Which banks are phasing out cheques?
BNZ announced they aim to phase-out cheques by July 2021 and ANZ have discontinued the use of cheques at the end of May 2021. Westpac and Rabobank will stop accepting cheques from the end of June 2021.
Are banks stopping cheques?
Are cheques being phased out? No. The Payments Council announced on 12 July 2011 that cheques will continue for as long as customers need them. A previously announced target for closing the cheque clearing system by 2018 has been cancelled.
Can you still use cheques 2020?
Technically speaking, cheques don’t have an expiry date. But, in practice, banks will usually reject a cheque if you try to pay it in or cash it more than six months from the date of issue – that’s the date written on the cheque.
Does anyone use cheques anymore?
It will be a while yet before the UK becomes totally cashless – and yes cheques certainly still have a part to play in financial transactions. In fact, in 2018, there were more than 405 million cheques being used for payments or to acquire cash, according to the Cheque & Credit Clearing Company.
Why are cheques being discontinued?
Press Release: Stroke Central New Zealand As of 1st July 2021, most banks will no longer accept cheques as a method to make or receive payments. This is going to particularly affect the elderly and disabled population as well as the charities they support.
How do I pay without a cheque?
Cashless Transactions: 11 Ways of Payment Without Currency Notes
- Cheques.
- Demand Drafts.
- Debit Card.
- Credit Card.
- Smart Cards.
- Net Banking / Online Payment.
- UPI Payment Apps – Advanced Cashless Transaction.
- NEFT.
Do people still use cheques in 2021?
The Cheque and Credit Clearing Company, which manages cheque-clearing in the UK, introduced the Image Clearing System in 2018. You can still use cheques exactly as you do now, with some convenient benefits.
Can companies refuse to accept cheques?
Cheques are not legal tender and never have been. Even today, if you owe someone money they are not obliged to accept a cheque. A creditor is entitled to be paid in legal tender and can refuse payment in any other form.
When did cheques stop?
Changes might not be as fast comapred to other parts of the world, but the UK is definitely going to the direction of a cheque free society. In 2005, Shell decided not to accept cheques anymore, and a lot of retailers are following suit.
What can I use instead of a cheque?
If you need to pay someone and don’t want to use cash or write a personal check, you can use a money order or cashier’s check instead.