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Cheque payments to be discontinued in Ireland from 2016.


The Field Marshal

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All cheque based payments are likely to be discontinued in Ireland from 2016
This is not alarmist but terrifyingly real please read on.

The British intend to abolish all cheque usage by 2018.
[Source
Payments Council - 2018 target date set for closure of central cheque clearing]

The Irish intend to do same by 2016

[Source:
http://www.paymentscouncil.org.uk/files/the_future_of_cheques_-_dec_2009.pdf]

The Irish payment
association has set a target end-date for cheques in 2016, with government
support in the form of recent changes in the stamp duty on cheques versus other
payments.


Already the squeeze for electronic transfer only payments for conveyancing is being placed on the Law Society
[Source Irish Payment Services Organisation - Home]

[Download their newsletter to view nice photo of nice legal people with nice payments services people.]

Do Irish people want to see the complete end of paper based financial transactions?

Stop this madness and pay only by cheque from now on
 
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mmrebel

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How about we drag this country into the 21st century why would anyone want to get paid by check when it can take up to 5 working days to clear :rolleyes:
 

The Field Marshal

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How about we drag this country into the 21st century why would anyone want to get paid by check when it can take up to 5 working days to clear :rolleyes:
Well ok.

We had electronic voting ,it failed due to security concerns.

Electronic transfers of money etc only works where the recipient has internt/compu facilities.
This is not always the case.

Cheques can be written person to person and handed on without any electronic interface.

Digital electronic date on bank accounts is not secure as evidenced by carelessness of officials etc.

The proposed abolition of the cheque book system is so radical that a national debate on same should happen.

The 5 day clearance system that you criticize represents a fall back for the issuer of a cheque who can cancel same.

Electronic transfers do not afford any such security as they are instantaneous.

Irish people on average write twice as many cheques as their UK counterparts.
 

mmrebel

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Well ok.

The 5 day clearance system that you criticize represents a fall back for the issuer of a cheque who can cancel same.

Electronic transfers do not afford any such security as they are instantaneous.

Irish people on average write twice as many cheques as their UK counterparts.
In most European countries cheques are cleared within 24hrs would you like to know what AIB and BOI do with you money in the other 4 days they gamble with it on the stock market.
 

kerdasi amaq

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This is outrageous, I like getting cheques, but, cash is money, in a way digital accounts can never be! It's the coming of the beast.
 

flamez911

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Yes, the abolition of the chequebook is certainly a sign that the Antichrist has risen to take the earth into a thousand years of darkness. Just like the Lisbon Treaty was. And the legalization of homosexuality. So was divorce, for that matter.
 

zakalwe1

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The Field Marshal

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Yes, the abolition of the chequebook is certainly a sign that the Antichrist has risen to take the earth into a thousand years of darkness. Just like the Lisbon Treaty was. And the legalization of homosexuality. So was divorce, for that matter.
Is there some point in these bizzare ramblings.

You either agree/disagree/dont care , with cheque book abolition.

If you have some point or contribution to make to the thread please make it.
 

darkhorse

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a lot of people especially businesses like to pay by clear because it takes those 5 days to clear
add to that the postal delay in sending the cheque
add to that they probably wont lodge on the day it arrives
thats one extra weeks credit.... free
 

The Field Marshal

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dunno

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a lot of people especially businesses like to pay by clear because it takes those 5 days to clear
add to that the postal delay in sending the cheque
add to that they probably wont lodge on the day it arrives
thats one extra weeks credit.... free
How will 'the cheque is in the post' work now?
 

The Field Marshal

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In most European countries cheques are cleared within 24hrs would you like to know what AIB and BOI do with you money in the other 4 days they gamble with it on the stock market.
And is,nt that great.
It means the Banks can generate some badly needed profits.
It also means they contribute to the vibrancy of the stock exchanges[,badly needed in these difficult times]

However your beef is with the time needed to clear cheques.
There will be no cheques to clear at all if the UK and Irish proposals procede as planned in 2016-2018.

Retrograde steps in diminishing choices of paper based financial transactions only diminish human freedom.
 

mmrebel

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And is,nt that great.
It means the Banks can generate some badly needed profits.
It also means they contribute to the vibrancy of the stock exchanges[,badly needed in these difficult times]
.
And what about the hard pressed buisness man waiting to get paid ??:rolleyes:
 

The Field Marshal

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And what about the hard pressed buisness man waiting to get paid ??:rolleyes:
If hes that hard pressed,etc there are many alternatives including cash. Eg he could insist on payment by bank draft and present it for payment on date of issue or within 24 hrs if he wanted.
[Please stop rolling your eyes so much. Continually rolling eyes in that manner will result in severe irreversible strabismus]
 

candide2

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This change seems to have been planned for some time. There was a conference on electronic payments 3 years ago in Dublin hosted by the Irish Payments Services Organisation and the Department of the Taoiseach.

A report of the conferences and some of the papers here:
Irish Payment Services Organisation - National Payments Conference 2006

There are some very interesting data from Colm McCarthy's research. For example 71% of those with no card of any kind are in the 55+ age group and they are very opposed to the change.
 

johnfás

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Cheques still have a valuable purpose, just a few examples:

1. For making payment for services - such as to a builder. A cheque is the most appropriate means of payment as it can be paid on demand, that is you don't have to go down to the bank or have online banking, but is not cash.

2. For the sale of valuable personal assets between private parties. For example, the private sale of a car or a piece of art.

3. In the professions a post dated cheque is often issued as a form of debt.
 

Stroke

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Proper order, too. Cheques are an antiquated way of payment, Scandinavians are laughing at this quaint historical practice......
 

Clanrickard

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Proper order, too. Cheques are an antiquated way of payment, Scandinavians are laughing at this quaint historical practice......
I don't give a monkeys about Scandinavians or any other avians. If you are in business cheques are useful. If you have a cheque it is an admission of liability and can be post dated. Electronic transfer is great if you have top class internet connections but will we have by 2016. I lost a payment of 612 euro. Paid it to a reputable company and it dissapeared without trace into cyberspace.
 

The Field Marshal

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Read the derogatory remarks of the Mr Stewart Mc Kinnon Chief Executive
Irish Payment Services Organisation presented in Dec 2006 at Dublin Castle

towards those who do not have bank accounts.

They are described by him as the UNBANKED.
Like the unwashed or the lower caste sytem in India.

Mc Kinnenon also wants to stigmatize the use of cash transactions by making them socially unacceptable.


Irish Payment Services Organisation - National Payments Conference 2006.

write a cheque today to stop these dangerous lunatics
 
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