Monday, 20 June 2011

Could the banks change their minds about scrapping cheques?

The Payments Council, representing the banks, had a pretty rough ride when they appeared before Parliament's Treasury Select Committee. The Treasury has written to MPs on the Committee saying that they might consider blocking plans to abolish cheques in 2018 if suitable alternatives are not found.

David Ward MP however suspects that the banks may just reduce the level of service - like they've scrapped cheque guarantee cards - until they can quietly stop cheques completely by 2018.

More on this story here

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