Lead Forensics

The Good Old Dependable, Innovative Cheque Infographic

The Good Old Dependable, Innovative Cheque Infographic

New information in our first of a series of infographics from The TALL Group of Companies analyses cheques in the UK in recent years. This cheque infographic highlights some of the facts and figures surrounding the humble cheque which, despite a reduction in overall use, still plays a major part in the payment landscape here in the UK.

Cheques in 2018 (Facts & Figures: Cheque & Credit Clearing Company Research)

  • 346 million cheques were used for payments and to acquire cash across the UK, totaling a value of £442 billion.  Of these –
    • 235 million cheques were cleared in Great Britain through the paper clearing system and 19 million cheques were cleared through the UK-wide ICS; both these systems being managed by the Cheque and Credit Clearing Company.
    • 81 million cheques were processed within the banks themselves in Britain.
    • 11 million cheques were cleared in Northern Ireland either by the Belfast Bankers’ Clearing Company or within the banks themselves.
  • On average, 1.4 million cheques were processed each day across the UK.
  • It is very rare for a cheque to bounce/be returned unpaid. Only around 0.5% of all cheques are returned unpaid each day.

In research undertaken in spring 2018:

  • 87% of charities said they had either made or received a payment by cheque in the past month.
  • 53% of charities said they receive donation income by cheque.
  • 29% of charities said they receive over half their donation income by cheque.
  • 75% of UK businesses said that they had either made or received a payment by cheque in the past month.
  • 55% of UK personal account holders said that they had either made or received a payment by cheque in the past year.

Secure cheque printing

For more details about Secure Cheque Printing go to: TALL Group Secure Cheque Printing

Cheque scanning

Providing a new lease of life for the cheque, the opportunities offered by the ability to scan a cheque and enter its image into the cheque clearing system are being developed here in the UK. However this facility has been in use in large parts of the world for some time. Visit our joint website, with our partner Digital Check, for more information on remote deposit capture. Go to: Remote Deposit Capture website

Cheque Infographic

TALL accreditations