Dispute Over Cheques Continues in UK

by Mercator Advisory Group 0

The dispute over the fate of cheques in UK continues. A consumer advocate says the possibility of discontinuing cheques will hurt older people who have relied on them throughout their lives.

Michelle Mitchell, Charity Director of Age UK said, “This is an opportunity for the banks to live up to their promise to keep cheques for as long as they are needed and to make them truly viable for older people and others who rely on them. If they squander this opportunity, confidence in cheques will continue to evaporate.

In April 2011, the UK Payments Council sought consumer input regarding its 10-year blueprint for the UK payments market in which it proposed ending cheque processing by 2018.

The proposed plan has caused concerns among consumers, leading to an announcement from the Payments Council expressing regret over the way it presented the proposal and stating that the plan was not yet set in stone.

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