Cheques to "check out" after being "banked on" for 350 years........................

mc_squared · 23-11-2009, 01:56 AM

After 350 years, cheques to be consigned to the history books

By Becky Barrow
Last updated at 1:07 AM on 23rd November 2009

Cheques are to be abolished under controversial plans being drawn up by bankers.
They are widely expected to vote next month for the chequebook to be consigned to history.
Yesterday, the move was criticised by consumer groups, business lobbyists and charities representing the elderly.

Bounced out: The chequebook could be abolished by 2018 after the number issued every day has fallen drastically

They raised fears that vulnerable people, who have relied on their chequebook all their lives, will be left confused.
Many others simply prefer to pay by cheque, instead of by direct debit or bank transfer.
The Payments Council said its research shows the number of cheques being written every day has fallen dramatically in recent years.

More...

Banks 'will charge for using cash machines'

At their peak in 1990, around 11million cheques were written every day. Latest figures show the number has dropped to around 3.8million.
Cheques, which were first used in Britain 350 years ago, are also an expensive form of payment for banks.
Enlarge

They cost around £1 each to process, which is four times as much as electronic payments.
The council's 15-strong board - made up of 11 banking representatives and four independents - will take a decision on December 16.
The most likely date for cheques to be phased out in the UK is 2018.

A growing number of stores including John Lewis and Tesco have stopped accepting cheques.

Stores claim they are the most insecure form of payment and that abolishing them cuts queues at checkouts.
But cheques are still widely used for making payments to local tradesmen and for utility bills.
Government departments, such as HM Revenue & Customs and the Department for Work and Pensions, rely on cheques to make millions of payments each year.
Andrew Harrop, head of public policy at Age Concern and Help the Aged, said: 'Many older people use cheques and cash for all their transactions and are uncomfortable with alternative payment methods, such as credit or debit cards with PIN numbers.
'To prevent older people becoming financially excluded, any plans to end the use of cheques must ensure there are alternative ways of paying which they are happy using.'
Vera Cottrell, of the consumer lobby group Which?, said: 'There are still no cheap, safe alternatives to cheques. Until that time, cheques should not be withdrawn.'
The Federation of Small Businesses said it will 'strongly oppose' any move to get rid of cheques.
Sandra Quinn, a director of the Payments Council, said: 'We are completely aware that elderly, disabled and disadvantaged people need alternatives to be in place.
'If the decision is made [to end the cheque], there will be a long time before it comes into effect.'

Read more: http://www.dailymail.co.uk/news/arti...#ixzz0XdwdjJGA

Black Rose · 23-11-2009, 09:33 PM

Cheques are still used a lot where I work, especially from the officers with their £150+ bills

busybeeburns · 23-11-2009, 09:35 PM

granny will have to make do with paypal

Black Rose · 23-11-2009, 09:42 PM

Paypal, the site which allows you to upgrade from a personal account to a business account to accept credit card payments, but won't let you downgrade again

busybeeburns · 23-11-2009, 09:43 PM

also Paypal, the site that chooses its own exchange rate without telling you first!

Black Rose · 23-11-2009, 09:52 PM

It makes the exchange rates on credit cards look decent

busybeeburns · 23-11-2009, 10:01 PM

I wouldn't know, I don't and never will own one!

Black Rose · 23-11-2009, 11:02 PM

They are useful for large purchases, just for section 75 (the part which makes the card issuer pay up if the place you ordered your brand new £400 sofa from goes bust after taking your money but before they deliver)

Jenjie · 24-11-2009, 05:11 PM

Quote:
Originally Posted by busybeeburns;3731658
granny will have to make do with paypal

you've seen what she's like with cheques, don't confuse her even more by making her get a computer

