Closure of the Cheque Guarantee Card Scheme

    The Payments Council closed the scheme on 30 June 2011. Ensure you have alternative arrangements in place if you receive or make payments.

    If you currently rely on the scheme either for accepting payments from customers or making payments, you will need to ensure you have alternative arrangements in place.

    Receiving Payments

    Rather than continuing to accept cheques that are no longer guaranteed, you can ask your customers to make payments by debit or credit card. Alternatively, you can ask to be paid electronically, receiving payments directly into your account.

    Please remember, if you do not wish to accept cheques without a guarantee, you should inform your customers in advance and agree on alternative payment arrangements.

    If you do still plan to accept cheques without a guarantee, please note that there is a risk of such cheques being returned unpaid. Normally a cheque cannot be returned unpaid by someone any later than 6 working days after the day it was paid in.

    Making Payments

    If you make payments face to face using a guaranteed cheque, the most appropriate alternative is to use a debit or credit card.

    However, you will need to check that the recipient can accept card payments.

    Next Steps

    If you require further information and advice on choosing the most appropriate alternative payment methods, please contact your Relationship Manager.

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Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Telephone: 0207 626 1500.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 119278.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.