This updated publication looks at the history of the cheque, as well as the evolution of the clearing process for cheques. The advent of cheque imaging in the UK is also covered as is the history of the C&CCC from its creation in 1985.
This is the second edition of this publication; it was first published in 2009 to mark the 350th anniversary of the cheque.
This pamphlet has been developed collaboratively by the UK Interbank Payment System Operators – Bacs Payment Schemes Limited (Bacs), CHAPS, the Cheque and Credit Clearing Company, Faster Payments and LINK.
It is intended for use by Payments Service Providers (PSPs) that are thinking of participating in one or more of the UK’s payment systems or extending their existing payment services. It provides an overview of the steps to follow to help PSPs engage with the Payments System Operators (PSOs) and the common process required to join them.
This information pack is a guide for authorised payment and e-money institution payment service providers (“non-bank PSPs”) which would like to access the UK’s interbank payment schemes directly. It outlines changes announced by the Bank of England (the Bank) which mean that non-bank PSPs can now apply to open a settlement account at the Bank.
This guide provides an overview of the UK’s payment schemes, what each one offers, and how they can be accessed. It has been developed collaboratively by the UK’s interbank Payments System Operators – Bacs Payment Schemes Limited (Bacs), CHAPS, Cheque and Credit Clearing Company, Faster Payments and LINK. It is intended for use by payments service providers (PSPs) that are considering joining, or thinking of extending more payments services to their customers.