23-11-2009, 01:56 AM	#1
mc_squared Banned Join Date: Apr 2003 Posts: 67,519 My Mood: Location: Wherever life takes me Gender: Country: Chat posts: 0 Thanks given: 0 Thanked 4 Times in 4 Posts	Cheques to "check out" after being "banked on" for 350 years........................ After 350 years, cheques to be consigned to the history books By Becky Barrow Last updated at 1:07 AM on 23rd November 2009 Comments (0) Add to My Stories Cheques are to be abolished under controversial plans being drawn up by bankers. They are widely expected to vote next month for the chequebook to be consigned to history. Yesterday, the move was criticised by consumer groups, business lobbyists and charities representing the elderly. Bounced out: The chequebook could be abolished by 2018 after the number issued every day has fallen drastically They raised fears that vulnerable people, who have relied on their chequebook all their lives, will be left confused. Many others simply prefer to pay by cheque, instead of by direct debit or bank transfer. The Payments Council said its research shows the number of cheques being written every day has fallen dramatically in recent years. More... Banks 'will charge for using cash machines' At their peak in 1990, around 11million cheques were written every day. Latest figures show the number has dropped to around 3.8million. Cheques, which were first used in Britain 350 years ago, are also an expensive form of payment for banks. Enlarge They cost around £1 each to process, which is four times as much as electronic payments. The council's 15-strong board - made up of 11 banking representatives and four independents - will take a decision on December 16. The most likely date for cheques to be phased out in the UK is 2018. A growing number of stores including John Lewis and Tesco have stopped accepting cheques. Stores claim they are the most insecure form of payment and that abolishing them cuts queues at checkouts. But cheques are still widely used for making payments to local tradesmen and for utility bills. Government departments, such as HM Revenue & Customs and the Department for Work and Pensions, rely on cheques to make millions of payments each year. Andrew Harrop, head of public policy at Age Concern and Help the Aged, said: 'Many older people use cheques and cash for all their transactions and are uncomfortable with alternative payment methods, such as credit or debit cards with PIN numbers. 'To prevent older people becoming financially excluded, any plans to end the use of cheques must ensure there are alternative ways of paying which they are happy using.' Vera Cottrell, of the consumer lobby group Which?, said: 'There are still no cheap, safe alternatives to cheques. Until that time, cheques should not be withdrawn.' The Federation of Small Businesses said it will 'strongly oppose' any move to get rid of cheques. Sandra Quinn, a director of the Payments Council, said: 'We are completely aware that elderly, disabled and disadvantaged people need alternatives to be in place. 'If the decision is made [to end the cheque], there will be a long time before it comes into effect.' Read more: http://www.dailymail.co.uk/news/arti...#ixzz0XdwdjJGA __________________ LIFE ISN'T MEANT TO BE TAKEN SERIOUSLY Be yourself, no matter what anyone else thinks. Work to live - don't live to work...................... Age is purely a state of mind! Don't waste your time on jealousy. Success is a journey, NOT a destination. Life is a marathon, NOT a sprint! http://www.generationterrorists.com/...sunscreen.html

23-11-2009, 09:33 PM	#2
Black Rose Bear with me Join Date: Jun 2005 Posts: 47,603 My Mood: Location: A strangeland under the iron sea where hopes & fears can make the night train be in perfect symmetry Gender: Country: Chat posts: 0 Thanks given: 6 Thanked 112 Times in 90 Posts	Cheques are still used a lot where I work, especially from the officers with their £150+ bills __________________ You could take a picture of something you see In the future where will I be? You could climb a ladder up to the sun Or write a song nobody had sung Or do something that's never been done

23-11-2009, 09:35 PM	#3
busybeeburns mr coldplaying himself Join Date: Sep 2002 Posts: 46,454 My Mood: Location: test Gender: Country: Seen CP: 20 times Fav. CP album: X&Y Fav. CP song: GPASUYF Fav. CP member: Chat posts: 16 Thanks given: 1,589 Thanked 968 Times in 433 Posts	granny will have to make do with paypal __________________ The early bird catches the worm. The second mouse gets the cheese!

