Plan to abolish cheques abandoned

The financial body said on Tuesday that cheques would now continue to be available "for as long as customers need them". However, the cheque guarantee card was abolished on 30 June this year. Andrew Tyrie, chairman of the Treasury Select Committee (TSC) welcomed the council's decision. "[The decision] to get rid of cheques was taken without having thought through the consequences for millions of people," he said. "At last the Payments Council is concentrating on the right thing: making the existing cheque system faster and cheaper to operate. This will benefit both banks and to ...