Nearly three quarters of British people believe that cheques should not be phased out, our poll has discovered, as it was recently announced that plans to get rid of cheques by 2018 have been dropped. Fewer than one in five people say that cheques should no longer be used as a form of payment – in fact, two thirds of people say they have paid for something by cheque within the last six months, with 16% of people saying they have paid by cheque in the last week.
- 72% of British people think that cheques should not be phased out
- While 18% of people believe they should
- 66% of people have used a cheque within the last six months, with one in five (20%) saying they have used a cheque to pay for something between a week and a month ago
- The older generation are more likely to use cheques, with 22% of those aged 60 and over having used that method of payment in the last week
- That’s in comparison to 4% of 18 to 24 year olds who’ve paid by cheque in the last week
- Significant disparity lies in those who have never made a payment by cheque, with 30% of 18 to 24 year olds revealing they’re never written a cheque, compared to just 5% of 25 to 39 year olds and 1% of those aged over 60
‘The cheque is staying’
The Payments Council faced widespread criticism from MPs and charities when they announced in 2009 that they planned to phase out the cheque by 2018. This month, however, the plans were revoked as it was announced that cheques will be kept ‘as long as customers need them’.
Richard North, the chairman of the Payments Council, said: ‘It's in the DNA of the Payments Council to consult and listen to all those people who actually make payments and use cheques.’
‘Listening to over 600 stakeholder groups, working with the banks and following our appearance before the Treasury Select Committee, we have concluded we should reassure customers that the cheque is staying.’