Anyone that uses Cheques should read this!

  Autoschediastic 07:23 AM 28 Jun 11
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Just seen this and i thought some of you may want to see this!

link text

  Quickbeam 07:31 AM 28 Jun 11

I can't remember the last time I wrote a cheque out, and as most peoples debit cards were their cheque guarantee card I can't see what difference it should make as the easier option of swiping Vs writing has in part brought about the downfall in the easily forged cheque.

Most garage forecourts and some other retailers stopped accepting cheques years ago.

  Autoschediastic 07:47 AM 28 Jun 11

QB i totally agree with you, i just thought for some people who use the forum this may be useful to them and save any issues.

  morddwyd 08:15 AM 28 Jun 11

As fm says, this is hardly news.

It was announced some time ago, as was the eventual demise of cheques themselves (subject to a suitable alternative).

  BT 09:10 AM 28 Jun 11

I don't think that in all the years that Cheque Guarantee cards have been around I have ever been asked for it. Then again I have rarely used a Cheque to pay for goods other than through the post. In shops it was either cash or Credit Card.

Thank goodness the major supermarkets gave up accepting cheques a while ago. Nothing more annoying than being behind the customer paying with a cheque, even for small amounts, probably in the hope that the money won't be taken from their account for a few days.

Just found my Cheque book and and it was started in January '06 and the last cheque used was in July '08 and there's still 5 cheques left which should last me for a few more years at the current rate of useage.

  Quickbeam 09:30 AM 28 Jun 11

I thought that postal orders went out when the Winslow Boy proved how vulnerable they were to fraud...

  Woolwell 09:48 AM 28 Jun 11

Cheque guarantee cards not being valid is old news. My post office has had a notice up about this for some time. It will probably not cause a major problem. The withdrawal of cheques though is a different matter as many charities rely on them for donations. I am not sure what a suitable alternative could be.

  johndrew 10:29 AM 28 Jun 11

There are several issues raised with the withdrawal of cheque guarantee cards and cheques. Many people - including me - do not trust banks and their debit cards and as a result refuse to have one. The cheque is very flexible and, probably, less open to fraud than a 'hole in the wall' card. At least credit card companies are separate from banks and more reasonable in their attitude when a card is fraudulently used unlike debit cards and the banks that issue them.

As a result of the cheque guarantee card being withdrawn, how is my bank going to provide me with cash if away from my branch? In the past a Visa card would offer a guarantee but this option has also been removed. In the future the bank would have a problem with me withdrawing cash at all with no cheques.

It also makes it difficult when staying at various bed and breakfast lodgings as many of these do not have the turnover to warrant registering with a credit card company. This in addition to the various tradesmen and small businesses that don't take credit cards and don't want large amounts of cash either on their person or on the premises.

When cheques are withdrawn the situation will get worse as cash will need to be carried as it will quickly become apparent to people that 'contactless' plastic is far less secure and loss or theft of the card will quickly result in a rapid depletion of funds with no proof of fraud other than the word of the owner owner - this has proved to be of little worth to banks in the past.

Additionally, many companies pay dividends by cheque and even insurance companies make payments this way as it offers a tangible audit trail - not something which can be easily said of electronic records.

Banks may not like the idea of such a cost and inconvenience of cheques but until a better, flexible, more secure and tangible method is devised they should support that which is in existence. Alternatively perhaps there is an opportunity for a further organisation to evolve which only deals with cheques and would take all wages and other incoming payments but pass on a set amount to banks to pay the standing orders and direct debits - I feel certain banks would really appreciate such action!!!

  Forum Editor 10:54 AM 28 Jun 11

There are undoubtedly people who do not trust banks and their debit cards, but they are in a small minority, relative to the number of accounts in existence. Cheque fraud losses amounted to just under £29million in 2010, which is a small figure, but then the number of cheque transactions is falling substantially.

I doubt that I have written more than a couple of cheques in the past 12 months. All of my financial transactions are either via credit and debit cards, or BACS transfers. Cards are safer and more secure than chequebooks; for one thing, I'm not providing anyone with my bank account details when I pay by card.

Chequebook enthusiasts will fight a rearguard action, but they're attempting to stop the tide coming in. The future of financial transactions is electronic, plain and simple.

  interzone55 11:18 AM 28 Jun 11

Like fourm member I wrote my first cheques in years last week, one for our site electric bill and one to a charity as I wasn't willing to put my credit card number in a letter.

When I looked back the previous stub was dated 05/2006. I'm actually surprised I could find my cheque book.

As my bank has not written to me regarding guarantee cards I assume they're still valid, but I very much doubt I'll make use of the facility as I pay for pretty much everything with my Visa Debit card or cash, and I only get cash using cash back in Asda & M&S as I really don't trust high street ATMs after having my card cloned last year

  hssutton 11:42 AM 28 Jun 11

I'm with the Fe on this one. I very rarely carry any cash,paying for everything via debit/credit card but do keep a small amount in the car for car park fees.

On the other hand I manage my disabled daughters "direct payment" and all 4 of the care provders my daughter uses do not have any means for me to pay other than by cheque. Hopefully in the near future these 'care providers' will update their systems so that I can pay electronically.

Cheques are a nightmare for me to fill in, as I suffer from severe arthritis making my writing skills worse than a two year old.

Third attempt to post this message. Kept getting the "Please Wait" message

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