Ditching cheques will 'fail customers'

آخر تحديث:  الخميس، 25 أغسطس/ آب، 2011، 15:47 GMT
Close up of a person signing a cheque

Hello! Welcome to BBC Xtra English!


Today Dan and Louay are talking about whether the time has come to finally get rid of cheques or not.

Banks in the UK have been trying to get rid of cheques for some time now.The Payments Council, which is an organisation of financial institutions and banks, said it planned to scrap cheques entirely by 2018.

The Payments Council has the power to abolish cheques. But a group of British MPs has said that abolishing cheques would be unfair on consumers.

We hear a clip from BBC's Justin Webb, saying that cheque usage has declined in the UK. But the lobby group Consumer Focus, says that two thirds of people still cash and write cheques.

MP Andrew Tyrie, opposes the abolishment of cheques.

He says that old and vulnerable people would be appalled if they were told they needed to learn a new electronic system, and small traders who rely on cheques could be put out of business.

Some charities have approached Andrew Tyrie to campaign to keep cheques.
They said that for some small traders 80 per cent of their revenues from cheques.

A lot of people in the UK don't use cheques anymore but there aren’t yet suitable alternatives. And until there are, we need to keep cheques.

Banks need to re-assure their customers that cheques are not for the chop as well as to speed up the cheque clearing mechanisms.


But what to you think? Do you think cheques are still relevant, or should they be for the chop? Who would suffer most if they were abolished? And what do you think the safest and most efficient method of payment is?

Scrap

Abolish

Declined

Vulnerable

Appalled

Small traders

Revenues

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