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10th of August 2011
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Age UK: Cheques could still “wither away”

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by Kay Mitchell

The future of the cheque book remains uncertain again today after the charity, Age UK, said cheques could still “wither away”.

Last month, it was announced that cheques would not be phased out after the Payments Council announced it would abolish them in 2018.

The Council said it would keep cheques in place after criticism from MPs and charities and was forced to make the u-turn after pressure from the public.

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

Age UK is urging the banking industry to do more to boost confidence in cheque use – particularly since the cheque guarantee card system came to an end.

Charity director Michelle Mitchell comments: “Confidence in cheques was seriously undermined when the guarantee card was abolished. We need to know there are definite plans in place to restore trust in them otherwise cheques will simply be allowed to wither away and their demise will be blamed on lack of demand.”

Cheque usage continues to decline as consumers opt to use debit cards or other quicker payment methods. Retailers ceased accepting them at checkouts three years ago.

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News posted: August 8, 2011

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