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    Cheque guarantee cards 'could return'

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    Mr007

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    Cheque guarantee cards 'could return'

    Post by Mr007 on Wed Nov 16, 2011 2:44 am


    Cheque guarantee number being written on the back of a cheque The abolition of the guarantee spelled the end of putting a card number on the back of a cheque
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    The abolition of cheque guarantee cards is being reviewed and could lead to a return of the scheme.

    The system, which ensured that some cheques up to £50 or £100 were honoured, ended at the end of June.

    But the Payments Council, which oversees payments strategy, said it was looking at whether shops were less likely to accept cheques as a result.

    A Commons Treasury Committee said that there was a case for the scheme, or something similar, to be brought back.

    "Without such a scheme there is a risk that more and more shops and other bodies will refuse to accept cheques; the cheque would wither on the vine," the committee said.

    The Payments Council said a return of cheque guarantees was not being ruled out, or ruled in, at this stage.

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