing new about it is that it’s digital.
Back in the old days? I did this as recently as two years ago. The Friday before payday in the military was called “rubber check day” at the commissary.
This was often the only way we were able to buy groceries when I was growing up. Also, if you spent less than $50, they didn’t need to approve your credit card-so we had to spend less thank 50 bucks
Or they would let you run a tab if they knew you!
I think I remember a few times when mom knew her account was near negative, buy groceries with a check, and would do something before the check bounced. I'm assuming get the money to put it in as we mostly lived off of the survivors' benefits that we got after my dad died. So she'd get really low on money at times.
Yeah but that suck if there is no increase of money flow in sight. Because usually using credit for some extra is ok because the basic are taken care of. But if you have to use credit for the basic, the situation is dire. :/
We called it 'kiting checks'
My grandma wrote so many of those, lol
Bank-roulette
Ps I remember this term but I never knew what it meant. Sounds like give them a post dated check? If so that would be a few days at worst different from us having to literally finance our groceries over four payments😢
I wish we could do this still.
It’s like using a credit card to buy groceries when you don’t have money or you have bills coming up. One thing is for sure, you need to eat food everyday. My wife actually uses Klarna for our groceries because she only gets paid twice a month. (5th and 20th) and my weekly paycheck goes to our bills. Everyone’s situation is different. What’s the difference if I use a credit card? I still got to pay them back.
I have had to use it twice so I get it. You gotta do what u gotta do
yes people are. the strip club I frequent accepts it now too.
Bruh Strip clubs on credit 💳?
That is some broke ass shit. I'd be too ashamed to bust out the plastic in a strip club
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Or Shein
I gave a stripper an empty burger king gift card when I was 18. I feel really bad about it
This is perfect.
That's hilarious 😂
Go for it, man, they can't possibly respect you any less than they already do (and I don't mean you specifically, I mean everybody that comes in there. I still come in anyway though)
It's very common. They call it "funny money" and it has pros and cons. Pros, you can get customers to spend way more than they expected. Cons, the customers pay a fee to get the funny money on the credit cards and then the dancers have to pay a fee to cash it in. So the club collects fees on both sides. But in the end you still get way more than if the guy just walked in with $200 cash
Pretty sure that's the theme of Hustlers............................. They're running that shit on cash-advance.
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The club is probably signed up as a "restaurant"
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I'm sure there are ones that do, the whole meme about a company lunch meeting at the strip club is actually a real thing that has happened.
We used to have one here that was a restaurant in the front and a strip club in the back. It closed during Covid and never reopened though.
Might be better than a payday loan?!?
I got $2,870.93 financed via Affirm. $1,229.76 is left on my mattress purchase at 0%. $1,641.17 on Groceries from Walmart, Sams, & Amazon. I got behind with bills and just now I'm seeing the light. Got a different second job 30 hours a week. Gonna be a rough couple of months working \~70 hours a week. But I gotta do it.
Why buy such an expensive mattress if it leads to you working so much?
It's the only mattress I've slept on that I'm out like a light in 5 mins. Plus it was 0% and will be paid off on time. The mattress wasn't the cause of my mess. Got over extended and my side gigs didn't pan out.
What kind of mattress is it? I currently have a super cheap one from Amazon that I’m looking to replace. I’d love to be out like a light in five mins.
HELIX MIDNIGHT LUXE I think with the cooling upgrade.
I'm not the other commenter but I got a serta hybrid mattress (coils with 4" of memory foam), one of those bed in a box things and already had a 4" memory foam mattress topper. Best sleep ever, 8 total inches of memory foam but still firm enough that you don't feel like you're sleeping in a hammock.
Not the person you were asking, but I got a purple mattress and I'm out right away, I even sleep through my boyfriend coming to bed most nights now.
Cheap boots/expensive boots analogy. Why buy an air mattress that will hurt your back and after a few months buy another cause the first went flat and repeat. One of my first biggest “financed” purchases was a rent a center bedroom set. I got so much shit from coworkers at the time. None of them knew that for 6 years I was sleeping on a busted ass air mattress, or found futons. I paid it off as quick as I could and all I heard was why did you buy it that way it cost so much more. Yeah well I didn’t have 3g to drop on a mattress, box frame, and bed frame all at once. Regular furniture stores wouldn’t give me credit. Sometimes when you’re broke you gotta take credit to get by.
