Pauline welcomes cheque book changes

Checking: Coun Pauline Nash
Checking: Coun Pauline Nash

EFFORTS to prevent cheques being scrapped by 2018 have been welcomed by Coun Pauline Nash.

She led moves by Calderdale Council to try to preserve cheques when it appeared that banks were going to phase them out.

The Financial Services Bill, currently going through Parliament, will transfer responsibility for the cheque system to the new financial watchdog, the Financial Conduct Authority.

Banks will have to consult the FCA before making any changes to the cheques system and could face large fines if they do not comply with their ruling.

Councillor Nash (Lib-Dem, Skircoat) said she would like the FCA to be given responsibility for maintaining the level of service offered to cheque users.

“We can’t let the banks get rid of cheques through the back door by charging hefty fees or making it difficult for customers to get hold of cheque books,” she said.