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18th of July 2011
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News Tag: cheques

July 12, 2011

Cheques will not be scrapped, say Payments Council

by Kay Mitchell
It has been announced today that cheques will not be phased out after the Payments Council announced it would abolish them in 2018. The Council has now decided to keep them after criticism from MPs and charities and was forced to make the u-turn after pressure from the public. Richard North, the chairman of the Payments Council, said: "It's in the ...

March 17, 2010

Fears for elderly hoarding cash when cheques phased out

by Kay Mitchell
Consumers groups have expressed concern for the elderly if cheques are abolished, suggesting that it will result in them hoarding cash at home. Appearing before the Treasury Select Committee, Jane Vass, of Age Concern and Help the Aged, warned that there could be a security issue if cheques were to be scrapped. "This would encourage people to return to ...

November 27, 2009

Which? opposes abolition of cheques

by David Masters
Which? opposes abolition of cheques
Plans by the banks to phase out cheque books could prove disastrous for the Brits who rely on cheques to make day-to-day payments, consumer rights group Which? has claimed. "The fact is a lot of people still rely on cheques, especially people who are housebound or for some people it's the only way they feel comfortable paying tradesmen, sometimes the only way they ...

September 21, 2009

Banks plan to phase out cheques

by David Masters
Brits are snubbing cheques in favour of faster payment methods, new figures show. Credit cards, debit cards and cash increased their market share yet again in the second quarter, with cheque payments dropping 21% on year. Statistics from the UK Payments Association show payments on plastic cards rose 3% in the three month period to £95.5 billion. Commenting on the figures, HSBC spokesperson Tim ...

May 22, 2009

Brits ditch credit cards for debit

by David Masters
UK consumers are spending more on debit cards and less on credit cards since the onset of the recession, payments association Apacs revealed this month. Brits spent 4% more on their debit cards in the first three months of this year compared to the year ago period, whilst credit card spending dropped 3% despite an overall rise in plastic card use. Plastic spending ...

June 27, 2008

Consumers not excited about contactless payment cards

by Kay Mitchell
According to figures from APACS, the UK payments association, consumers have not been won over by contactless payment cards. The cards allow consumers to buy small-ticket items on a credit or debit card without actually having to hand any plastic over or enter a pin. The cards have already been launched in London but Apacs show that just 15,000 transactions were made ...

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