Paying by cheque?

Question

Why oh why are shops not going to take cheques anymore? Some have already stopped

Answer 1

many shops nowadays don't accept them because many people can get an item purchased without real proof that they have the funds in their banks with the use of a cheque. Not only will it cost the shop money on a non sufficient cheque but it will cost the customer as well. Also cheques can be stolen therefore a signature can be forged, and the store not being able to get their money on an item purchased ever. I have worked in retail before and that is one of the many reasons why they no longer accept cheques!

Answer 2

As someone who runs a small business visiting clients the accounting I have to do for people who insist on paying small amounts by cheque is equivalent to having to write down the number of every note I bank. Also I don't have use of the funds until four days after the cheque is banked. In short cheques are a pain in the ****. That's apart from any security risk: banks can claw back money even after a cheque is cleared.

Answer 3

The Cheque was invented, so that you didn't have to carry large sums of Cash. (Credit notes of this type date back to biblical times). The Cheque Guarantee Card was invented to allow its continued use in a more modern society, where honour doesn't come into the equation!
With the advent of Digital Banking Technology's, (particularly with regard to portable/ handheld units.)The humble Cheque has become useless to most business and only good for Person to Person transactions (Sorry, I don't carry a Switch Machine in my Wallet!) and postal purchasing.
The fact is, digital money is taking over from physical cash as well and not just the cheque.

Answer 4

Most shops don't bother training their staff on handiling cheques because most people use cash or credit/debit cards... It holds other people up at the tills, causing problems. Sooo... they've stopped - and I for one am glad because some spotty youth is not going to be able to ensure that my cheque book has not got someone else using it - the sooner credit cards have photos on, the better, as far as I am concerned!

Answer 5

Hi!

Over the past twelve months, the banks (Barclays in particular) have increased their business account charges MASSIVELY!

So it costs the shop money to deposit the cheque, then they have to wait five days for the cheque to clear - one day when paying it in, three days for it to get through the 'system', then on the fifth day it clears.

Not to mention the time it takes for someone to have to physically take the cheque to the bank - more increase in staff costs.

Hope this helps!

Answer 6

Because it just wastes other peoples time.. why exactly do you need a cheque when a cheque card is just as functional and internet banking allows you to keep check *excuse pun* of your finances.

It irritates me when someone in a really busy supermarket insists on having their cheque printed.

Answer 7

It's the way of the times, times are changing - pretty soon there won't even be currency anymore I reckon...

Cheques are too risky now, and merchants services are becoming alot easier to use, and more widely recognised....

Answer 8

Too many bounced checks, whereas credit/debit cards are checked electronically at the time of the purchase. Shop keepers get tired of being ripped off.

Answer 9

I hadn't noticed this trend, I tend to use Switch.
It's probably due to the additional administration costs.

Answer 10

They take time to clear and they are not secure.