Cheques still alive and well, say Coutts, after reprieve for paper system

The proposal to scrap cheques provoked outrage from small businesses, charities and pensioner lobby groups, who accused the banks of ignoring the needs of millions of vulnerable people.

Cheque usage has declined by 70 per cent since 1990 and by 42 per cent in the past five years, according to the council, with usage expected to decline by a further 40 per cent during the coming five years.

Yesterday, a Treasury Committee report said that the “delays and uncertainty” that affect cheque payments should be reduced.

Coutts, which was founded in 1692, has long been synonymous with the 350-year-old paper payment system.

Richard Brown, client partner at Coutts in Leeds, said: “We warmly welcome this U-turn on cheques, as do many of our clients. Over 60 per cent of Coutts clients use cheques and lots of our clients in Yorkshire are active users of the paper payment system for their convenience. In particular, this is true for trusts, where cheques provide an easy way for all trustees to sign off and make a payment.”

He added: “On average 50 cheques are issued each year for individual personal accounts at Coutts, or around a one per week if averaged over the year, and 100 cheques are issued per non-personal account, proving the payment method is a part of everyday financial life for many people.”

Coutts’s archive contains a number of original cheques signed by customers of the bank including Charles Dickens.

In 1980, a cheque passed through the bank written on a pair of ladies’ briefs.