James Duddridge, Member of Parliament for Rochford and Southend, confirms that cheques will not be terminated in 2018.
The Payments Council announced that cheques will continue for as long as customers need them and the target for possible closure of the cheque clearing in 2018 has been cancelled.
The Payments Council Board will continue to focus on security, efficiency and encouraging innovation in all types of payments to ensure customers have options best suited to the 21st century.
James said
“I am pleased to confirm that cheques will not be discontinued in 2018. This is good news for people who are dependent on cheques as an ongoing payment method. Many elderly residents, schools, clubs and charities and small businesses were concerned as they are reliant on cheques for payment and this will be a relief to them.”
ENDS