Following widespread opposition, the banking industry has confirmed it will no longer be scrapping the cheque.
The Payments Council yesterday announced that it would reverse its decision to scrap the cheque by 2018, continuing their use for as long as customers need them.
As well as encouraging local people to sign a petition to keep the cheque, Jo has called on the Government and the banks to recognise the cheque’s importance as an essential form of revenue and valued method of payment for many.
Commenting, Jo Swinson said:
“I am delighted that the Payments Council has thought again about scrapping the cheque. Many people across East Dunbartonshire, including small businesses, charities and elderly people would have taken a real blow from the removal of this crucial method of payment.
“Last year alone there were over one billion cheque transactions which shows just how widely used this form of payment still is. For many, the cheque is a reliable, safe and easy method of payment – and this announcement proves that banks cannot afford to ignore the needs of their customers.”