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Cheque Replacement Update

Payments Council to keep cheques and cancels 2018 target

The Payments Council has announced that the 2018 target date for closure of the cheque clearing has been withdrawn, effectively meaning that cheques will continue for as long as customers need them. This is a welcome move. RBS Group has been clear for some time that we don’t support a fixed deadline and will continue to offer cheques as long as our customers need them.

The Payments Council Board has agreed its focus continues to be on security, efficiency and encouraging innovation in all types of payments to ensure customers have options best suited to the 21st century.

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