Related Credit Card Article

"Cheque payments being phased out"

By admin | March 18th, 2008 | Credit Cards

Over the years many consumers in the UK have become used to making payment for goods and services by way of a cheque, even in places such as shops and supermarkets. However, recent research shows that cheque payments could soon become a thing of the past in many areas, with fewer and fewer retailers wishing to undertake the time and hassle involved in processing cheques. More and more people are now using credit and debit cards to make cashless transactions rather than cheques, which is why many retailers have decided to stop accepting cheque payments.

Sainsbury’s, the supermarket giant, is the latest in a long line of retailers that has decided that cheque payments are not worth the hassle and time involved in processing, and as such the supermarket chain has decided to stop accepting cheque payments as of the beginning of August in its supermarkets. One official from Sainsbury’s stated that fewer and fewer customers were opting to pay by cheque these days, and therefore it was not really worth keeping this method of payment on.

A number of other retailers have decided to stop accepting cheques as a method of payment, and this includes WH Smith, Morrisons, Boots, Asda, and Shell. With most people making payment for goods by credit and debit card, the decision of these retailers to stop accepting cheque payments will affect the minority rather than the majority. It is likely that this decision will also have an impact on the number of transactions being made by card, as all those that did tend to pay by cheque at retailers such as these will now have to look at an alternative methods of payment. The number of card transactions made each year has already been rising over recent years.

Tags: Credit Cards

Related Articles:

• Cheque use in UK continues to decline

  Recent reports have shown how the use of cheques in the UK is continuing to decline, further fuelled by a number of leading retailers now placing a ban on the use of cheques, branding them time consuming and costly to process given the reduced popularity of cheques as a method of payment. Paying by cheque...

• Credit cards to be used instead of cheques by elderly

  A recent report has suggested that many elderly people will turn to credit cards to make their various transactions once cheques are phased out. Saga Magazine has stated that whilst many industry officials have expressed concern over how elderly consumers will cope with cheques are phased out in the UK most are more than capable...

• Elderly will adapt to credit cards once cheques disappear

  After the recent announcements that cheques in the UK are to be phased out by the end of October 2018 a number of groups expressed concern that there would be many people that would be unable to cope with cheques to rely on, and one of these groups was the elderly. Concerns were expressed over...

• Consumers spent more on debit cards last year

  According to a report from the payment clearance agency, APACS, last year saw an increasing number of consumers turning to their debit cards to make purchases rather than turning to their credit cards or cheques. Officials from the agency said that last year saw a slowdown in credit card use, as the global credit crunch...

• Increase in debit card popularity

  A recent report has shown that there was an increase in the use of debit cards at UK retailers last year. Over the course of last year the level of spending on debit cards at retailers across the nation is said to have spiked by around 11%. Whilst consumers tend to enjoy the convenience and...

Other Recent Articles

Improvements to credit card lending

According to recent reports July saw improvements when it came to credit card lending in the UK, which many believe...

By Reno | September 2, 2010 | Read More

AA credit card makes changes in consumers’ favour

Changes have been made to AA credit cards that are designed to help consumers to save money on interest. In...

By Reno | September 2, 2010 | Read More

Good deals being limited by credit card providers

It has been claimed that good deals on credit cards are being limited by credit card providers, and although many...

By Reno | August 30, 2010 | Read More

Don’t lose your interest free facility on your credit card

Many people these days have interest free credit cards, and this is because these cards can offer great value for...

By Reno | August 27, 2010 | Read More

Default on credit card debt still big risk

It has been reported that banks and credit card providers are still viewing the possibility of defaults on credit card...

By Reno | August 27, 2010 | Read More