Cheques Being Phased Out

[Georgiesmum]

Awhile ago there was talk about cheques being phased out and I understood the idea was later scrapped. Today I was told there has been a change of heart and cheques will now be scrapped on 31st of October this year. Did anyone else know about this and will you be sorry to see them no longer in use?

[whiskeryron]

Thanks Mammy, love you to bits !

[hazydaisy]

Ron, definitely not betters
We may not have as much money as others
Money is still money

[ABerrant]

It is not the cheque that is being abolished on the 31st October 2018 – instead it was announced in 2011 that the cheque clearing system was going to end.

https://publications.parliament.uk/pa/cm201012/cmselect/cmtreasy/writev/cheques/m53.htm

In the intervening years it transpired that cheque clearing has/will be speeded up (next weekday clearing via cheque imaging) rather than ending.

https://www.chequeandcredit.co.uk/cheque-users/consumers/cheque-imaging

[hazydaisy]

At this rate there will be no point in having banks
Where can I hide my cash?
Under the carpet or mattress?
Somewhere in the garden?

[Jackdaw33]

I cannot make head or tail of ABerrant's link. As for cheque imaging, I'm none the wiser.

[douglas9401]

Faique news. :)

[THECORBYLOON]

Rather than the paper cheques being sent from bank to bank and taking yonks to clear, digital images will be sent and they should clear the next day.

[Georgiesmum]

Thank you all for all your replies, especially to Mamya who solved my query for me once again, much appreciated x

[dannyk13]

Just checked (excuse the pun) with my bank.There are no plans to scrap cheques.

[murraymints]

phew..I still use cheques occasionally...

[hc4361]

I had a letter from my bank just last week informing me that cheques will be processed much faster and to ensure that I had the funds in my account before issuing them.

No mention of them being scrapped so I doubt very much the information you read online is correct.

[roopower]

Just been sent a new cheque book, I'm sure I would have been told if I won't be able to use it much longer. Don't know what I'd do without cheques, most people wouldn't be too happy giving me their bank details and I'm not sending cash through the post.

[woofgang]

not sure why they wouldn't give you their bank details, every time you give someone a cheque, you give them YOUR bank details.

[Jackdaw33]

I agree with woof. All you need is the other's account number and sort code, available on the front of cheques and bank cards. This allows you to make online payments into the account but not withdrawals. I use it all the time.

[hereIam]

I still use cheques and would like to carry on doing so !

[Mamyalynne]

Glad you feel more at ease now GM.

[hereIam]

A paperless society - haaa!!!

[Peter Pedant]

I think it may be this one

https://www.moneysavingexpert.com/news/banking/2009/12/cheques-to-disappear-by-october-2018

and if you look at the date it was posted - - -- 2009
as Trumpo [beloved of some] would say - Fake Nooz

[Peter Pedant]

yes Hc
the old clearance was 2-4-6
and I think they were trying to get it to 1-2-3.

2 d out of payer acct
4 d into payee as a figure
6 d can use ....

[Canary42]

I still use cheques quite often, and receive some too.