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CITY VIEWS: IF BANKS PHASE OUT CHEQUES BY 2018, WILL YOU MISS THEM?

GILES BRAKE | MSI GLOBAL ALLIANCE
“I think cheques are useful for payment with smaller companies and services, but I certainly won’t miss them much once they’re gone. I think everyone can accept that we’re in the digital age now where everything is being done electronically. Cheques simply don’t serve the purpose that they once had.”

EDWARD AMERY | ABERDEEN ASSET MANAGEMENT
“I won’t miss cheques at all because I find that they’re often inconvenient to use. With cheques, even going through the extra trouble of visiting the bank to collect your money makes the alternatives of electronic banking worth it that much more. I’m not sure anyone will really miss dealing with cheques.”

DOMINIK FERRARA | 33SIX CONSULTANCY
“I don’t use cheques at all and I really don’t know anyone who does. It’s obvious that many companies still use cheques but I think over time, even those who continue to cling to the practice of using cheques will see the benefits of adapting to electronic alternatives.”

DAVID GREENBURGH | ACTUATE CORPORATION
“I won’t miss cheques because I personally find them to be a nuisance to carry. Although there are some scenarios where cheques are still the most convenient form of payment, I don’t doubt that alternatives such as online banking can replace cheques altogether.”