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The banks are planning to meet in December to vote on getting rid of cheques once and for all.

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What do you think of this? Personally I never use cheques anymore, but as a debt collector I need every available payment instrument so that I can get what is owed, so am hoping they stick around for a little while longer.

We haven't accepted cheques for quite a while - well - thats a fib. We state that we "only accept cheques by prior arrangement" - something we put in place when we entered a situation where we started to have more clients making more, smaller payments.

In reality we'll often agree for someone to pay by cheque if it's the most reasonable method for them - but on the other hand, I'd be quite glad to see the back of 'em (literally!) and to get everyone moved over to online payment - we'll be integrating invoice payment into our website soon, which will open up a new avenue besides BACS..

I can't stand cheques!! They take far too long to clear, and the audit trail is virtually non existence. A few years ago I stop paying any of our suppliers by cheque and moved it all to BAC's, but I guess for someone in your role the more options for payment the better.

Ironically, I've just had to write a cheque to pay my income tax for this month (system is different here in Jersey) - because nowhere on the paperwork, or website does the tax dept here provide account details so you can pay by IB - even though they actively encourage people to do so!

Well,

If the banks get rid of cheques I guess we'll never get paid! LOL

About 90% of our customers use cheques to pay us. When dealing B2B as we do not many have credit cards that they are willing to use (particularly the charitable sector).

Plus who wants to be charged the 2%+ for credit card transaction fees?

Interesting one to keep an eye on me thinks.

Regards,


David

90% of ours is via PDQ/Streamline.

But everybody gets paid by cheque. Ask Kip.

Dinosaur! :)

Kip FX Design wrote:Dinosaur! :)

Totally agree with you there Kip ;)

However, there is still a need for cheques. Just ask my daughters school, they are forever asking for a cheque for this and a cheque for that, and as my pizza shop delivers but doesnt do credit cards its the only way I can be idle at short notice!

The danger with cheques is the time they take to arrive (someone sent me a cheque a week and a half ago and it still hasnt come and yes I do believe them as it wasnt to pay a bill, lol). Then you have to make time to visit the bank, then you have to wait for it to clear!

My invoices all contain my bank details, I prefer payment by BACS, it is instant in a lot of cases these days (apart from coming into my A&L account for some reason) and it doesnt cost me.

I am considering accepting online payment for the call answering service I am about to launch, as I need to ensure that it is prepaid, that cant be done by cheque.

The problem is, there are still those who prefer to use cheques, not everyone trusts online banking, not everyone has access to online banking, do we really want to alienate that whole market.

So no I don't do cheques, unless you are a dinosaur, and we have agreed it in advance ;)