Banks call for end to cheque culture

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 Irish Payments Services Organisation (IPSO) wants to see greater usage of electronic forms of payment like the Laser and Visa debit card instead.

At the last Budget, Finance Minister Brian Cowen halved the annual stamp duty on debit cards and doubled the levy on cheques to encourage people to use their plastic.