The Payments Council has been consulting on the proposed phasing out of cheques. This exercise was originally expected to be completed by 2018.

However, the timetable was thrown into doubt in the light of concerns expressed by the Treasury Select Committee in June 2011. In a major change of policy, the Payments Council has now announced that cheques will continue after all. In a statement issued on 12 July, the Payments Council said:

‘Given the continued confusion and alarm that the target date on cheques is causing customers and organisations alike, the Payments Council has decided that cheques should continue for as long as customers need them and the target for possible closure of the cheque clearing in 2018 has been cancelled.’