If the sum written on the cheque is less than that, the bank guarantees to honour that cheque, even if the customer does not have sufficient money in his or her account. If the sum is greater than the guarantee, the bank offers no protection at all, even for the guaranteed amount. The person paying has to hand over the cheque in person.
In other words, you cannot put a cheque in the post and expect the guarantee to work. The person receiving it is the one who has to write the number on the back. Many cards now only have a debit function, but those that are also cheque guarantee cards have a hologram of William Shakespeare on the back. New research published by Age UK confirms that many elderly people are still particularly reliant on cheques.
However, guaranteeing payments has also cost the banks a fortune in fraud. Those people who need to use cheques are being advised to continue doing so. They will not disappear until at the earliest and that date may be changed in Hala Seliet, Sally Medcalf, Bijan Yousef-Zadeh, We called on the Payments Council However, cheques backed by a cheque guarantee card cannot be stopped although guarantee cards were abolished in June The cheque guarantee card was scrapped in June , a decision which the Treasury select committee said at the time that this decision Introduced in as the ' Cheque Guarantee Card ' and becoming the Debit and Credit card in , the way we pay for our goods and After listening to stakeholder groups, the trade body concluded that the cheque should stay, although the cheque guarantee card has been Peace campaigner Hetty presented an award to Stephanie Warren for her campaign to have the cheque guarantee card reinstated by banks.
The closure of the cheque guarantee card scheme in June "appeared to have little impact on the rate of decline" though. Despite their falling Cheque guarantee card scheme 'will not return'. Just over 40pc of consumers who had used their cheque guarantee card in the past 12 months were unaware that the scheme had closed.
Cheque guarantee card set to return. It says that if you receive a cheque, the funds will be in your account by the end of the sixth working day after you paid it in, "so this is the point when it's safe to release goods or services". Banks and building societies are contacting their customers before the end of June to inform them the scheme is ending, and to remind them they can continue to write and accept cheques.
Some banks will send people new cards without the logo before 30 June; others won't. Neither approach affects the timescale for the closure on 30 June. Not really.
In December the industry set a target date of October for the end of cheques. This will be reviewed in , "and will only go ahead if cheque alternatives are in place, are acceptable and are actually being used". These include debit and prepaid cards, and various ways of paying for items with your mobile phone.
It won't be long before Britons are using their handset to pay for items simply by placing it against the cash till reader — Visa has been testing the technology in Spain. Mobile-to-mobile payment systems are being developed where you pre-load your phone with cash and then pay the window cleaner by texting him, at which point the money instantly moves from your account to his.
David US English. Mark US English. Daniel British. Libby British. Mia British. Karen Australian. Hayley Australian. Natasha Australian. Veena Indian. Priya Indian. Neerja Indian. Zira US English. Oliver British. Wendy British.
0コメント