80m cheques cleared in Q3; still used by majority of charities
Melanie May | 21 November 2016 | News
Cheques are still popular with charities and consumers, with more than 80 million cleared in just Q3 this year by C&CCC, with a value of £97.5 billion.
According to the Quarterly Cheque-up from the Cheque & Credit Clearing Company (CCC&C), it cleared an average of 1.25 million cheques a day in Q3 this year, with an average value of £1,199.
The vast majority of charities use cheques: 87% according to C&CCC, writing on average 11 a month, and receiving 18. Its research shows that the most common reasons for UK charities to write a cheque are:
- Paying suppliers
- Making payments to other organisations
- Paying expenses to non-salaried staff and volunteers
- Pay beneficiaries or fund projects
- Pay regular bills such as rent and utilities
- Pay refunds
For the majority of UK charities, the research states, cheques allow control over who in the organisation can make payments and leave a clear paper trail. Being able to send a cheque by post and not having to know the account details of recipients are also popular reasons for cheque use.
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About Melanie May
Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via thepurplepim.com.