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Page last updated at 13:20 GMT, Saturday, 19 December 2009

The death of the cheque

No cheques will be cleared after 31 October 2018.

That's the plan of the Payments Council, the consortium of banks which run the plumbing our money travels through.

The council has wanted to get rid of cheques since it was set up a couple of years ago. And now it has set a date. But if you want to know what the alternative to the cheque might be - the answer is in the post.

But by setting a date it hopes that answers will be found. And if they are not by 2016 then reports of the cheque's demise may have been exaggerated.

Patrick Poncelet of the European Banking Federation told the programme how other countries got rid of the cheque.

This item was first broadcast on Radio 4's Money Box on Saturday, 19 December 2009

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