Cheques bounce back
David Ward MP has given a cautious welcome to today's announcement that the Payments Council have dropped their 2018 target for abolishing cheques.
The Payments Council - representing all major banks - announced last year that it planned to phase out cheques by 2018. Under pressure from consumers and the "Save Our Cheque" campaign they have admitting today that there is no suitable alternative available and agreed to cancel the 2018 target.
David has been at the forefront of the campaign to save cheques, including introducing a Bill in Parliament to ensure that any decision to phase out cheques has to be taken by and independent and accountable organisation.
Commenting, David Ward said:
"This is a real victory for people power and is great news for the thousands of charities, small businesses and ordinary consumers who rely on cheques every day. It was completely outrageous to set a target date for abolishing cheques when it was clear that there is no good alternative available for many people. This was a descision made by banks intent on cutting their costs, riding roughshod over the needs of their customers.
"However, we mustn't be complacent. While this is certainly a positive move, there is still nothing to stop individual banks from quietly getting rid of cheques through the back door, by gradually withdrawing the services that make them a viable system for consumers and businesses. We must send out a clear message to the banks that cheques are still an essential part of providing a full service to their customers."