After more than three centuries of successful use, Britain is ready to abandon an important payment instrument of the past - perhaps bank checks will soon become a thing of the past, giving way to more modern payment methods.
British Council Payments CouncilThe UK's payment systems strategy organization is discussing the question of whether to stop servicing checks by 2018. Recall, it includes representatives of the country's leading banks.
Many supermarkets, small stores, and gas stations have stopped accepting checks. It is mostly pensioners who remain loyal to the old method of payment.
Over the past 10 years, customers have begun to switch in droves to electronic payments or use other modern methods. And, while in 1990 10.9 million checks were written every day, last year it was only 3.8 million.