Thursday, July 14, 2011

Check-u-turn hailed as a "Victory for common sense"

Cheque u-turn hailed as ‘victory for common sense’

Category: Money
Date: 13/07/2011

The decision to reverse the Elimination of cheques by 2018 has hailed as a victory for "Common Sense" and "Consumer choice".

Payments Council announced yesterday afternoon that she had taken the decision, not the phaseout of the payment method in the next seven years.

It was said that checks for required, as long as the people need.

The original decision proved controversial, as business organizations and activists, who said for the elderly, that cheques are still widely used.

A group of parliamentarians had ordered that new evidence be taken after the backlash.

Dr. Ros Altmann, Director-General of saga, said that the decision was that the right one, point out that almost seven out of ten older people not with the payments Council decision agree to abolish t.

"Money in the modern era is easy-come-easy go;" the ceremony of writing a cheque are importance a transaction, and people at a time when money was just much more and much more appreciated reminds, ", added to it."

"This is a fantastic victory for common sense - saga has daily contact with millions of older people, and we have led or supported all efforts to ensure that the powers the be know that the cheque is also behind him is over."

Group of consumers-the? Checks get rid of criticized the original decision.

"This is great news for the millions of people who regularly use checks,", said the? Chief Peter Vicary-Smith.

"While to process it more convenient for the banks, other forms of payment, it is not so easy for their customers".

"To announce a timetable for the abolition of checks before any suitable alternative was, in place had been questioned never a good idea." "This is a victory for common sense."

While check usage in recent years fallen is more than one billion payments are made every year, with the old paper method and still you are preferred and most reliable way of payment for many.

Kay Blair, Vice President of the range consumer said that people may be, choose the payment method, that they prefer if spend their own money.

"Three years from the original request is missing still an effective alternatives to the checks."

Find the best bank account for you - compare bank accounts


No comments:

Post a Comment