Central Banking

UK eyes 2018 cheque-out

The UK is moving towards closing cheque clearing within a decade, Paul Smee, the chief executive of the UK Payment Council, told an industry conference in London.

"Everybody is prepared to contemplate a future without cheques," he said in reference to an extensive consulting process being carried out with user groups from different sectors of society. This included groups felt to be most likely to want to retain cheques, notably the aged.

A key part of the national payments plan proposed by th

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