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Leading the pack in the desertion of the good old cheque, Sainsbury's this week announced that cheques would no longer be accepted in any of it's stores from 1st August. The supermarket claims that cheques are time consuming to deal with and very few people use them now anyway.
Supermarkets far prefer to deal with money electronically, rather than handling cash or cheques, hence their persistence in offering cashback whenever a customer pays by debit card - if they can offload their cash to the customers, then there is less to handle themselves.
Sainsbury's say the reason for this move is the level of cheque fraud, but along with other retailers about to follow suit, like Boots, WH Smith, ASDA and Morrisons, the main driver is sure to be an easier life for the retailer. Customers now have the option of paying by cash, debit card or credit card. Other organisations to penalise cheque users in the past were BT and Virgin Media who both charge customers an extra fee (£4.50 quarterly and £5.00 monthly respectively) for paying by cheque.
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