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Cheques not to disappear

Community Veteran
Posts: 18,545
Thanks: 191
Registered: 12-08-2007

Cheques not to disappear

It has been announced that cheques will not now be withdrawn from use as originally planned.
Cheques
21 REPLIES
gswindale
Grafter
Posts: 942
Registered: 05-04-2007

Re: Cheques not to disappear

Stupid Stupid Stupid decision.
Withdraw them from 1st Jan 2012 is what I say.
Community Veteran
Posts: 16,836
Thanks: 1,124
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Registered: 06-11-2007

Re: Cheques not to disappear

Quote

The decision to withdraw cheque guarantee cards, which came into effect at the end of last month, still stands.

which seems to be a bit stupid....  Undecided
Community Veteran
Posts: 5,322
Thanks: 467
Fixes: 1
Registered: 21-03-2011

Re: Cheques not to disappear

Stupid unless you are a pensioner with no on-line payment facility and have chosen not to use credit cards.
Now Zen, but a +Net residue.
Community Veteran
Posts: 14,469
Registered: 30-07-2007

Re: Cheques not to disappear

Quote from: shutter
Quote

The decision to withdraw cheque guarantee cards, which came into effect at the end of last month, still stands.

which seems to be a bit stupid....  Undecided

Not if only 2% of cheques were guaranteed with a card. Yes, there are some companies (the post office for one) which won't accept cheques without a guarantee but they often accept debit cards, which most accounts with cheques have anyway.
While I am glad cheques will stay, I'm not surprised guarantee cards have gone.
Community Veteran
Posts: 5,342
Thanks: 609
Registered: 23-09-2010

Re: Cheques not to disappear

Never made any sense from the start. How can you get rid of cheques at the present time while we still have coins and paper money?
They tend to go together. If we had turned into a cashless society only then would it make sense.
Community Veteran
Posts: 18,545
Thanks: 191
Registered: 12-08-2007

Re: Cheques not to disappear

So far this year I have written 5 cheques so I don't think it would bother me too much if they were to disappear.  I understand the problems faced by some people, however, who do not use credit/debit cards to pay their bills.
Community Veteran
Posts: 1,850
Registered: 11-08-2007

Re: Cheques not to disappear

i still use cheques for a variety of payments, not least to tradesmen who prefer them to having large chunks of vulnerable cash in their motors.  getting rid of them made no sense as they will die a natural death as more people transfer to electronic means.
Community Veteran
Posts: 6,307
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Fixes: 3
Registered: 08-01-2008

Re: Cheques not to disappear

In my experience, most business to business account payments are still done by cheque typically using the old 'end of month cheque run'.
More businesses are moving to BACS / CHAPS but progress is slow, the larger companies often being more reluctant to change.
I use cheques to pay for school trips (can't hand a child a large sum of cash AND the payment can be traced on my bank statement if there's a dispute) also our dog groomer who collects the mut and returns him looking and smelling nicer when I typically don't have the necessary cash to hand.
I'd like to see an end to cheques in some ways but I think it will (and should) be a while yet.
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alanf
Aspiring Pro
Posts: 1,931
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Registered: 17-10-2007

Re: Cheques not to disappear

Cheques may stay but they are expensive to process so what is to stop the banks introducing a charge for each cheque written to discourage their use?
Moderator
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Registered: 06-04-2007

Re: Cheques not to disappear

I seem to remember that banks used to charge for cheques {around 10p IIRC).

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Community Veteran
Posts: 5,322
Thanks: 467
Fixes: 1
Registered: 21-03-2011

Re: Cheques not to disappear

The banks would love to lose cheques because it largely requires human intervention to process them, thus affecting the banks' profits. It is expensive delivering the cheques to India for processing.
The banks would also like to see the end of cash, they would love to charge 3% for every financial transaction. At present the cash system circumvents the banks desire to take their salami slice of the profits. Note though, if my company engages with a cash transaction with the bank such as pay-in they levy a 3% charge on the transaction.
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Community Veteran
Posts: 18,545
Thanks: 191
Registered: 12-08-2007

Re: Cheques not to disappear

I think this change of heart is one that has been forced on the banks reluctantly.  I agree with AlaricAdair on that.
pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Re: Cheques not to disappear

Perhaps PN's antiquated billing system had a go at them, after all they ue chs cheques for some cash back payments
James
Grafter
Posts: 21,036
Registered: 04-04-2007

Re: Cheques not to disappear

I can't stand cheques personally.  That's maionly down to not wanting to physically go into a bank to pay them in.  Much prefer the ease of use of online banking.