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Cheques saved from extinction

Following the recent debate over the replacement of cheques, painters and decorators may now be pleased to hear that cheques are here to stay!

MPs criticised the Payments Council's plans to abolish the paper-based payment by 2018 after they found that millions of customers and small businesses would be left without an alternative if they were to be scrapped.

The Treasury Select Committee found that abolishing cheques would upset consumers, particularly the elderly and vulnerable who rely on them for their day-to-day transactions.

As a result of the feedback, the Payments Council has now abolished the previous deadline and announced that cheques will continue for as long as customers need them.

For more information, visit: www.parliament.uk/treascom.

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