BGN Entrepreneur

Cheques have been decreasing in popularity for a number of years, with only one in 25 payments in the UK now being made using them. In December, the Payments Council announced that they intend to phase them out altogether by 2018.
Most payments can now be made more efficiently, and securely, via cards and electronic means, viewd as being greener ever since cheques have to be physically transported for clearing.
Nevertheless, acknoledging that a number of individuals and groups, including SMEs, still rely on cheques for payments, the Council have issued an assurance that they will not withdraw them without sufficient, readily understood alternatives in place.

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