MPs make moves to keep the cheque book

Page last updated Thursday, 14 July 2011

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Update 14 July 2011 - Cheque book is saved but will it be at a cost to the consumer? Read more

BBC: Cheque abolition to be examined by MPs

Plans by banks to eventually phase out the use of cheques are going to be re-examined by a committee of MPs. The Treasury Committee said it would reopen its enquiry because of continued public disquiet. The banking industry said in 2009 that cheques would stop being used by 2018, if suitable alternatives had been developed in time. It has since been confirmed that cheques will only go if a suitable paper-based alternative is created.

In November last year I reported on the possible demise of the cheque arising from the Payments Council’s proposal to abolish this time honoured method of payment by 2018

Not everyone has internet access or can easily get to a cash machine and not everybody is willing to pay by credit card or share their bank details in order to organise electronic payments so it is good news for those that rely on the good old fashioned cheque book that The Treasury Committee are to re-examine this issue because of public disquiet.

Cheques cost about £1 each to process, four times more than the cost of an electronic payment and more and more stores have stopped accepting cheques claiming that they are the most insecure form of payment and add to delays at the check-out.

I believe the plan to withdraw cheques is simply a cost saving exercise for the banks, which are prepared to ride roughshod over the needs of vulnerable consumers and charities.

The plan to withdraw cheques has been widely criticised by lobbyists and consumer groups who say that many, particularly the elderly, who have been used to using a chequebook for years, will be confused.  They say that they use cheques and cash for all their transactions and they are uncomfortable with alternative payment methods, such as credit or debit cards with PIN numbers. Any plans to end the use of cheques must ensure there are alternative ways of paying which they are happy using.

Government departments, such as HM Revenue & Customs and the Department for Work and Pensions, rely on cheques to make millions of payments each year and cheques are still widely used for making payments to tradesmen and for utility bills.

Let's not forget that we have enjoyed the facility of the cheque for the past 350 years so why change now and cause the massive problems for those that still rely on this method of payment?


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Susan (guest) (Guest) Wednesday, 07 March 2012

Cheques are part of our history and have been going for over 350 years. I am in favour of keeping the beloved cheque. I am always writing cheques and find it a quick and easy method of transferring money, paying for holidays, gifts and catalogues. If I want to put money into my savings account or my nieces I always send a cheque. How can you replace the cheque with a paper substitute - IT IS PAPER - just leave the cheque alone. I blame the Banks, they are just nit picking and need to find some proper jobs to do, rather than create disharmony, chaos and confusion amongst the British public. Leave the cherished cheque alone!

Ann (Guest) Thursday, 07 July 2011

It is completely misleading that people do not want to use cheques . Rather it is shops etc . who do not give us the choice to use cheques . Also I now do not trust the banks -they have not thought this through and put something in its place which is as good as good as the cheque

David (Guest) Tuesday, 21 June 2011

As office manager for a small firm, I can say that the loss of cheques would be a major blow, as most of our clients pay that way.

June Barnard (Guest) Thursday, 19 May 2011

We must fight to keep the Cheque Book.
I run a Ladies Club with 40 members we take cheques for Outings Theatre Meals out all banked in our Club account we collect the cheques at our meetings
We list |Cheques and we can control who has paid.
If we have to only deal in cash this would be a security problem for our meetings.
When we give Charity Donations we give a Cheque.
When I send gifts of money I send a cheque.
My mothers Care Package I pay by cheque. And small bussines People
We must demand we keep this connvienent way of settling the bills.

DecoDora (Guest) Friday, 06 May 2011

I wish to speak out in favour of maintaining the cheque payment method until an alternative is found. I run a small business & it is not viable to use the credit card option. Also and more importantly I will not 'do' direct debits - I have been stung by utiliies , telephone, even car insurance fees etc etc in fact every time I have set up a DD something has gone wrong & always benefitted the co. concerned. Since standing orders are no longer used as a means of paying because the companies don't offer that option - I always pay with a cheque or bacs transfer. So I feel very strongly that we must keep the cheques as every penny counts.

G Ashton (Guest) (Guest) Friday, 06 May 2011

Cheques make simple payments easy and are tactile methods of accounting for your money and expenditure (especially for bills/statements). We are losing the ability to communicate in writing for such a necessary finance task.

Margaret Valentine (Guest) Friday, 06 May 2011

Cards may now be used more than cheques but cheques are so handy with regard to gifts and to give to people who do not have card machines. Please keep the cheque book.


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