Cheques to disappear in 2018
 

Someone mentioned this to me today - first Id heard of it, and I couldnt find any previous topic.

A search of the BBC found this > http://news.bbc.co.uk/1/hi/8414341.stm

This seems a very bad idea to me - I may not use cheques often, but I do still use them (like this week for some work on my garden) there is no way I'd have the amount in cash, and why should I (or they) pay 2.5% or whatever in Credit Card fees.

Do we really want to be giving each other our bank account details for direct transfers ?

Re: Cheques to disappear in 2018
 

Apparently cheques will only 'cease to be' if a suitable alternative is in place:

http://www.bbc.co.uk/news/business-11937641

Re: Cheques to disappear in 2018
 

I'm annoyed about it as well but the places we can still use a cheque are gradually dwindling as it is.

They are also useful for sending through the post.We aren't all online(my ma-in-law for one at 96) and so transferring money to another for single payments can be a problem.Yes there are gift tokens but we don't all have those to hand unlike a cheque book.

I'm wondering for whose benefit it really is as I'm pretty sure it's not for the customer.

Re: Cheques to disappear in 2018
 

It makes sense really.

If fewer and fewer people are using them then the cost per transaction will rise and rise.

Better to introduce a cheaper alternative than you end up paying a fee for their use...

Re: Cheques to disappear in 2018
 

The ones that are printed on the bottom of every cheque in magnetic ink Paul?

Re: Cheques to disappear in 2018
 

cheque ,credit/debit card or cash what other alternative can there be for daily use ?

Re: Cheques to disappear in 2018
 

Direct transfer - doable online, over the phone or in branch. It's like a cheque without the paper and money is in the recipient's account in 2 hours.

Re: Cheques to disappear in 2018
 

We will all have to get one of these installed by the front door and fitted in our vans.

http://www.cardsave.net/card-machines

Re: Cheques to disappear in 2018
 

A cheaper alternative? Well then I reckon cheques are safe for a lot longer because I cannot see what could be a cheaper system.There surely has to be some central system set up to facilitate any paper /card transaction and this will still 'cost' to run.

I know Postal Orders..where the user has to pay a certain percentage extra to pay for the service..pity the Post Office is being sold.

---------- Post added at 23:23 ---------- Previous post was at 23:22 ----------

My 96 year old M-in-law won't be interested in that...

---------- Post added at 23:24 ---------- Previous post was at 23:23 ----------

Ma will throw one of those at me..:D

Re: Cheques to disappear in 2018
 

From the link in my earlier post:


Anyway, who uses cheques on a daily basis nowadays?

Re: Cheques to disappear in 2018
 

I'm sure there's a lot of things she isn't interested in, unfortunately things change.

I suspect she'd be more interested in them if our banks began to charge for cheques, this is pretty commonplace.

Re: Cheques to disappear in 2018
 

I use that myself sometimes ,not as convenient as a cheque but certainly an option for some .I have no doubt that cheques will become redundant and i have no problem using a debit card as a replacement it's the older generation that will be inconvenienced but that will sort itself out naturally,i haven't written a cheque for about 4 years there is no need for them as there is nearly always the option to pay by debit card ,the charges for using it need to be abolished though

Re: Cheques to disappear in 2018
 

I don't see the problem really. They will probably be phased out, with a charge being levied at some point. Traders can carry mobile chip & pin devices, so you can pay by Debit Card, which won't incur stupid charges. Traders will have to buy the handset, but it'll have advantages for them as well. Cheques aren't a safe way of payment for traders anyway. I can write a cheque for work done to my garden and be on the phone to the bank to cancel it before the trader has left my driveway.

Some traders might want to insist on cash, but some do now anyway. In fact, I just had a shed built, and cash was the only option.

Re: Cheques to disappear in 2018
 

http://www.ukpayments.org.uk/media_c...es/-/page/719/

Slightly related but the the cheques guarantee system seems to be coming to an end

Re: Cheques to disappear in 2018
 

Well that can be said of any system.

---------- Post added at 01:20 ---------- Previous post was at 01:07 ----------

Well it would be like using a Postal Order then, except you don't actually have to visit an outlet to purchase the form..as for going online well she's adamant she's not wanting to be 'learning new tricks'.Poor eyesight,arthritis in her hands makes using a phone or a computer keyboard a problem..
Frankly if people want to use cheques and are prepared to pay the 'costs' for the sake of convenience why not?Who the hell is it hurting?:shrug: