Cheques will stay, says Payments Council
Howard Lake | 12 July 2011 | News
Cheques will stay “for as long as customers need them”, the Payments Council announced today and said that the possible withdrawal date for cheques in 2018 has been scrapped.
Chairman of the Council Richard North 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. Over the last two years we have learnt a great deal about what is important to our many stakeholders and we are really grateful to all of those groups an individuals who took the time to talk to us and help us reach this decision.”
Simon Morrison, director of marketing and communications at the Institute of Fundraising said the institute was delighted at the decision. “This will make a world of difference to a lot of our members, especially as some charities currently receive up to 80 per cent of their funding by cheque.”
Previously released figures from CAF Bank show that it received 1.7m cheques worth £471m in the 2010/11 financial year. “Peter Mitchell, ceo of the bank said “We believe that this is great news for charities as many were extremely concerned about how to adapt to the potential loss of income that losing cheques might have brought.”
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.