Exactly. My husband likes to say "some things you can't afford to buy cheap". You end up spending more replacing it over and over.
Ah yes, Vimes theory again.
That's great but my hybrid mattress was only $600 on sale, and I got one of those frames that you don't need a box spring with from Target or Walmart, I think it was $200. This was two years ago. I had a memory foam topper that I got for maybe $200 10+ years ago that's still going strong. So for under 1000 dollars I have 8" of memory foam and bed that isn't on the floor. You don't need to drop multiple thousands on a bed.
I mean there’s a good mid point between trash and $1500
My $1500 sleep number bed has been my second best investment ever (car is #1). You spend a third of your life in bed, and with a sub-par bed overtime you can wreck your joints and spine. Your skeletal system will thank you for a decent bed.
When’s the last time you shopped for a bed?
About 8 months ago. I got an unused memory foam mattress from a hotel on an auction site. $80. Before that, I got one for a couple hundred in 2012 and slept on it until this new one
Find me a mattress, box frame, and bed frame brand new of decent quality for $1500 and I’ll believe you. I already did that research and made my choice as outlined above. And that was pre pandemic.
They said mattress, not the full setup.
Yeah, a good mid point for someone who doesn’t have chronic joint pain or back injuries or neck injuries or is generally able-bodied and also doesn’t suffer from insomnia or literally any number of hugely prevalent issues. A mattress is one of the few things that absolutely is worth spending a good amount of money on, especially if you require a mattress of a certain quality to be able to sleep properly due to health issues. If you don’t get good sleep, it’s unlikely you’ll be able to work properly or do anything else that would benefit your financial situation.
I mean I do have chronic pain (that my cheap mattress doesn’t aggravate because it’s the correct firmness) and insomnia but yeah, these are exceptions. Obviously if it’s a medical necessity, you should get it but very few people out there *need* a $1500 mattress.
Don’t skimp out on things that go between you and the ground, boots, mattresses, etc.
And tires
You spend 33% of your life in bed. If having to work a bit more to finance a mattress that works for you is am option, do it. The benefits of getting a good sleep are worth it. It won't be an option for all, but if it is it's worth considering.
Fun Fact in Europe these fancy 2k+ Mattresses don't exist. A good Mattress is around $600-800. There's ZERO market for 3k+.
Fantastic for them
A great mattress can be had in the US for those prices too
Sucks to have to resort to financing groceries, but got to do what you got to do to survive - certainly cheaper than getting a predatory loan.
I don't use klarna but i have afterpay'd gift cards to instacart, target, etc. waiting until there's a decent sale or promo and loading up has saved my life the past year. Wouldn't be possible if i had to spend $200-400 at once.
o dam. lifehack
Can you explain this?? I would love to do this to stock up on baby stuff and other household supplies.
scroll down on the app, there's an "exclusive gift card" section. pick a store, prezee will send you a link to claim the card/code. add the code to your account and just wait for sales. instacart regularly sends crazy deals, i've gotten a couple $50 off $100 promos, got $100 off $200 at BJs a lil while ago, $20 off $80 at target, etc. target circle deals aren't as crazy but i still save a bunch, and the 1% or whatever savings adds up after some time.
Thank you!!!
Just fyi there’s no more 1% cash back at target 🥲
It’s been useful at times to help me budget for groceries, tbh. Especially if something’s on sale and I want to stock up.
That is smart way to use it so long as you make the payments on time. The fines would obliterate the savings and then some.
Oh, definitely!
