Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • MSE Guy
    • By MSE Guy 14th Apr 11, 1:36 PM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    MSE News: Treasury Committee to reopen cheques enquiry
    • #1
    • 14th Apr 11, 1:36 PM
    MSE News: Treasury Committee to reopen cheques enquiry 14th Apr 11 at 1:36 PM
    This is the discussion thread for the following MSE News Story:

    "Banks stand accused of ignoring millions of vulnerable people by pressing ahead with plans to phase out cheques ..."

Page 1
    • Niksan
    • By Niksan 14th Apr 11, 1:42 PM
    • 301 Posts
    • 172 Thanks
    Niksan
    • #2
    • 14th Apr 11, 1:42 PM
    • #2
    • 14th Apr 11, 1:42 PM
    Will that mean ISA transfers will come out of the stone age? Or will banks themselves still use the cheque method?
    • Biggles
    • By Biggles 14th Apr 11, 3:33 PM
    • 7,611 Posts
    • 5,016 Thanks
    Biggles
    • #3
    • 14th Apr 11, 3:33 PM
    • #3
    • 14th Apr 11, 3:33 PM
    Will that mean ISA transfers will come out of the stone age? Or will banks themselves still use the cheque method?
    Originally posted by Niksan
    It means they're thinking of keeping cheques after all, I think.
    • Consumerist
    • By Consumerist 14th Apr 11, 4:59 PM
    • 5,198 Posts
    • 2,602 Thanks
    Consumerist
    • #4
    • 14th Apr 11, 4:59 PM
    • #4
    • 14th Apr 11, 4:59 PM
    It means they're thinking of keeping cheques after all, I think.
    Originally posted by Biggles
    Well I hope so. I don't fancy the idea of giving the local Bob the builder my account details to pay for his work. What are the chances of him giving his bank details to me, I wonder.
    Warning: In the kingdom of the blind, the one-eyed man is king.
  • opinions4u
    • #5
    • 14th Apr 11, 5:07 PM
    • #5
    • 14th Apr 11, 5:07 PM
    Well I hope so. I don't fancy the idea of giving the local Bob the builder my account details to pay for his work. What are the chances of him giving his bank details to me, I wonder.
    Originally posted by Consumerist
    You prefer to give him the sort code and account number on a cheque instead?
    • Consumerist
    • By Consumerist 14th Apr 11, 5:10 PM
    • 5,198 Posts
    • 2,602 Thanks
    Consumerist
    • #6
    • 14th Apr 11, 5:10 PM
    • #6
    • 14th Apr 11, 5:10 PM
    You prefer to give him the sort code and account number on a cheque instead?
    Originally posted by opinions4u
    At least I would know the amount being taken.
    Warning: In the kingdom of the blind, the one-eyed man is king.
    • dtaylor84
    • By dtaylor84 14th Apr 11, 5:42 PM
    • 635 Posts
    • 519 Thanks
    dtaylor84
    • #7
    • 14th Apr 11, 5:42 PM
    • #7
    • 14th Apr 11, 5:42 PM
    You seem to have this backwards:

    If you give him a cheque, it has your account details written on it.

    For you to send him a payment, he would have give you his account details.
    • JuicyJesus
    • By JuicyJesus 14th Apr 11, 5:57 PM
    • 3,481 Posts
    • 3,939 Thanks
    JuicyJesus
    • #8
    • 14th Apr 11, 5:57 PM
    • #8
    • 14th Apr 11, 5:57 PM
    What a pity if cheques do get kept. Fraud levels on them are astronomical. Many people lose money through fraud committed using this archaic and insecure system. At least with debit card fraud there's a chance you'll get refunded - if a cheque you paid in bounces, well...
    • Consumerist
    • By Consumerist 14th Apr 11, 5:59 PM
    • 5,198 Posts
    • 2,602 Thanks
    Consumerist
    • #9
    • 14th Apr 11, 5:59 PM
    • #9
    • 14th Apr 11, 5:59 PM
    You seem to have this backwards:
    For you to send him a payment, he would have give you his account details.
    Originally posted by dtaylor84
    I can see that happening.
    Warning: In the kingdom of the blind, the one-eyed man is king.
  • paulwf
    I can see that happening.
    Originally posted by Consumerist
    This happens all the time...a lot of invoices now include sort code and account number so you can send them a BACS, indeed it is the preferred method of payment for most business to business transactions. Now that BACS get processed in a few minutes instead of cheques taking days (plus you need time to visit a bank) we'll see even more businesses asking their customers to pay by BACS.

