Cheque this out: Phase-out bad news for Aussie causes?

The days of writing out a cheque could well be numbered in Australia.

The Australian Payments Clearing Association (ACPA) is looking at the future of personal and bank cheques, seeking input on the future of this type of payment in Australia.

“Latest figures from the Reserve Bank show that cheque use in Australia has fallen by more than 35 per cent in the last four years, while research commissioned by APCA found that 75 per cent of consumers do not use cheques at all,” the Sydney Morning Herald reports.

“However it also found that 5 per cent of Australians believe they would have a major problem finding an alternative to using cheques. These are predominantly the elderly, rurally isolated and unwaged.”

Many not-for-profit organisations also rely heavily on cheques for their charitable appeals. This may be because donors tend to be older, or because there’s something special about a cheque.

In the UK, the charitable sector has been fighting abolition tooth and nail, with one UK charity estimating that 71 per cent of its donations came by cheque.

Vocal opposition from the not-for-profit and charitable sector helped spur an announcement in mid-July that the UK’s Payments Council had withdrawn its plans to abolish cheques in the UK.

“Listening to over 600 stakeholder groups, working with the banks and following our appearance before the Treasury Select Committee, we have concluded we should reassure customers that the cheque is staying,” the Council said.

The Council did note though that it could not “make guarantees” about what will happen further into the future, with cheque usage continuing to decline each year.

Meanwhile, Australian investigations continue.