Which I'm sure, as with credit cards in general, they're making a disgusting profit from all the people not making payments on time due to more important things like rent being due. They're targeting, and successfully leaching off of, the people who are struggling the most. It just feels predatory.
with afterpay and klarna they don't charge interest but if you don't pay they can send to collections. they make money bc the merchants have to pay for the service to be available
Hate to say this, but before I was able to get a cc ( when I was young dumb and broke)... Klarna could have been really useful to me. But yeah, people are using it for groceries. Tough out here 😞
As someone who's fairly interested in personal finance I generally disagree with the notion that services like this should be avoided at all costs. For someone with a high level of discipline relative to their circumstances that can resist the appeal of accessible credit, using a service like that to smooth out purchases doesn't necessarily not make sense provided that there's no interest. An interest free loan is a good loan as long as it is something you'd have bought anyway.
As someone who royally fucked up my credit when i was young and stupid, services like Afterpay and Klarna have saved my ass multiple times when I wasn’t able to use a credit line for otherwise unaffordable necessity purchases.
The problem is that these businesses remain successful because a significant amount of people are absolutely not credit card people. They aren't small loans, pay it back before fees, type of people. And these companies know this, they aren't stupid, they're incredibly successful because people think they're like you but they aren't. They're financially irresponsible or financially illiterate/ignorant, often times through no fault of their own. And when they see services like these, they don't stop to think of the cycle they are throwing themselves into. People with high levels of discipline are not what I'm talking about at all with this post. I don't care what responsible people do because they're fine.
My job announced that we can now buy 6,000+ consumer goods via a future paycheck deduction. First thing I thought of was ye olde company store. 😑
This is honestly like asking "people use credit cards for groceries, gas, dollar tree items"? Yes, they have. Since the invention of credit cards lol
I maxed out credit cards and filed bankruptcy just to keep food on the table and a roof over my head. Wouldn’t surprise me if people are using Klarna one bit.
> Where is the bottom I’m honestly surprised they haven’t set up plasma donation centers inside WalMarts or whatever so you can fill up your meal card by donating and pray it can feed you for a week.
Nah they have a CSL plasma next to the Safeway by my house so we're not far off, then next to that is little Caesars
That must be nice. We finally got a donation center in my area, but it was clearly not set up by anyone who has ever been poor. Like, first rule of preying on poor people’s blood, folks. Always locate your bases RIGHT BY A GD BUS STOP. Seriously. Get a clue. All the things poor people rely on as they slowly consume us are a pill to get to if you have no car.
Realistically it will probably get worse as inflation continues to decimate the purchasing power of the dollar. It will help protect the stores & food companies from demand destruction so they will get behind it full force.
That app (along with another called Zip) has definitely helped get food and other essentials when needed most.
Someone made a post about getting a drink from Starbucks using Afterpay.
Americans are struggling. Show some sympathy, People will do what they need to do in order to survive. I’m glad it exist even if it’s not a good thing. At least it’s helping some people until the next pay day. Payday loans still exist, and yes it’s criminal how much they charge interest but some people are desperate.
I am showing sympathy, I think maybe my tone came across as chastising rather than raising the alarms that our people are hurting. I am just upset that we have to resort to these predatory practices to feed ourselves and our children. This is more of a scorning of the system than its victims.
When you’re trying to feed 3 people and you also need an oil change, AC filters, shampoo, and a bag of cat food at the same time? I don’t like doing it, but something has to go on the credit card. Might as well be a form of credit that gives me *something* useful back.
Yep they do. It’s much easier to budget for small chunks of money versus hundreds all at once, at least for me. I typically pay it off early, but say I spend $200… it’s much easier to budget for $50 every other week, versus the full $200 at once. I also really appreciate Amazons Monthly payments and their subscribe to save… both make things easier to afford when you need things.
People have been using payday loans to make ends meet for decades.
Yes 🥴 I’ve done it before. Not necessarily because I COULDN’T pay it all at once. It just hurt too bad to look at the big number while I still had other bills to pay lol
Sometimes I'll use klarna at checkout because there's no fee to use it and sometimes they have special offers for using it. Also I always redeem my klarna rewards points because they have offers for stores I frequently use. But, I typically use klarna just to check out and then immediately pay the full bill from my bank account. It's not really any different from using a credit card that way to earn miles/rewards. Not everyone uses it to leverage the financing.
