Cheque usage continues to decline in Q2

| September 9, 2010 | 0 Comments

The UK Payments Council, the body which oversees the strategy on payments systems, has said cheque usage continues to decline as consumers opt to use debit cards.

In the April to June period, an average of 290,000 fewer cheques were written each day, a fall of 10% compared with the same period last year.

The Council said usage of the debit card rose 12.4% during the three-month period, while withdrawals from cash machines declined by £1.6 billion compared with a year ago - a drop of 3.2%.

Sandra Quinn, director of communications at the Payments Council, comments: “Cheque usage is shrinking dramatically, while credit cards hold less appeal for consumers and businesses.

“We use cash less where there is an easy alternative, but we’re years away from cash falling out of fashion,” she added.

The figures come after the UK Payments Council voted to phase out cheques on 31 October 2018, but stated at the time that cheques will not be phased out until an “accessible and acceptable” alternative payment system is introduced.

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