NFU launches online banking survey

In light of the continuing public concern about moves to phase out the method of cheque payment by 2018, NFU Cymru is urging its members to fill in its online banking inquiry survey.

The survey has been compiled following the announcement that the Treasury Select Committee is to re-open its inquiry on the future of cheques.

The news comes at a critical time, as the removal of the guarantee element of the cheque is due in two months’ time. NFU Cymru President, Ed Bailey said, ’A significant proportion of our members are concerned about the withdrawal of the cheque and alternatives have not yet become part of many farm businesses.

’The setup and transaction costs for small businesses to implement ’chip and pin’ often make it a very expensive option. Furthermore, several brands rely on internet connectivity which is still an issue in many rural areas of Wales.

’In order to provide the committee with suitable evidence, we are urging members to complete this year’s banking survey which has been specifically designed to include a payment method section.’