Baby boomers don't like direct deposit? Not too bright.

According to a recent survey by the US Treasury and the Federal Reserve, the baby boomer generation prefers the good ol fashioned paper check over direct deposit. The study showed that 59% of baby boomers used direct deposit versus 72 percent of those 65 or older. Of course the gov't (and many banks and businesses too) pushed direct deposit because of the cost. According to the study, it costs about 83 cents for a check to be cut, mailed and deposited, versus about 8 and a half cents for direct deposit.

I have had my paychecks direct deposited for years. You get two big advantages-
1.) Your money is always there, usually the night before payday or right after midnight on the morning of payday.
2.) You don't have to mess around with going to the bank on payday, or risking the check being lost or stolen.

I can't imagine anyone that would not want direct deposit.

You can read the story from AP via Yahoo at the link below:
http://news.yahoo.com/s/AP/20051227/AP_on_bi_ge/go_direct_boomers;_ylt=AhAwRX8rMWHTvV3JizW4c7as0NUE;_ylu=X3oDMTA3ODdxdHBhBHNlYwM5NjQ-