Death of the Cheque

  carolineann 23:04 13 Sep 2006

The Times - The death of the cheque

The high street health and beauty retailer Boots is the latest retailer to ban cheques as a form of payment. The new rule, which will be implemented in 46 Boots stores in the south of England, is part in an industry wide move to kill off the cheque......

Boots' decision follows a similar ban by Shell last year. Asda and Tesco have also introduced restrictions on cheques.

Boots says that cheques increase queue times and make the retailer more vulnerable to fraud. Since the introduction of Chip and Pin for debit and credit cards earlier this year, the use of cheques at Boots outlets has plummeted. Boots says cheques now account for only two purchases in every 1,000, and that usage has fallen by a third in a year.

Analysts expect cheques to be an entirely redundant form of payment within five years – nearly four centuries after they first appeared....

I cant remember the last time I issued a cheque? can you?

  Forum Editor 23:09 13 Sep 2006

but I run a business, and pay invoices that way.

In my private life I hardly ever write cheques - certainly not more than a dozen or so a year. Electronic bill payments are faster and more convenient, and in shops I use a credit card for almost all purchases. I imagine that millions of us do the same, which is why cheques will gradually fade away.

  CurlyWhirly 23:12 13 Sep 2006

"I cant remember the last time I issued a cheque? can you?"

I haven't used a cheque for at least 3 years ever since I joined an online bank that doesn't use them!

  carolineann 23:21 13 Sep 2006

wish every merchant would ban cheques. One of the most annoying things about shopping is waiting forever in line behind some one who insists on writing a cheque to pay for the three items in the basket. Even though one would think paying by cheque is largely a premeditated act, they invariably wait until the last minute to pull out the cheque book and start filing the thing out! Rant over

Haven't they heard heard of debit cards? Sheesh!

  CurlyWhirly 23:24 13 Sep 2006

"Haven't they heard heard of debit cards? Sheesh!"

Yes so much quicker.

As far as I'm concerned, the sooner they are obsolete the better.

  carolineann 23:27 13 Sep 2006

I went in a shop a long time ago and his card machine was down..He said I can take a cheque.

Embarrassing few moments taking everything out of handbag to find it right at the bottom.

Along with other things I would have rather not shown.

  carolineann 23:30 13 Sep 2006

I feel the banks will have to make it easier for small businesses, clubs, societies and individuals to take plastic!

  ade.h 23:30 13 Sep 2006

In our household, every utility bill is paid by cheque, as I have found the direct debit system to be unreliable and fundamentally flawed. It is only used where other payment methods are impractical (ie, monthly payments for small amounts).

Like the FE, I run my own business, so I often write and receive cheques. It is very important to small and medium businesses.

In retail stores, I would rather pay with cash than use a card except for large amounts. I have ocasionally used a cheque in a store.

  carolineann 23:41 13 Sep 2006

I on the other hand have only praise for the direct debit system as I personally have never had a problem with it, and it does save me the trouble of remembering when things have to be paid...
Being blonde I need all the help I can get.

  Forum Editor 23:52 13 Sep 2006

which is a marvellous system in my opinion; I've never had a single problem with it. The world of personal finance would grind to a halt without Direct debits, and I know of few people who don't use the system.

Otherwise I pay online - it's rare for me to pay by cheque, except in the crcumstances I outlined earlier.

Eventually all commercial invoicing will be electronic - I haven't sent a paper invoice to a client for several years - as will all payments, and that can't come too soon for me. I receive quite a few payments by BACS transfer now - far better than cheques in the post.

  lisa02 00:06 14 Sep 2006

Cheques take longest to come out of your account so using it in shops if you fall short before payday is why they do it.

In the shop I work in you typically see a rise in the appearance of the cheque book in the last week of the month.

They take ages as our machines don't print them so ya have to wait til they fill them out by hand. Then we have to manually turn cheque over and write down the Guarantee card details: the number, amount, expiration, store number and initial it.

Pain in the rear, glad to see the back of them.

Manage your finances properly!

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