The Payments Council has announced today that the planned scrapping of cheques in 2018 will no longer go ahead.
Richard North, the Chairman of the Payments Council said:
It’s in the DNA of the Payments Council to consult and listen to all those people who actually make payments and use cheques. Listening to over 600 stakeholder groups, working with the banks and following our appearance before the Treasury Select Committee, we have concluded we should reassure customers that the cheque is staying.
Of course, as cheque guarantee cards were scrapped at the end of last month, the usefulness of cheques is limited – but some people do continue to use them to pay at a distance. Just this week at work we’ve had two customers request to pay by cheque — the first in the last two years!
When I was selling on eBay, some buyers were wedded to cheques and refused to use any online method of payment, either because of security concerns, or because they didn’t have any other means of payment. As a seller, I loathed them: slow, made out to the wrong name, liable to bounce slowly and causing me a trip to the bank to pay them in, I wanted electronic means of payment every time.
What do you reckon? Are you happy to see cheques reprieved, or are they already a thing of the past? Leave us a comment.
55 Responses
As long as it doesn’t bounce I don’t care, money is money.
There’s nothing like your bank sort code, account numbers, bank address and signature all on one neat little piece of paper to send to a stranger is there?
They wouldn’t be so bad if they cleared quicker, but at least they are faster than Paypal eCheques :-/
I don’t care, just pay me by PayPal, Postal Order, Cheque, Bank Transfer, Cash, Western Union (Not on eBay of course, but whilst it’s dodgy as hell for the buyer it’s safe as houses for the seller :-D)
Money is money, I just want it in my bank account 🙂
we take paypal only we dont take cheques at all ever from ebay buyers
yet we still get the daft sods who say they have sent a cheque and insist it has cleared
I’m pleased to hear that they won’t be scrapped. Most of my customers pay by either PayPal or NoChex (a fairly even split), but I do still take a couple of hundred quid a month by cheque. It’s a form of money and no transaction charges, so I’m very happy to retain it as a payment method.
I’ve had a handful of paper cheques bounce over the past few years (far less than the number of eCheque failures though), but the customers have always paid up again.
We are happy to accept cheques (banker’s or personal) but we always wait until they clear before shipping. Often we’ll ask them to deposit their cheque straight into our bank account so they save on postage and it clears faster too.
Cheques have been reinstated but it is increasingly harder to use one. More and more high street retailers are refusing them with the lastest being the Post office refusing them for 99% of their services/products.
How can you start off talking about cheques and end up talking about the rail network?
Trains Castles Helicopters Traction engines
did someone mention Cheques or has my orange juice been tampered with
Could Tamebay send a tweet out when things get back to business please.