23-11-2009, 09:42 PM	#4
Black Rose Bear with me Join Date: Jun 2005 Posts: 47,603 My Mood: Location: A strangeland under the iron sea where hopes & fears can make the night train be in perfect symmetry Gender: Country: Chat posts: 0 Thanks given: 6 Thanked 112 Times in 90 Posts	Paypal, the site which allows you to upgrade from a personal account to a business account to accept credit card payments, but won't let you downgrade again __________________ You could take a picture of something you see In the future where will I be? You could climb a ladder up to the sun Or write a song nobody had sung Or do something that's never been done

23-11-2009, 09:43 PM	#5
busybeeburns mr coldplaying himself Join Date: Sep 2002 Posts: 46,454 My Mood: Location: test Gender: Country: Seen CP: 20 times Fav. CP album: X&Y Fav. CP song: GPASUYF Fav. CP member: Chat posts: 16 Thanks given: 1,589 Thanked 968 Times in 433 Posts	also Paypal, the site that chooses its own exchange rate without telling you first! __________________ The early bird catches the worm. The second mouse gets the cheese!

23-11-2009, 09:52 PM	#6
Black Rose Bear with me Join Date: Jun 2005 Posts: 47,603 My Mood: Location: A strangeland under the iron sea where hopes & fears can make the night train be in perfect symmetry Gender: Country: Chat posts: 0 Thanks given: 6 Thanked 112 Times in 90 Posts	It makes the exchange rates on credit cards look decent __________________ You could take a picture of something you see In the future where will I be? You could climb a ladder up to the sun Or write a song nobody had sung Or do something that's never been done

23-11-2009, 10:01 PM	#7
busybeeburns mr coldplaying himself Join Date: Sep 2002 Posts: 46,454 My Mood: Location: test Gender: Country: Seen CP: 20 times Fav. CP album: X&Y Fav. CP song: GPASUYF Fav. CP member: Chat posts: 16 Thanks given: 1,589 Thanked 968 Times in 433 Posts	I wouldn't know, I don't and never will own one! __________________ The early bird catches the worm. The second mouse gets the cheese!

23-11-2009, 11:02 PM	#8
Black Rose Bear with me Join Date: Jun 2005 Posts: 47,603 My Mood: Location: A strangeland under the iron sea where hopes & fears can make the night train be in perfect symmetry Gender: Country: Chat posts: 0 Thanks given: 6 Thanked 112 Times in 90 Posts	They are useful for large purchases, just for section 75 (the part which makes the card issuer pay up if the place you ordered your brand new £400 sofa from goes bust after taking your money but before they deliver) __________________ You could take a picture of something you see In the future where will I be? You could climb a ladder up to the sun Or write a song nobody had sung Or do something that's never been done

24-11-2009, 05:11 PM	#9
Jenjie PA to SammyBeeBurns Join Date: Oct 2002 Posts: 5,810 My Mood: Location: at Coldplaying.com Gender: Country: Chat posts: 0 Thanks given: 35 Thanked 90 Times in 41 Posts	Quote: Originally Posted by busybeeburns;3731658 granny will have to make do with paypal you've seen what she's like with cheques, don't confuse her even more by making her get a computer __________________ "The fat lady has sung and the world's Vida has been well and truly Viva-ed." - R#42 14th March 2010 I've got my "I Heart Coldplaying.com, It's My Life" knickers in a twist!!! 2012: 9&10 June - Manchester Etihad; 2011: 4 Dec - MEN Arena 2010: 25 Nov - Boat Trip 2009: 30 Jan - Absolute Radio; 18 Feb - War Child; 19 Sep - Wembley 2008: 11&12 Dec - MEN Arena 2005: 4&5 July - Reebok Stadium; 19 Dec - MEN Arena 2003: 14 Apr - MEN Arena 2002: 20 June - Mountford Hall; 11 Oct - MEN Arena