In 2017, 405 million cheques were used for payments and to acquire cash across the UK. Of these,
- the C&CCC cleared 293 million in Great Britain (an average of 1.2 million a day),
- over 98 million stayed for processing within the banks themselves in Britain,
- 10 million were cleared in Northern Ireland by the BBCCL and
- Over four million stayed for processing within the banks themselves in Northern Ireland.
Serving a range of people, businesses and charities, the Cheque and Credit Clearing Company (C&CCC) and the Belfast Bankers’ Clearing Company (BBCCL) support the UK economy and wider society. The C&CCC alone facilitated the deployment of £356 billion to the national economy through the paper clearing process during 2017.
Cheques continue to play an important and highly-valued role in the payments landscape. For example, cheques are seen as a convenient way to pay tradespeople, manage cash flow, and are a popular way to pay utility bills, clubs and societies. Our research has found that nearly 9 in 10 UK charities and three quarters of UK businesses both received or made payments by cheque over a monthly period.
Bank Giro Credits, found at the back of chequebooks, are used by customers to pay cash or cheques into their bank accounts, and to pay utility, telephone and other regular bills. In 2017, around 17 million credits were cleared worth about £12 billion.