The House of Commons Treasury Select Committee is to re-open its inquiry on the future of cheques, which face being phased out by October 2018. The UK Payments Council announced in 2009 that cheques would be abolished if viable alternatives could be developed.
Jon Ellis, owner of Town Common News in Christchurch, Dorset, said a number of his home news delivery customers pay by cheque. “Some would be fairly upset if cheques were phased out because they don’t like using debit cards, especially over the phone.”
But Raj Hindocha, a Mace and Spar retailer in the Midlands, said he welcomed a move to phase out cheques. “I’m a forecourt trader so we don’t like taking cheques due to the added bank charges and clearing element. Banks are withdrawing cheque guarantee cards anyway.”
Treasury Committee chairman Andrew Tyrie MP said: “Many charities, small businesses and vulnerable people depend on cheques. Their needs must be considered.”