Cheque use under review


Friday, 19 August, 2011


The Australian Payments Clearing Association has launched a review which may result in cheques being eliminated as a payment method.

While cheque numbers have been steadily declining for more than a decade, Reserve Bank of Australia figures show that cheque use in Australia has declined by more than35% in the last four years.

Recent research commissioned by APCA found that 75% of consumers do not use cheques at all. However, 5% of Australians believe they would have a major problem finding an alternative to using cheques. These consumers are predominantly the elderly, rurally isolated and unwaged.

A consultation paper is available at www.apca.com.au. Submissions are due by 29 July 2011.

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