Cheques not be scrapped after all, banks say

rb10

Debt-Regret wrote: »

I also use cheques, for school trips, to pay dentist, to post to relatives - the list goes on.

School trips - if they'd actually scrapped cheques then schools would have to introduce online payment systems (which already exist, and many schools already use)

The dentist will probably take cards soon, if they don't already.

Relatives can more easily be paid by telephone or internet banking.

DCFC79

Cheques and supermarkets and other retailers just do not mix, the customer spends ages writing out the cheque when they could have paid by cash/card and another customer could have been served,

Dollardog

I have a small business and am unable to take card payments, I welcome the cheque system staying as it is a means of people paying me if they haven't got the cash on them. I also like to pay by cheque under certain circumstances.

EarthBoy

Dollardog wrote: »

I have a small business and am unable to take card payments, I welcome the cheque system staying as it is a means of people paying me if they haven't got the cash on them.

What's to stop people writing you cheques that will bounce, now that cheque guarantee cards have been abolished? It will cost you a lot of money to chase these people for payment, -and that's presuming that they've left you their addresses. When you start losing a lot of money from dud cheques you might decide it's worth taking card payments.

ChiefGrasscutter

EarthBoy wrote: »

What's to stop people writing you cheques that will bounce, now that cheque guarantee cards have been abolished? It will cost you a lot of money to chase these people for payment, -and that's presuming that they've left you their addresses. When you start losing a lot of money from dud cheques you might decide it's worth taking card payments.

Well presumably he/she as a small business has factored in the losses incurred though bounced cheques against the costs incurred from having to accept credit cards............and has concluded that at present it is not worth their while to set up facilities to accept credit cards.

The last small business I dealt with operating on cheques told me a lot of its business was from other Ltd Company businesses rather than private individuals. While the latter often expected credit cards to be accepted, the former would be paying by cheque themselves against formal invoices submitted.
These business to business cheques themselves would probably be signed by two separate authorised persons.
Indeed it was always going to be 'interesting' to see how this two signature aspect of cheques signing was going to be superseed by some new system. Looks like they have abandoned trying now.

Milarky

Yes, the retards have prevailed once again. Thank god, for England, Harry and Bovril!