CFDG respond to latest Treasury Committee future of cheques report
16th November 2011
The Government and Payment Councils’ responses to the Treasury Select Committee future of cheques report were published today.
Jane Tully, CFDG’s head of policy and public affairs, said: ‘While we understand that there were a number of valid reasons for withdrawing the cheque guarantee card, this has meant there is a significant gap left in user requirements. Many charities making mobile sales, for example, have no secure way of receiving non-cash payments as card terminal hire is simply too expensive.
‘If the cheque guarantee card scheme is no longer viable then it is important that there is an alternative mechanism to ensure cheques are accepted with confidence, and we therefore welcome the Payments Council’s decision to revisit this issue.
‘We would also stress that for progress to be made in this area it is important that payments methods and existing technology – like mobile card terminals - are made more accessible and affordable. Currently cost is a big barrier preventing charities move away from cheque use.’
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Notes to Editors:
1. CFDG is the charity that champions best practice in finance management in the voluntary sector. Our training and development programmes enable finance managers to give the essential leadership on finance strategy and management that their charities need. With more than 1,700 members, managing over £21bn, we are uniquely placed to challenge regulation which threatens the effective use of charity funds. For more information, please see www.cfdg.org.uk
2.CFDG’s submission to the Treasury Select Committee can be found on the CFDG website. Their statement in support of the cancellation of the target end date can be found here. For further information on CFDG's work on cheques, please contact Mel Jezierska at email@example.com or on 0207 250 8348.