Wednesday, July 13, 2011

Checks bounce-back from oblivion

Cheques bounce back from oblivion

Category: Money
Date: 12/07/2011

Payments Council has a u-turn complete, with the announcement that checks are no longer in the year 2018 scrapped are.

The body said that checks for stay, as long as the people need.

In December of last year was decided checks, with the goal of October 2018 cited the payment end expire.

Figures show that cheque use has fallen in the last five years by 40%, have been highlighted.

However, the payments Council said that it would work to find alternatives to the cheque.

The decision prompted fury among consumer groups, who said, that cheques were still widely used, especially by older people, and that they used many small businesses.

And after MPs invited new evidence, has taken a decision was to cancel the target 2018.

"It is in the DNA of the payments Council to consult and listen to all those who actually make payments and use checks,", said Richard North, the Chairman of the payments Council.

"Listen to more than 600 groups, with the banks and after our appearance in front of the Treasury Select Committee, work, we have concluded that we should reassure customers, who will remain the cheque."

Old UK welcomed the decision, but said to, there were many other issues with banking, everyday lives, such as problems with the access to cash influence.

"We are very pleased that payments Council has owned by many people, said, how difficult would be the loss of checks for them," the charity said.

"This is a crucial first step to help many older people."

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