Cheques to go by 2018

The banks must find a simple alternative to cheques in order to make their elimination easy and manageable for businesses, it has been claimed.

The UK Payments Council announced today that cheques in the UK would be phased out by October 2018. The board said the use of them was in ‘terminal decline’.

The Forum of Private Business (FPB) said while it understood many business owners may have serious concerns over the decision, it was not opposed, in principle, to phasing out cheques.

However, the business group said a suitable alternative must be found before the 2018 date.

Read more: http://www.startups.co.uk/6678842907445519817/cheques-to-go-by-2018.html

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