Cheques should be no longer usable by 2016, according to Pat McLoughlin, chief executive of the Irish Payments Services Organisation.

BANKS yesterday urged consumers and business to ditch cash and cheques, saying the cost of processing the transactions was €1.4 billion a year.

The body that represents the electronic payments industry in Ireland is calling for cheques to be phased out over the coming years.

BANKS are to pay 90% of the total cost of garda cash escorts under a new agreement to be signed in the coming weeks.

ALMOST €15 million is expected to be stolen in credit and ATM card fraud this year, according to new figures.

BANK OF SCOTLAND is to join the Irish interbank clearing system next week.

Ed Carty

BANKCARD holders need to be more vigilant around ATM machines due to the growing use of sophisticated electronic equipment to commit fraud.

A TD whose credit card was copied to defraud him of almost 2,000 wants banks to introduce security systems to make it harder for criminals to defraud credit card holders.