Cheques to be abolished

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Posted: Tue Jan 26, 2010 3:15 pm

If the abolishment of using cheques goes ahead, it can only make the life of a scammer harder, so it's got to be a good thing, right?

The Payments Council has voted in favour of abolishing the use of cheques as a means of payment.
Cheques are to be phased out by 2018 Photo: DANIEL JONES The Payments Council Board has agreed to set a target date of 31st October 2018 to close the central cheque clearing system.
Although cheque use has been in decline since 1990, and has fallen by 40pc over the last five years, there are still plenty of situations where cheques are used extensively.
It said that the payments industry has to rise to the challenge of finding easy-to-use efficient alternatives for these payments and to ensure that they are easily accessible and well understood by cheque users. The goal is to ensure that by 2018 there is no scenario where customers, individuals or businesses, still need to use a cheque.
Chief Executive of the Payments Council, Paul Smee said: “Customers aren’t likely to see any immediate change as the target date is still a long way off. This announcement marks the start of extensive work that we need to do to ensure that everyone has a viable alternative, should the cheque clearing close.
"We aim to be very transparent and we will continue to consult fully with all interested parties. There will be a critical review in 2016 when the Payments Council will decide whether sufficient change has occurred against agreed published criteria, to press ahead to do away with the cheque in 2018."

Posted: Tue Jan 26, 2010 3:49 pm

Darn... I'll need to start collecting fakes before they give that up too...

Posted: Tue Jan 26, 2010 4:34 pm

What country, please?

Posted: Tue Jan 26, 2010 4:39 pm

A country where they spell checks "cheques".

Smile

Posted: Tue Jan 26, 2010 5:29 pm

Hi Diana Prince Cheques will be phased out by 2018 in the UK

Posted: Tue Jan 26, 2010 5:36 pm

oh, coming from north of THAT border. Cool

An interesting proposal, not only for those of us law-abiding folks, but also for the spammers, scammers, miscreants, and n'eer-do-wells in our midst.

Thanks for the info and the reply, Furball.

Posted: Tue Jan 26, 2010 5:54 pm

For anyone who is interested in reading the article. I don't know how to set up a link, so just type in "cheques to be abolished" and read the story written in the telegraph!

Posted: Tue Jan 26, 2010 6:00 pm

CowboyBuck wrote:

A country where they spell checks "cheques".

Smile

Issat checks or czechs mate Rolling Eyes

Posted: Tue Jan 26, 2010 7:06 pm

^^^ Talk is cheap, until you get a number of overpaid individuals deciding what will change in the future.

Not unlike changing the name of product 'Oil of Ulay' became 'Olay' at greta expense and absolutely no benefit to consumers.

Posted: Tue Jan 26, 2010 7:43 pm

devil_woman wrote:

Not unlike changing the name of product 'Oil of Ulay' became 'Olay' at greta expense and absolutely no benefit to consumers.

and WTH is it with Starburst and Snickers too? Sorry to folks on the other end of the pond but you got it all wrong Laughing

Posted: Tue Jan 26, 2010 9:17 pm

^^

But we'll still accept cheques.
My personal banker will clear them no problem and, 100% risky free Wink