Cheques

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dragonskie2000
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Cheques

Postby dragonskie2000 » Wed Sep 01, 2010 1:19 pm

Has anyone else had this (or taken) on their new cheque books? On the back of each cheque it now says: "Please note: This cheque is not to be used in conjunction with a cheque guarantee card"

The bank (Santander) tells me it's because they are fazing out cheques..... OK, but will you still guarantee to pay my cheques? Um...not sure, we are fazing out cheques. (I'll sorten this here as it took half an hour to explain about small traders and the limited ways of payment when your in the middle of a field). I didn't get a satisfactory answer.

So does anyone else know more - or more to the point would people still be happy taking these cheques? Didn't notice the info on the back untill the second cheque.



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John Waller
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Re: Cheques

Postby John Waller » Wed Sep 01, 2010 1:49 pm

dragonskie2000 wrote:Has anyone else had this (or taken) on their new cheque books? On the back of each cheque it now says: "Please note: This cheque is not to be used in conjunction with a cheque guarantee card"

The bank (Santander) tells me it's because they are fazing out cheques..... OK, but will you still guarantee to pay my cheques? Um...not sure, we are fazing out cheques. (I'll sorten this here as it took half an hour to explain about small traders and the limited ways of payment when your in the middle of a field). I didn't get a satisfactory answer.

So does anyone else know more - or more to the point would people still be happy taking these cheques? Didn't notice the info on the back untill the second cheque.


Oh great! We just had to get a cheque account with Santander because they would no longer issue counter cheques for less than £1000 with a pass book account. Now they plan to scrap cheques!


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JAYS
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Re: Cheques

Postby JAYS » Fri Sep 03, 2010 9:30 pm

Just checked ( lol) my new cheque book and there is no mention of not using a card. Thats RBS. I was in my branch last week and mentioned the planned phasing out of cheques and was told that it had been put back to 2015 because of problems with traders etc. May be it differs from bank to bank?



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nathan
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Re: Cheques

Postby nathan » Fri Sep 03, 2010 10:56 pm

The big banks hate cheques, they are constant fraud targets and therefore expensive to process. Most mainstream retailers stopped taking cheques for day-to-day transactions years ago because of this (started with the Supermarkets).

Basically what that wording is trying to do is put the risk on to the vendor (where frankly it has always been with a cheque anyway) and to stop the presenting bank insisting that it be paid (as a correctly presented guarantee card does give some weight to this).

I'm not as up on this as I used to be but i haven't heard of any hard dates within the industry to completely phase cheques out (banks still sometimes use them to pay each other). Until the banks come up with a convenient way to buy a second-hand car, pay a plumber/electrician etc i honestly don't expect them to vanish altogether, but fewer and fewer people are going to be issued them by banks (they tried to take them off me as a 'green' thing when i asked them to stop sending me paper statements).


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Eve
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Re: Cheques

Postby Eve » Sat Sep 04, 2010 5:38 am

I've just had a new debit card from the Nationwide that states (in the leaflet they sent with it) that it isn't a cheque guarantee card. I think they are phasing out cheques by the back door!



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Lionheart Replicas
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Re: Cheques

Postby Lionheart Replicas » Sun Sep 05, 2010 12:26 pm

From 30th June 2011 the cheque guarantee card scheme is ending, meaning that no cheque will be able to be guaranteed. Cheques themselves are not ending, but of course they will become virtually obsolete for ‘face to face’ transactions where the seller cannot clear a cheque before releasing the goods – obviously very bad news for market traders etc who are still happy to accept guaranteed cheques.
I only found out about this as I operate a business bank account & it does seem to have been kept rather quite in general. I would guess from the wording on that cheque that some banks are phasing the end of the scheme in early.

More info here
http://www.ukpayments.org.uk/media_cent ... /page/719/

Colin



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Pete the Pong
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Re: Cheques

Postby Pete the Pong » Mon Sep 06, 2010 1:38 am

Having said all this, I (personally) don't think that we have too much to worry about. We are far too specialised and virtually all of our customers genuinely want our products and are prepared to pay for them honestly. In the last 38 years of trading (yup, that long :sweat: ) I have only ever had two bounced cheques!!!! And if you ever read the small print the old "cheque guarantee card" was virtually worthless anyway, as it was not valid if there were no funds and no credit in the account!!!!


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Lionheart Replicas
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Re: Cheques

Postby Lionheart Replicas » Mon Sep 06, 2010 9:58 am

Like you Pete I have had very few bounced cheques (one that I can remember) in 15 years of trading & I often don’t even bother with a guarantee card from re enactors as, in general, they are an honest & reliable bunch.
The problem of course will be that in the real world virtually every shop etc will stop accepting cheques once the guarantee card system ends, and that will get people out of the habit of carrying their cheque books as they will understandably believe that they are obsolete for ‘face to face’ transactions.

Colin



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Lady Jane Rochester
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Re: Cheques

Postby Lady Jane Rochester » Tue Sep 14, 2010 7:34 am

I was in Lloyds TSB yesterday and was told that cheques are being phased out, so it looks like it is universal.

JR


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