09/12/2010 07:51
The use of cheques in Cyprus is quite popular at the same time that many European countries automated fully their systems of payment and have abandoned cheque payments. The House talks on the payment of the extrajudicial fines lately brought up the issue and paved the way for more modern ways of payment.
According to European Central Bank data, Cyprus has the second highest use of cheques after France. The number of cheques per capita stands at 33 per annum.
Cyprus also ranks second in the value of cheques per capita, which amounts to €50.519.
According to the figures, almost half of the EU member states have abolished cheques as means of payment, mostly in Eastern Europe, the Baltic countries and Scandinavia.
The effort to reduce the use of cheques seems to be in progress in Cyprus too.
In his statements to StockWatch, General Manager of Association of Commercial Banks, Michalis Kammas said that he is in contact with the Central Bank for the issue.
“There is an effort on behalf of the European Commission and the European Central Bank to abolish the cheques as means of payment with the use of electronic means, which are safer”, he said.
“Cheques have many disadvantages; they can be stolen and copied easily etc”, he said.
In France, which ranks first, the number of cheques per capita stands at 57. The problem focuses on the fact that their use is exceptionally popular in the non urban areas.
The authorities and especially the Bank of France have taken measures to minimize the use of cheques in the past few years. The value per capita amounts to €34.203.
France and Cyprus are followed by Malta (32), Ireland (29) and the United Kingdom.
Ireland seems to have the biggest problem, since the value of cheques per person is exceptionally high (€213,408).
The government has already taken measures to minimize their use by the end of 2016.
In Britain, the Council of Payments has already decided to abolish the cheques in late 2018.
In Greece, the value of cheques is high (€41,852) but their number is too low (3).
This is attributable to the fact that cheque books are mostly held by the businesses, which issue cheques of high value for the purchase of commodities, rather than the natural persons.
According to European Central Bank data, Cyprus has the second highest use of cheques after France. The number of cheques per capita stands at 33 per annum.
Cyprus also ranks second in the value of cheques per capita, which amounts to €50.519.
According to the figures, almost half of the EU member states have abolished cheques as means of payment, mostly in Eastern Europe, the Baltic countries and Scandinavia.
The effort to reduce the use of cheques seems to be in progress in Cyprus too.
In his statements to StockWatch, General Manager of Association of Commercial Banks, Michalis Kammas said that he is in contact with the Central Bank for the issue.
“There is an effort on behalf of the European Commission and the European Central Bank to abolish the cheques as means of payment with the use of electronic means, which are safer”, he said.
“Cheques have many disadvantages; they can be stolen and copied easily etc”, he said.
In France, which ranks first, the number of cheques per capita stands at 57. The problem focuses on the fact that their use is exceptionally popular in the non urban areas.
The authorities and especially the Bank of France have taken measures to minimize the use of cheques in the past few years. The value per capita amounts to €34.203.
France and Cyprus are followed by Malta (32), Ireland (29) and the United Kingdom.
Ireland seems to have the biggest problem, since the value of cheques per person is exceptionally high (€213,408).
The government has already taken measures to minimize their use by the end of 2016.
In Britain, the Council of Payments has already decided to abolish the cheques in late 2018.
In Greece, the value of cheques is high (€41,852) but their number is too low (3).
This is attributable to the fact that cheque books are mostly held by the businesses, which issue cheques of high value for the purchase of commodities, rather than the natural persons.
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