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WILLOTT CALLS ON BANKS TO 'SAVE THE CHEQUE'

December 3, 2009 12:00 AM

Today, Welsh Liberal Democrat MP of Cardiff Central MP, Jenny Willott, threw her weight behind a campaign to stop high street banks scrapping cheques as a method of payment.

The move comes ahead of a meeting on 16th December of the Payments Council, a 15-strong board of representatives from the banking industry, who will decide whether or not to scrap the use of cheques.

Although cheque useage is slowly falling, over four million cheques are written everyday in the UK - around 200,000 a day in Wales. Cheque useage is particularly high amongst the elderly.

Commenting, Jenny said:

"Scrapping the cheque will hugely inconvenience people in Wales, especially the elderly.

"The cheque is still a fundamental part of people's everyday lives. Around 73 million cheques are written in Wales every year.

"For many people, cheques are seen as a safer and easier way to keep tabs on how much they are spending compared to paying by card or online transfers.

"There are a huge range of businesses that rely on cheque payments rather than by cash or cards. These can be far less secure and using cards have significant fees attached to them.

"Banks need to bare in mind that, while it may suit them to get rid of cheques, it will negatively impact on many of their customers and smaller businesses.

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