Payments Council suggests withdrawal of cheque guarantee card scheme
The Payments Council has announced that the cheque guarantee card scheme is in "terminal decline" and suggests it should be phased out by 2011.
The Council carried out a review of the scheme and concluded that the withdrawal of guaranteed cheques would not cause any "significant problems". Research conducted as part of the review revealed that only a quarter of businesses said they had received a guaranteed cheque in the first six months of 2009.
For more on this story go to:
http://www.paymentscouncil.org.uk/media_centre/press_releases/83
To read the full Payments Council review go to:
http://www.paymentscouncil.org.uk/files/Cheque%20Guarantee%20Report%20June%202009.pdf
