yep - when i was protesting to my credit union - this is the reasoning that was given to me. It is happening in Europe already and that is will be phased in here soon. There was no timeline given. I would prefer electronic transfer, or, better still, paypal, but SA seems to be lagging behind badly in this area.
yes the sooner everyone gets out of denial land & organises an alternative the better i think. lets get with the 21st century for gods sake