The banks are proclaiming that they have “saved cheques” and all is well with the world. This is one of the great cons of our time, in my opinion. Who is going to accept a cheque in a shop or garage etc with no guarantee of payment? The abolition of cheque guarantee through your card is effectively the end of cheques.
Where I live, we have garages that do not accept cheques, shops that don’t and now some companies are refusing to accept cheques even for payment of bills by post – a slow but previously useful way for many older people to maintain control of their own affairs.
Okay, so paying by direct debit may be more efficient, but not everyone is comfortable with the fact that this really means the company can draw money directly from your account – and variable amounts at that. I would mind a bit less if the banks were being more honest about the reality of “saving cheques”, but I really object to them giving with one hand and taking with the other.
Let me know your thoughts.