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 info@chequeandcredit.co.uk