Cheque Guarantee Scheme
Due to the decline in the number of cheques being used over the past 5 years, the UK Payments Council has taken the decision to close the UK Cheque Guarantee Scheme. The closure of the scheme will become effective on 30th June 2011 and will impact all UK banks.
What this means for you
From 30th June 2011, any cheque payable from your Intelligent Finance current account will not be guaranteed, even if your debit card has the Cheque Guarantee symbol.
You can still use cheques as a payment method. The removal of the functionality simply means that the payment of cheques can no longer be guaranteed. However, as a result of the scheme closing, you may find that some retailers/businesses no longer accept cheques.
We intend to replace your card at its next natural reissue – for example, when your card expires or if you report it lost or stolen. This means that some customers may be issued with a debit card which is not a cheque guarantee card before June 2011.
Further information about the closure of the scheme can be found at -
Cheque Guarantee fact sheet