Payment dates through the ages:

1659: Date of the earliest known surviving English cheque

1717: Bank of England introduced printed cheques

1770: Daily cheque clearings formalised

1811: First known personalised printed cheques produced

1821: Committee of bankers formed to regulate clearings in London

1833: First clearing house built in Lombard Street, London

1939: Clearing transferred from London to Stoke-on-Trent due to World War II

1946: Clearing transferred back to Lombard Street, London

1965: First cheque card issued allowing sterling cheques to be guaranteed up to the value of £30

1966: First credit card, Barclaycard, introduced in the UK

1969: UK Domestic Cheque Guarantee Card Scheme introduced

1985: Cheque and Credit Clearing Company established

1987: First debit card, Connect, introduced in the UK by Barclays

1989: First telephone-only bank, First Direct, introduced

1990: Peak year for cheque volumes

1996: Scottish cheque clearing with Scottish Exchange came under the responsibility of the Cheque & Credit Clearing Company

1997: First internet banking service introduced by Nationwide

2005: Shell stopped accepting cheques

2005: London Exchange moved to Milton Keynes and renamed the English Exchange

2007: Cheque volumes declined by fastest rate ever

2007: 2-4-6 changes to the cheque clearing process introduced giving customers certainty on cheque funds for the very first time

2008: Most other major retailers stopped accepting cheques

2008: Faster Payments Service introduced for online, phone and standing order payments

2008: Payments Council published National Payments Plan suggesting active management of the decline of the cheque is required, with a possible closure of the cheque clearing in 2018