Use of Cheques
- 477 million cheques were used for payments and to acquire cash across the UK
- The value of the cheques written in the UK in 2016 was £551 billion.
- 275 million cheques were written by individuals.
- 202 million cheques were written by businesses.
- The average value of a cheque written by an individual was £306.
- Individuals received 121 million cheques last year (42 million from other people and 79 million from businesses).
In research undertaken in spring 2017:
- 87% of charities said they had either made or received a payment by cheque in the past month
- 53% of charities said they receive donation income by cheque
- 29% of charities said they receive over half their donation income by cheque
- 75% of UK businesses said that they had either made or received a payment by cheque in the past month
- 55% of UK personal account holders said that they had either made or received a payment by cheque in the past year
Cheque Clearing Statistics
- Of the 477 million cheques written in the UK in 2106:
- 345 million cheques were cleared in Great Britain by the Cheque and Credit Clearing Company; these had a total value of £400 billion.
- 117 million cheques were processed within the banks themselves in Britain
- 11 million cheques were cleared in Northern Ireland by the Belfast Bankers’ Clearing Company
- Approx. 5 million cheques stayed for processing within the banks themselves in Northern Ireland.
- The average value of a cheque cleared by the C&CCC in 2016 was £1,161, an increase from £1,125 in 2015.
- On average, 1.36 million cheques were cleared each day by the C&CCC with an average daily total value of around £1.6 billion.
- It is very rare for a cheque to bounce/be returned unpaid. Only around 0.5% of all cheques are returned unpaid each day.
- The peak day for cheques in 2016 was Tuesday 20th December when 2.1 million of them were cleared.
Credit Clearing Statistics
- Over 90% of the 21.8 million items going through the credit clearing were for bill payments.
- £15 billion credit items were cleared, with an average daily value of £687 per item.
*All figures are rounded. For full details, please contact email@example.com