    Someone knowing your sort code and account number isn't really a big deal.
    • NFH
    • By NFH 14th Apr 11, 7:17 PM
    • 4,329 Posts
    • 1,415 Thanks
    NFH
    "In particular, pensioners who are less comfortable with the internet still rely on them" - what about telephone banking if they're not happy with the internet? I don't see why an expensive clearing system should be maintained for a stubborn minority who refuse to use telephone banking or internet banking.
  • Culex
    "In particular, pensioners who are less comfortable with the internet still rely on them" - what about telephone banking if they're not happy with the internet? I don't see why an expensive clearing system should be maintained for a stubborn minority who refuse to use telephone banking or internet banking.
    Originally posted by NFH
    Fiddlesticks!

    How can one make a protest against paying a bill by sending the payee an Internet transfer written on the side of a cow?

    How can one send a company the statutory fee for a subject access request under the Data Protection Act 1998 except by cheque or postal order? Postal orders are more expensive and do not have any means to verify if the payment has been taken.
    • Mamzie
    • By Mamzie 14th Apr 11, 10:19 PM
    • 2,473 Posts
    • 17,818 Thanks
    Mamzie
    "In particular, pensioners who are less comfortable with the internet still rely on them" - what about telephone banking if they're not happy with the internet? I don't see why an expensive clearing system should be maintained for a stubborn minority who refuse to use telephone banking or internet banking.
    Originally posted by NFH
    What if they are hard of harding, how would they manage then? I konw my dh would hate to use the internet - yet would struggle even more with Telephone banking as he has hearing loss.

    Most of the small sports clubs our children go too get paid via cheque.
    My light may be on, but that doesn't always mean I am looking at the PC - I am far more likely to be cuddling or feeding Tianna atm, so please don't think I am ignoring you if I don't reply quickly

    Our Precious Baby Tianna has now joined our Family, she is much loved and very welcome, xxx
  • rb10
    Will that mean ISA transfers will come out of the stone age? Or will banks themselves still use the cheque method?
    Originally posted by Niksan
    Many banks are already using BACS transfers for ISAs, rather than cheques.

    Most of the small sports clubs our children go too get paid via cheque.
    Originally posted by Mamzie
    Doesn't mean that's the only way that it's possible to do it.

