THE FOOL’S ERRAND ON CHEQUES AND THE CASHLESS SOCIETY

The Central Bank has climbed down on its desire to stop people from using cheques.  This is according to a report in the Business  Section of The Tribune which says that he announced public consultations on the issue has been ceased. The Central Bank Governor John Rolle is unrepentant on the subject saying in a subsequent public statement that the decline in the use of cheques by 7 per cent is evidence that the public is becoming less reliant on cheques.  The PLP opposed the abolition of the penny.  It was unnecessary and inflationary.  Then the Bank has failed to stop the inflationary rise in service offered by the clearing house banks including charging people for getting their own money out of the bank and putting money in the bank.  Then the bit about cheques. The fact is right now you can scan a cheque into an ATM machine and it records what is written, puts it on your account.  So why do you need to abolish  it?  What is the mischief you are trying to cure.  It’s a fool’s errand.