Monday, 13 August 2012

Cheque usage is plummeting - what is the alternative?

Cheque Replacement

"If you’re a business that still uses cheques extensively, it's time to start thinking about an alternative."

The cheque guarantee card, first introdcuced in 1965, was officially 'checked out' on 30th June 2011 and whilst The Payments Council recently decided that cheques will be "kept for as long as customers need them", their popularity as a preferred payment method has diminished dramatically.
Last year 1.1bn cheques were used but this represented a 40% decline over the past five years and a 70% fall over the past 20 years. A further 40% fall is expected in the next five years so it really is time to start thinking about an alternative.
If your clients and customers pay you at least once a year, then Direct Debit is the perfect solution.
Direct Debit can help to:
  • Cut down on administration - e.g. sending out invoices, chasing outstanding cheques and managing unpaid cheques
  • Improve cash flow
  • Cut down on late payments
  • Provide a more professional service to your clients
If you would like to see how Direct Debit could help your business now - and well into the future - please contact us for a FREE consultation or download our FREE Direct Debit brochure.

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