The demise of the cheque could cause financial distress for older people – even debt worries – as they have become used to the form of payment, a char…
The demise of the cheque could cause financial distress for older people – even debt worries – as they have become used to the form of payment, a charity figure has suggested.
Dot Gibson, general secretary of the National Pensioners Convention – which seeks to promote the welfare and interests of the elderly – said a suitable replacement needs to be introduced to help people through the transition.
The Payments Council announced a target date of October 2018 for the demise of the currency type, but Ms Gibson fears this could be detrimental to those who are not electronically connected.
Of the older generation, she explained: “They aren’t all on the internet, using internet banking. Itâ€™s good for some, but not good for all.”
The decision to abolish the cheque was initially declared on December 16th 2009, with the Payments Council Board stating the form of payment would no longer be acceptable after October 31st 2018.
By Joe Shervin