MP Greg Knight has welcomed the announcement by British banks that they will now scrap their plan to abolish cheques.
The UK Payments Council, which represents the major banks, announced two years ago that cheques were to be abolished from 2018.
Mr Knight argued that the continuing use of cheques was vital for small clubs and voluntary associations, and that despite the emergence of electronic banking, scrapping the cheque would be totally unacceptable.
In May, following pressure from Mr Knight and other MPs, the Treasury Committee reopened its inquiry to look again at the effects of scrapping cheques. The Payments Council have given in and announced the banks will offer cheques ‘as long as customers need them’, according to their press release.
Mr Knight said: “I am delighted by the announcement.
“Axing the cheque is clearly in nobody’s interest other than the penny-pinching banks.
“It would have impacted us all, but the greatest victims would have been the elderly, the vulnerable, and many voluntary and sporting organisations.
“I am pleased the banks have finally seen sense, and hope they can now concentrate on issues which benefit their customers, not themselves.”