Will the UK Abolish Check Clearing?

UK May Abolish Check Clearing

Bank Technology News  |  November, 2009

by John Adams



The trend toward cards and electronic payments has become strong enough that the largest banks in the United Kingdom are scheduled to vote soon on whether to stop clearing checks.



Members of the United Kingdom’s Payments Council, consisting of banks, are scheduled to vote in Dec. 16, with an announcement on the vote scheduled for January. A deadline for the end of check clearing was not announced, but 2018 has been floated by the Council as a possible deadline during past deliberations on the subject.



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