‘We no longer accept cheques’ and other observations from continental Europe

Abstract

I was working last year at the European Central Bank in Frankfurt. My work involved helping to develop a unified European payments market, and I was myself able to benefit from the fruits of unified payments. For instance, I did not open an account with a local bank, but managed my payments easily from my Finnish bank account using the Internet and mobile banking. My salary was paid into my Finnish account, from where I paid my rent and other bills without difficulty.