Cheques Explained

UK is unusual amongst European countries in that we still use a lot of cheques.  There was a plan to phase them out by the end of October 2018, but it’s been shelved – too many people use them and rely on them, chiefly the elderly, charities and small businesses.

Cheques Explained - The Importance - Debt Consolidation LoansCheque usage has declined sharply over the years since the peak in 1990, when some four billion cheques were written – 11 million cheques each and every day.  Various efforts were made to spice up their appearance, with illustrations, and in 1995 Lloyds Bank introduced left-handed cheque books for their more ‘sinister’ customers.

The first major retailer to stop accepting cheques was Shell in 2005, and by 2008 most major retailers had followed suit; Harrods was the last, holding out until 1st July 2011.

Some predict that cheques, along with the 1p coin, will be gone by 2023.  If so, they will have had a good innings – more than 360 years since the earliest known surviving English cheque was written, dated 16th February 1659.

In theory, a cheque can be written on anything portable – a pig, for example.

Debt Consolidation Loans are a UK based Debt Consolidation Loans Broker, We can help with any form of Debt Consolidation you may need.

 

Visitors also read:

Debt Consolidation Loan Calculator - Debt Consolidation LoansDebt Consolidation
December 7, 2019

Debt Consolidation Loan Calculator

Debt Consolidation Loan Calculator  In order to quickly establish if you are a potential applicant for a debt consolidation loan, then it’s worth having a look at a very handy…
Universal Credit delays causing UK families to be burdened with extra debtDebt Consolidation
July 11, 2020

Universal Credit delays causing UK families to be burdened with extra debt

Universal Credit delays causing UK families to be burdened with extra debt A damning report released this week by the National Audit Office (NAO) has highlighted that a staggering 80…
Coronavirus Debt - Debt Consolidation LoansDebt Solutions
April 2, 2020

Coronavirus Debt

Coronavirus Debt With COVID-19 Coronavirus affecting everyone's lives, you might find that your financial situation isn't quite as secure as it was. Perhaps you felt that you were managing your…
Debts-CoronavirusDebt ConsolidationDebt Solutions
April 11, 2020

Debts Coronavirus

Debts Coronavirus 3 tips for managing debt during the Coronavirus pandemic Employment is a big factor that is being impacted amidst the covid-19 pandemic. A lot of people who currently…
what is a debt management planGuidesHow To's
August 23, 2015

Have You Planned for an Interest Rates Rise?

What Is An Interest Rates Rise? Have you planned for an interest rates rise? There is growing speculation that an interest rates rise will be on the cards after Mark…
How much debt is too much debt - Debt Consolidation LoansDebt Consolidation
June 11, 2020

How much debt is too much debt

How much debt is too much debt How much debt is too much debt - Debt consolidation loans can help you out with any debt issues you may have. Properly…

Leave a Reply

15 − ten =