Task Force to Examine Cheques
Working group chaired by OFT to look into consumer issues relating to cheques
8th November 2005
A task force chaired by the Office of Fair Trading (OFT) is to turn its attention to cheques and related issues in the next phase of its review of the UK banking system.
The working group is to look into whether consumers fully understand what 'cheque clearing' means and whether there would be any benefit to consumers or businesses in speeding up the process.
The group will also look at whether any changes to the chequeing system would be worth the expenses involved, and how the costs and benefits of using cheques compare with other payment methods.
A report is due next summer, after which the task force will move on to to examining the UK's ATM and card payment networks.
Read More: OFT Press Release
|
More on Cheques : Boots Trials Cheque Ban (News, 12/09/2006), Lloyds to Offer 'Instant Interest' on Cheque Deposits (News, 26/04/2006), New Practices to reduce Cheque Fraud (News, 07/12/2005), Lloyds Launches Cheque Book by Text Service (News, 15/11/2005), Cheques Extinct by 2025 (News, 12/08/2005) |
Home - Banking
