The Great British Cheque Report - Cheque and Credit Clearing ...

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10 The futureSo what next for the Great British Cheque?The UK enjoys one of the best, most efficient and variedpayment systems in the world. We are a nation increasinglyconfident in managing our household bills, shopping and oneoffpayments from our homes or offices, and 24-hour paymentsystems and services have developed to suit our increasinglybusy lifestyles.In May 2008 the Payments Council published the first-everNational Payments Plan, setting strategy for payments for the nextten years. A main focus of the Plan is the future of cheques, anda major programme of work has been initiated to develop a set ofactions to address this. These will include a timetable for developingalternatives to cheques, an objective review of the UK DomesticCheque Guarantee Card Scheme, an education andmarketing plan on alternatives to cheques and, potentially,a target end date for the cheque clearing. The Plan highlightsthat the long-term decline of cheques needs to be managedcarefully, and the Payments Council has emphasised thatacceptable alternative arrangements to cheques have to beavailable to all users before the closure of the cheque clearingcan be seriously contemplated.28The Great British Cheque Report
0.80.60.40.20.0200820092010201120122013201420152016201720082009Volume (billions)201020112012201320142015201620172008200920102011201220132014201520162017Personal paymentsBusiness paymentsCash acquisitionUK cheque transaction volume forecast (billions)The Great British Cheque Report 29
Page 1: The GreatBritish ChequeReport
Page 9 and 10: Example of an early cheque from the
Page 11 and 12: of England joined in 1864. In more
Page 13 and 14: never have been - legal tender. Eve
Page 15 and 16: The 2-4-6 timescaleDaye.g. MondayTh
Page 17 and 18: 4FactIf all the cheques that went t
Page 19 and 20: The cheque has also played a big pa
Page 21 and 22: Cheques out at the checkoutThe shar
Page 23 and 24: Credit card bill payments2001 2004
Page 25 and 26: RegionPercentage of adultsregularly
Page 27 and 28: 8 Euro cheques in the UK2009 marks
Page 29: 9 International cheque usageCheque
Page 33 and 34: • Determine the rules required to

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