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Cheques: Fight still on to prevent demise, says Age UK
Originally posted by 5corpio
he future of cheques remains in jeopardy with specific plans needed to restore faith in the payment option, according to Age UK. The charity was forthright in opposing previous plans to replace cheques by 2018 - a proposal which has now been discarded.
But it said there was still a chance that cheques would "wither away".
The Payments Council, which oversees payments strategy, said banks were committed to a future for cheques. A spokeswoman said that banks and building societies would continue to provide cheques for as long as customers needed them, a point later echoed by RBS which is majority-owned by the taxpayer.
Confidence 'undermined'
Original plans for a managed withdrawal of cheques, with a target date of 2018, prompted an outcry among groups representing the elderly and others who used cheques.
Criticism of the industry plan reached a peak this year, with the hostile reception from the Treasury Committee of MPs in April. Its final report will be published on Thursday. The weight of opinion, including views from the public, led to this plan being dropped in July.
However, Age UK is now calling on the banking industry to do more to bolster confidence in cheque use, especially following the end of the cheque guarantee card system - which ensured some cheques were
Read more on this story: BBC News - Cheques: Fight still on to prevent demise, says Age UK
But it said there was still a chance that cheques would "wither away".
The Payments Council, which oversees payments strategy, said banks were committed to a future for cheques. A spokeswoman said that banks and building societies would continue to provide cheques for as long as customers needed them, a point later echoed by RBS which is majority-owned by the taxpayer.
Confidence 'undermined'
Original plans for a managed withdrawal of cheques, with a target date of 2018, prompted an outcry among groups representing the elderly and others who used cheques.
Criticism of the industry plan reached a peak this year, with the hostile reception from the Treasury Committee of MPs in April. Its final report will be published on Thursday. The weight of opinion, including views from the public, led to this plan being dropped in July.
However, Age UK is now calling on the banking industry to do more to bolster confidence in cheque use, especially following the end of the cheque guarantee card system - which ensured some cheques were
Read more on this story: BBC News - Cheques: Fight still on to prevent demise, says Age UK
Forum Previous News about the Axing of Cheques: CLICK HERE