Written evidence submitted by Mrs Sue
We are a small family business in property letting.
The abolition of cheques will lead to fraud and make it very difficult
to run our business.
With cheques the tenant cannot cancel the payment
without penalty. With other means of payment there will be no
penalty if the tenants stops paying the rent and disappears thus
defrauding the business. Also the fact that they have a bank account
and can issue cheques means that they are not bankrupt and to
a certain extent vouches for their reliability. Also the bank
can be asked for a reference.
I would be very grateful if you take the above
into consideration and assist small businesses and elderly people
rather the convenience of the banks.