Government abandons controversial phasing-out of cheques

Controversial plans to abolish printed cheques by 2018 have now been scrapped, the bank trade body, the Payments Council, has announced.
The group, which represents banks and payments groups, has now said cheques will be available to bank and building society customers for “as long as customers need them”.
Work started last year on an alternative paper-based system, but the Payments Council said it had now decided that this was no longer the best option and that “retaining the cheque is a better approach”.
Richard North, Chair of the Payments Council said: “Listening to over 600 stakeholder groups, working with the banks and following our appearance before the Treasury Select Committee, we have concluded we should reassure customers that the cheque is staying.”