Common sense prevails!

Dunc · Jul 12, 2011

Just heard on the radio that cheques will no longer be phased out by 2018 and will be kept for as long as there is a demand for them. Definitely good news for small businesses as that's often our primary source of payment. Will still keep pushing for BACS payments though as I hate wandering down to the bank to pay them in!

News LINK

Octopus · Jul 12, 2011

That's good news for small business, charities, old people and youth groups then!

DurhamSparky · Jul 12, 2011

same here im so happy!! unless they made debit card machines free to businesses other than say a small charge per transaction how elese were we going to get paid (frog marching customer to cash point to withdraw his savings)

mogga · Jul 12, 2011

BANKS no longer gaurentee cheques so if you can afford to "Bounce" cheques your basicaly stuffed

SPARTYKUS · Jul 12, 2011

mogga said:
BANKS no longer gaurentee cheques so if you can afford to "Bounce" cheques your basicaly stuffed

Wow. so that means then that they are potentially worthless

Adam W · Jul 12, 2011

SPARTYKUS said:
Wow. so that means then that they are potentially worthless

Not at all - they're still an agreement to pay, and can be sent safely through the post to pay for products and services as they were before. If the cheque doesn't clear then the company simply won't dispatch the goods, or the amount owed will remain the same; many companies even make a charge for returned payments (bounced cheques).
Cheque guarantee cards were only really useful for 'instant payments' such as in shops where other methods of payment are preferable (eg cash or card) which is more convenient for the shopkeeper because they don't have to take a bunch of cheques down the bank at the end of the day.

Ponty Massive · Jul 12, 2011

Wish there was an apt for taking card payments via your iphone!

Dunc · Jul 12, 2011

Ponty Massive said:
Wish there was an apt for taking card payments via your iphone!

There is but i don't know if it's available in the UK yet. You need a plug in card reader to use it and the company who control the secure payments will charge you a percentage of the payment you take for there services. Think it was 3% which is a lot in my opinion.