Cheques move a step closer to extinction

Rupert_Bear

How many of us have in the past been in a supermarket and the person in front decides to pay by cheque. Some ladies would only get their cheque book out of their bag at the point of sale. They would then carefully fill in the cheque counterfoil and be completely oblivious to everyone around them.

Also even though the customer had a debit card/cheque card they still insisted paying my cheque.

We must all embrace change and for me this has my thumbs up.

Inactive

This is for the benefit of the greedy banks, it has nothing to do with customer choice.

savagej

Inactive wrote: »

This is for the benefit of the greedy banks, it has nothing to do with customer choice.

I agree, cheques cost banks money, payment cards make banks money. It is not for our convenience and if little old ladies have been used to something all of their life why should they be forced to change. I would personally like to have the choice, not have it whipped from under me by an 18 year old who thinks they know it all.

flyingscotno1

The guarantee is small issue. Mind you not only small companies that accept them as payment or give them out. Whilst personal cheques have declined they are still highly used with companies IMHO.

withnell

Another advantage of cheques is they can help people manage their finances - you have a clear record of what money has gone out.

While credit card transactions provide you with a reciept, they're a> all on different loose bits of paper, and b> are all different sizes, shapes etc. It's nice and easy with a cheque book to keep a note of ins and outs

Extant

Inactive wrote: »

This is for the benefit of the greedy banks, it has nothing to do with customer choice.

Greed is a human affliction, it is the selfish desire for something. A bank is not a human, a bank is a business and thus has a responsibility to generate profit for the shareholders.

This is a business decision, not a case of greed. Cheque guarantees are rarely used and often unenforceable.

More over, said decision was made after careful consideration by the Payments Council, which compromises representatives from the banks and the government. So, sorry, it's not "those greedy banks."

Brian_Pomeroy,_Chairman_of_the_Payments_Council wrote:

We went to great lengths to listen to the views of all users and acceptors of guaranteed cheques and have only made the decision to withdraw the scheme after satisfying ourselves that no group will be unfairly affected or find that there is no means of making a payment.

Extant

CLAPTON wrote: »

Does Barclays provide a non cash payment system appropriate for small clubs or small tradesman?

Yes, a sort code and account number.

Ifts

IMO having a cheque book is still useful in some cases and they will always have a place.
For example when you have to send a cheque to open a savings bond by post and they require you to send the opening deposit by cheque from your linked account to prove your I.d. It saves you having to go into your branch to get a counter cheque done from your nominated account with your name printed on it.

Extant

Ifts wrote: »

IMO having a cheque book is still useful in some cases and they will always have a place.
For example when you have to send a cheque to open a savings bond by post and they require you to send the opening deposit by cheque from your linked account to prove your I.d. It saves you having to go into your branch to get a counter cheque done from your nominated account with your name printed on it.

Cheques will not always have a place - clearing will eventually cease to be. Clearing reduces year on year, and banks will gradually "fall away" from offering the service, before ceasing all together.

If you don't believe me, go and try to pay your Bank Giro Credits at an Abbey or a Halifax branch.

It will happen, and your example is an especially poor one - Know Your Client obligations can be met easily enough without requiring a cheque, or your specific use could be done by Direct Debit.

Lansdowne

Sorry, BarMan, that is not a proper answer to the reasonable question from Clapton.

A cheque is an instruction to my bank to pay the club/tradesman the given sum from my account.

The unique point about a cheque is that I can send it to the club/tradesman in the post. (A cheque guarantee card is used over the counter and it is understandable that this can be phased out once everyone can use a debit card for the same purpose.)

How do you propose I can use a sort code and account number in the post, in such a way that the money is identified by the trader etc at the other end.