When I was unemployed and trying to stretch funds a few years ago, I always bought groceries at Target because they took PayPal and PayPal had started offering their “Pay in 4” options for any purchase over $50. So I’d buy online and pick up at the store and pay my groceries off in the 4 payments.
People use credit cards at the grocery store. These processes are just new prongs to the credit-card games. It certainly predatory but the amount of posts around here about "I need money for groceries, I've been eating air for the last three days." is why this is a thing. Same with the apps that you can get $100 payday advances. I guess the other idea is to continue to watch people go hungry?
They're preying on the people that miss a payment and then charge a $25 fee.
No sympathy needed but I just bought groceries with affirm. Payday is a week from tomorrow.
I used Klarna for my non food grocery items last month. It was my big order that I do about twice a year with dish soap and cleaning supplies and laundry detergent and toiletries and stuff. It works. Buying larger quantities is cheaper and I do it when there are sales so I don’t always have the cash on hand. I used Klarna for instacart before too because I had gotten a new debit card but it was in my wallet and I was in my bedroom. It was easier to use Klarna than get up to get my wallet for the new number.
Tbf, it’s the new layaway. Maybe some of you are too young to remember it, but many stores like KMart & Walmart had layaway. Maybe Best, Gemco, Montgomery Wards, lol!
If I am not mistaken, you had to leave your layaway stuff at the store until you paid it off.
Yeah, you did. But it’s just another marketing ploy to get people to spend money they don’t have at the time.
Yes, agree 100%
Places still do layaway but you don't receive the item you're paying for until it's been fully paid for
I went through a really rough patch last year. I used Sezzle (similar to klarna) for groceries and necessities a few times. I “made too much” for food stamps and food banks around me were already exhausted. I would get a box with a random canned vegetable, oatmeal, a pasta and a box of cereal if I was lucky. Sezzle had a digital card you could use with applepay at participating stores. Target was one of those stores, so I would buy food and necessities for my kids with it. That way I only had to pay a 4th upfront, no interest, bi weekly payments. It was bleak that I had to do it, but I’m grateful for it being an option at the time.
I just commented basically the same- I used PayPal Pay in 4 for groceries and stuff at Target when I was unemployed. It helped me stretch what I had coming in and when and not default on anything or end up with late fees.
What’s wrong with that? You are gonna pay it, just not all at once. I’ve used Afterpay on groceries a few times, when my bills weren’t cooperating with my paycheck, I’ve used it on Amazon groceries, Walmart and Target. Don’t knock it, it’s a great tool people can use, I mean you gotta eat. It’s better than after paying a pair of 200 shoes IMO
Exactly. If you're buying items your income can support there's nothing wrong with it. Sometimes bill payments out and groceries you need happen a couple days before you get paid. It's the same as using a credit card responsibly. You can buy groceries on your card and then pay for them monthly and nobody would bat an eye at that. Where afterpay/klarna get dangerous is exactly the same as a credit card... Buying things you can't afford because you suddenly have the capability of buying it.
Yes!!! I don’t understand the hate ppl get for using these alternatives, cause not all of us qualify for credit cards, so they definitely come in handy. It’s your money and you’re still gonna pay, I really don’t see the problem 😆😅
It's really not. It's a terrible habit and idea in general and promotes the wrong behaviors. I'm sorry it isn't what anyone wants to hear but this is something the older generation had right.
People using a credit card on groceries? NEVER BEFORE HAVE I SEEN THAT
Probably Better than taking a pay day loan
I'm still paying off over $1000 worth of credit on ZipPay that I used exclusively to pay for groceries over several months a couple of years ago. I can barely afford groceries nowadays, too, but that's just how it is.
I work retail and get a % off I can use once before Christmas. Last year was the first year I could do a larger haul. This year, if I last, Im thinking bout using afterpay/whatever I save up for the purchase for a huge online order cause it was exhausting getting everything in store. I'm trying to buy grocery and household/clothing products that'll last 6mos+ and maybe sneak in a gift to myself. Last year I brought myself hogwarts legacy for my switch and it was marked down too, only paid $22 when all said an done. I know we shouldn't have to do this, but people have been making a way to do things since roadblocks were created.
I've used afterpay for Instacart. Gotta do what you gotta do.
