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Cheque guarantee cards discontinued

There have been some recent changes to cheque payments that painters and decorators need to be aware of.

On 30th June 2011, the Cheque Guarantee Card Scheme was withdrawn. Previously, recipients of the paper-based payment could be assured that even if the customer's bank account didn't contain sufficient funds, if they were a member, then the money owed would still be advanced.

People in the scheme had a plastic card containing a hologram of Shakespeare, which could usually guarantee cheques up to a maximum of £50, £100 or 250.

The removal of the Cheque Guarantee Card Scheme is part of the UK Payments Council current strategy to discontinue cheques altogether by 2018.

For more information, go to: www.paymentscouncil.org.uk

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