    They could equally well give you their sort code and account number and get you to transfer the money directly to their account. This really is a case of 'cheque is the way we've always done it, so we can't be bothered to change'.
    • NFH
    • By NFH 15th Apr 11, 7:04 AM
    • 4,329 Posts
    • 1,415 Thanks
    NFH
    How can one send a company the statutory fee for a subject access request under the Data Protection Act 1998 except by cheque or postal order?
    Originally posted by Culex
    This is obvious. The company publishes its sort code and account number, and you send the payment directly to their bank account. There's no need to send around archaic pieces of paper in the post.
    • NFH
    • By NFH 15th Apr 11, 7:11 AM
    • 4,329 Posts
    • 1,415 Thanks
    NFH
    What if they are hard of harding, how would they manage then? I konw my dh would hate to use the internet - yet would struggle even more with Telephone banking as he has hearing loss.
    Originally posted by Mamzie
    There's a third way to instruct your bank to make a BACS/FPS payment, which is a visit to a branch. After all, by giving a cheque to someone, you are putting the onus on the payee to visit their bank, which they might not routinely do, so this just reverses that onus. When cheques are abolished, the banks may introduce a postal system of securely instructing BACS/FPS payments.
  • rb10
    When cheques are abolished, the banks may introduce a postal system of securely instructing BACS/FPS payments.
    Originally posted by NFH
    There already is such a system. I can write a letter to my bank requesting that they make a BACS/FP payment to a specified account, and they will do it for me.
    • NFH
    • By NFH 15th Apr 11, 7:39 AM
    • 4,329 Posts
    • 1,415 Thanks
    NFH
    There already is such a system. I can write a letter to my bank requesting that they make a BACS/FP payment to a specified account, and they will do it for me.
    Originally posted by rb10
    Indeed, but the banks will most probably introduce a more sophisticated system for this with some kind of authentication other than a signature, e.g. a long list of PINs that you can use only once each and which you cross off after each use. This method is what banks in some countries (e.g. Germany) use as two-factor authentication for online banking.
    • Paulgonnabedebtfree
    • By Paulgonnabedebtfree 15th Apr 11, 8:28 AM
    • 2,703 Posts
    • 28,940 Thanks
    Paulgonnabedebtfree
    I can see that happening.
    Originally posted by Consumerist
    Funnily enough Consumerist, 70+ of my customers (window cleaning) currently pay me by bank transfer. I have no access to their accounts as in the direct debit system. The only access they have to mine is to pay into it electronically. It does actually work quite well. The customer sets up my sort code/account number on the bill payment section of their bank account. When a payment becomes due, they log in to their bank account (via web or telephone banking) and make the payment. As part of the bill payment setup they use a reference number that I supply to them (based on their house number/name and postcode) so that I know which customer has paid. Simple really. At least it was until Santander decided that they would no longer show the references - effectively leaving me to guess who had paid. So now I have all bank transfers going into a Co-op account and I keep on the Santander account as I can deposit cash and cheques 24/7 at the local ATM. Unlike Paypal and similar services, bank transfers are free so long as you don't use the CHAPS method.

    Many of my customers still pay by cheque. Some don't trust the internet. Some wouldn't know where to start as they've never even owned a computer. A very few even struggle to remember who I am when I turn up to clean for them. It is for such customers that cheques are needed really.

    I will have to push more for electronic payments in the coming years - before the probable abolition date. I can think of about 40 of my customers who would struggle with this (mostly the elderly). I will not re-start doorstep collecting as I've not done this for years. As things stand at the moment, the only understandable alternative for these people is the rather expensive postal order system.

    Fortunately, the type of customer who will struggle are the ones that are normally at home when I visit. Also, I will make it clear to any strugglers that they can pay for two cleans at once if they are out when I call in order to save them money on P.O.s.
    • Paulgonnabedebtfree
    • By Paulgonnabedebtfree 15th Apr 11, 8:32 AM
    • 2,703 Posts
    • 28,940 Thanks
    Paulgonnabedebtfree
    Fiddlesticks!

    How can one make a protest against paying a bill by sending the payee an Internet transfer written on the side of a cow?

    How can one send a company the statutory fee for a subject access request under the Data Protection Act 1998 except by cheque or postal order? Postal orders are more expensive and do not have any means to verify if the payment has been taken.
    Originally posted by Culex
    I hope no-one tries to stuff a herd of Fresians through my letterbox. Sometimes I can get as many as 10 cheques in a single delivery.
    Anyway, I'm a vegetarian .
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,929Posts Today

4,615Users online

Martin's Twitter
  • Quick twitter poll: Will Theresa May still be the PM of the UK a week today?

  • Thank you for all the sensitive teeth rememedies. I'm going to try (not the alchohol ones though - on air early tomorrow)

  • Grrrr. I've sensitive tooth pain after going to the dentist last week for a filling. I've been putting sensodyne? https://t.co/A1Q8sdSukK

  • Follow Martin