Cheque guarantee cards 'could return'

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Cheque guarantee cards 'could return'

This is a duplicate of the Blog Entry made on 16th November 2011 21:06.

The abolition of cheque guarantee cards is being reviewed and could lead to a return of the scheme. The system, which ensured that some cheques up to...

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Re: Cheque guarantee cards 'could return'

Cheque guarantee card scheme 'will not return'

The Payments Council says that its research "provides clear evidence that no case exists for reinstating the cheque guarantee card scheme".

It said that its research showed that 88pc of guaranteed cheque users report that since scheme was closed in June that cheques continue to be accepted in all those places where they had used the guarantee. Only one in eight of those who had used a guaranteed cheque to pay a business in the past 12 months said that any of those businesses had decided to no longer accept a cheque.

Just over 40pc of consumers who had used their cheque guarantee card in the past 12 months were unaware that the Scheme had closed. This suggests that, either consumers were using the Scheme only on rare occasions, or that they have not experienced businesses refusing to accept cheques since closure of the Scheme, the Payments Council said. With regard to businesses only 1 in...Read more here--: Cheque guarantee card scheme 'will not return' - Telegraph