Cheques in 2017

  • 405 million cheques were used for payments and to acquire cash across the UK. Of these –
    • 293 million cheques were cleared in Great Britain by the Cheque and Credit Clearing Company.
    • 98 million cheques were processed within the banks themselves in Britain
    • 10 million cheques were cleared in Northern Ireland by the Belfast Bankers’ Clearing Company
    • Over 4 million cheques stayed for processing within the banks themselves in Northern Ireland.
  • On average, 1.2 million cheques were cleared each day by the C&CCC with an average daily total value of around £1.4 billion.
  • The average value of a cheque cleared by the C&CCC in 2017 was £1,217, up 5% from £1,161 in 2016.
  • It is very rare for a cheque to bounce/be returned unpaid. Only around 0.5% of all cheques are returned unpaid each day. 

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

Credit Clearing in 2017

  • Over 90% of the 17 million items going through the credit clearing were for bill payments. 
  • £12 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