Age UK questions banks commitment to the future of cheques
The future of cheques remains unclear despite a ruling in July by the Payments Council that they will remain in use as long as they are needed, according to Age UK.
Since the announcement by the Payments Council, who are in charge of payments strategy, UK banks have remained tight-lipped over their plans for cheques.
Age UK is attempting to highlight the issue so that the use of cheques doesn’t simply “wither away.”
Original plans for a gradual withdrawal of cheques between now and 2018 were lambasted by consumer groups who believe they are a vital lifeline for some elements of society, such as the elderly.
The Treasury Committee will publish its final report on the issue on Thursday. The Committee of MP’s supported the interests represented by consumer groups in keeping cheques for as long as members of the public use them.
Age UK has received increasing numbers of complaints from consumers about retailers refusing to accept cheques.
Age UK's Charity Director, Michelle Mitchell said: "Confidence in cheques was seriously undermined when the guarantee card was abolished. We need to know there are definite plans in place to restore trust in them. Otherwise, cheques will simply be allowed to wither away and their demise will be blamed on lack of demand.
"Cheques are too important to many older people to just fade away, particularly as the banks and building societies have not come up with an alternative payment system which is safe and accessible and allows people to maintain their financial independence."
A spokeswoman for the Payments Council said in a statement that the banks had committed to continue to provide cheques but that they had no control on whether consumers continued to use cheques or if retailers carried on accepting them.
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