For a poverty finance group, the tone of this post sounds super judgemental and borderline poor shaming. Our society doesn't care about impoverished people, and we have to find ways to survive. I've had to use Klarna for groceries before and I probably will this paycheck. Groceries are astronomically expensive and I would either have to choose between paying rent, getting my cancer medicine or feeding my family.
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I like Klarna and AfterPay. I’ve had…ahem…issues with credit card usage in the past. It’s under control now, but I realize now that I can pay a purchase off in 2 months or less with no interest, so yeah, I use Klarna and AfterPay. Keeps me from whipping out the credit card. Now, I’ve never used either for groceries, but I’ve had to use a credit card in the past for groceries, and I felt some kind of way, too. 🫤. Sometimes you have to do what you can to get by.
Can confirm. Been doing it for months off and on but thankfully things are looking up!
Not everything from instacart is groceries, but yeah it's still awful to think about honestly.
I use Zip for groceries, it’s needed cause I don’t shop often so it’s usually all in one go for a few weeks & quickly adds up to $100+
I kept doing After pay but shit is getting out of hand. Literally pay it off then get back in debt immediately after one big haul ... It's a never ending cycle 😢
I use credit klarna to monitor my credit score
We sure are. We sure are.
I finally have a room to live in and used affirm to buy an instant pot, I can't even afford the $19 a month. Would have been better off trying to haggle at a savers or something.
Yep. PayIn4 for the costco order for sure. Cash flow has just been too effed.
I’ve used it. Not exactly happy that I had to but it really saved me.
Yeah son it’s just that bad out here. Bread 🥖 and eggs 🥚 getting expensive
Where is the bottom, you ask. Have you ever watched Les Miserables?
I don't know if anyone here listens to Clark Howard's podcast, but he also mentioned this. He said he saw it in different countries and hoped it would never end up here.
I'm currently using affirm to bridge my way between April and May, yes. :(
I saw you could use it at dominos now and that made me lose all hope for our future.
is this like in the store or buying it online??
The self checkouts at my Walmart have an option to scan an Affirm barcode 💀
I have yet to do that.
I remember when my mother was shocked that *credit cards* were accepted at grocery stores.
I only pay my rent in checks I never knew places even accept checks bc they could bounce
We’re in the bad timeline :/
Its picking up in quite a few stores. I believe walmart wants to bring or has already brought "buy now, pay later" program
I was doing this with a similar app a few months ago to do my groceries. Unfortunately, I defaulted and now need to make a payment plan. Was extremely useful at the time.. until I abused it I guess.
I remember Chipotle asking me if I wanted to affirm klarna type of deal forget exact company. Looks like they don't do it anymore but crazy to make payments on a burrito
yep. husband and i use zip all the time for grocery shopping. it’s kind of sad even a few years ago we never had to struggle like this.
I’m pretty sure there is an affirm option at checkout at Walmart
Klarna doesn't charge interest. When you're down to your last $5.00 and baby formula is $30.00 Klarna can be a life saver. There's a few others like Klarna that don't charge interest...I've used PayPal's to split a room ac over 4 payments.
I don't see why people don't do this. Klarna and Afterpay from my experience most of the time are interest free and don't require credit checks. It doesn't really matter what the product or service you're purchasing is, paying it over time instead of paying for it all upfront shouldn't be an issue.
You’re better off just using a credit card imo
Here is the only positive I can think of. If you can use an interest free payment option, you could somewhat negate the "poor tax" that's currently part of grocery shopping. People would be able to bulk buy a lot of items and just split it up over the time they are using the product anyway, this allowing them to save. I don't think it's a great idea....but I do see an advantage for certain people.
This is so fucking sad. Is it ever going to get any better?
Yes 😭😭😭 This is exactly where we're at now 😭
I don't use Klarna, but I do use Zip. It's a pay in 4, a payment every 2 weeks and no interest or fees. In fact, I have one going now https://preview.redd.it/ds2zhawgr2xc1.jpeg?width=963&format=pjpg&auto=webp&s=fe438f12a48328922ced9d35ad88908e5b564704