Cheques to be scrapped by 2018
17 December 2009 17:41:13
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| Cheques will no longer be used after 2018. |
At its meeting on December 16th, the board of the Payments Council agreed to phase out cheques by October 31st 2018 in both Great Britain and Northern Ireland.
Chief executive Paul Smee emphasised that the date is "still a long way off" and that the vast majority of groups involved in an 18-month consultation "accept that 2018 is a feasible end date".
He also pointed out that there will be a review in 2016 to ensure the target date is still viable.
PayPal, which allows consumers to send and receive payments online, welcomed the decision, as long as suitable alternatives are developed ahead of 2018.
Representative Rob Skinner said that modern payment methods "are far more convenient for most consumers and businesses".
He predicted that, in future, there will be a "big increase in the number of people making payments from mobile phones".
However, Liberal Democrat MP Mark Hunter described the move as "scandalous", claiming that elderly, disabled and housebound people will be inconvenienced by the change.
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