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MSE News: MPs call for cheque guarantee card return

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  • pmduk
    pmduk Posts: 10,682 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I suspect these are the same rent-a-quote MPs who would prefer to uninvent the wheel!
  • davidgmmafan
    davidgmmafan Posts: 1,459 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    "The Treasury Select Committee said the scrapping of the card led to more businesses refusing to accept cheques."

    Other posters have already touched on what I thought. In scrapping they guarantee card it then makes it more likely the decline will continue or accelerate thus getting the banks off the hook.

    I don't know why some posters are so certain cheques are here to stay. They only just decided not to scrap them, presumably because they couldn't find an alternative.

    If you want to send money to someone electronically a warning comes up online to say, in nicer language, if you enter the wrong details you are screwed.
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  • flimsier
    flimsier Posts: 799 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    I've just returned from camping in Cornwall. Of the three sites I visited, all three rely on cheques for deposits and to pay the balance (or hope you carry a lot of cash). It's a very city-centric thing to consider - scrapping cheques.

    Having said that, my current cheque book goes back to 2006.
    Can we just take it as read I didn't mean to offend you?
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    flimsier wrote: »
    It's a very city-centric thing to consider - scrapping cheques.
    But they've backed away from scrapping cheques.

    The thread is about reintroducing cheque guarantee cards.
  • MoneySaverLog
    MoneySaverLog Posts: 3,232 Forumite

    If you want to send money to someone electronically a warning comes up online to say, in nicer language, if you enter the wrong details you are screwed.

    For that reason alone, I'd rather pay someone by cheque in the post than ask for bank details to do one off online transfers.
  • thenudeone
    thenudeone Posts: 4,462 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Aegis wrote: »
    I honestly don't understand why we still need them when we have cash, debit/credit cards and direct payments available.

    With respect, your view of cheques isn't the issue.

    No-one has ever been forced to accept a guaranteed cheque against their will, nor to issue one!

    If two willing participants wanted to use the cheque guarantee process because it fitted their circumstances, the banks have decided that they can't do so any more. The issue is the removal of that choice from bank customers (both personal and business) just because it suits the banks.
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  • hermante
    hermante Posts: 596 Forumite
    Part of the Furniture 500 Posts Name Dropper
    The only thing I find cheques useful for is higher value payments as you have some paper proof you paid. With
    thenudeone wrote: »
    The issue is the removal of that choice from bank customers (both personal and business) just because it suits the banks.

    Well a bank exists to make money, so it should do whatever suits it best. It's a different matter if the bank was supported by taxpayers, but that shouldn't have happened.
  • flimsier
    flimsier Posts: 799 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    opinions4u wrote: »
    But they've backed away from scrapping cheques.

    The thread is about reintroducing cheque guarantee cards.

    And now they've backed away from that, they need to back away from what was a stepping stone to scrapping cheques.

    Sorry for not explaining fully my point.
    Can we just take it as read I didn't mean to offend you?
  • DVardysShadow
    DVardysShadow Posts: 18,949 Forumite
    I won't do on-line banking. There is no protection against getting a digit wrong in the account number for a payment and transferring your money to a random account somewhere - with no end of a job to get it back. The measures to protect against this - a public password - are quite simple, but it seems to me that this 'payments council' don't really care about making the on-line systems safer, they just want to force abolition of the existing systems.
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  • JuicyJesus
    JuicyJesus Posts: 3,831 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 25 August 2011 at 11:34PM
    flimsier wrote: »
    And now they've backed away from that, they need to back away from what was a stepping stone to scrapping cheques.

    Sorry for not explaining fully my point.

    Well, sorry to say, tough. The previous cheque guarantee scheme is now closed, and none of the banks involved issue the cards any more. Many former CG cards will have been replaced with their non-CG equivalents. The banks are not going to reintroduce it unless the government make them, and quite frankly that isn't going to happen.
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