UK Money News
26th February 2008
Cheques checking out
Cheques are becoming less common as consumers adopt electronic balance transfers and credit and debit cards, research has shown.
The trusty cheque was once among the most common ways to pay for goods and services.
But over the last decade, plastic has pushed cheques aside, with their speed, portability and improved security.
Sandra Quinn, director of communications at the payment services firm Apacs, said cheques were certainly becoming less common.
However, she warned that with many people still using them from time to time, it was important to brush up on the rules.
"As cheque payments become less common, it's easy to forget some of the rules for writing and paying in cheques," she said.
Concern has been expressed that with electronic payments now preferred at an increasing number of payment points, some groups, such as the elderly, who rely on cheques, could be disadvantaged.
According to Apacs, Brits received on average five cheques each last year and they made up just four per cent of transactions.
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