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Last updated November 2015

Cheques reprieved

Following representations by ACO and ACO member Malcolm Williams of the Shipwrecked Fishermen and Mariners’ Royal Benevolent Society, it has been announced that cheques will continue for as long as customers need them and the target for possible closure of the cheque clearing in 2018 has been cancelled.

Richard North, the Chairman of the Payments Council said:

“Over the last two years we have learnt a great deal about what is important to our many stakeholders and we are really grateful to all of those groups and individuals who took the time to talk to us and help us reach this decision. We will use what we’ve learnt to keep improving existing systems, as well as introducing innovation, so that customers benefit from 21st century ways to pay. Innovation must be at the heart of what we do.”

ACO will continue to work with the Payments Council to focus on security, efficiency and encouraging innovation in all types of payments to ensure members have options best suited to their needs and those of their donors and beneficiaries. One example of this work is where bank customers use multiple authorisation to approve payments by cheque. We understand alternative multiple authorisation functionality will be developed through internet or telephone banking, by the end of 2013 and will want to ensure this transition is well communicated and to ensure that the option to use multiple authorisation cheques will continue. The Payments Council publish an updated National Payments Plan in the autumn.

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