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Cheques are an important tool for farmers and people living in rural areas. This is the basis of the Victorian Farmers Federation’s (VFF) submission to the Australian Payment Clearing Association (APCA) who are engaging in a public consultation on the issue.VFF President Andrew Broad said cheques continued to play an important role in Victoria’s rural economy.
"In response to the APCA’s call for submissions on the ongoing use of cheques the VFF consulted our members. The overwhelming feedback we received is that cheques remain a very important part of doing business in rural areas," Mr Broad said.
"Although there has been an increase in the use of phone and internet banking, there are still many cases where cheques are the best, or sometimes the only option, for payment. For example, cheques are still the best way to pay casual staff and shearers."
"Our regional economy is different from the economies of major cities across a range of areas. Where people are starting to use ‘paypass’ or ‘paywave’ swipe card technology in Melbourne, there are still many rural areas where this is impractical."
"The VFF’s submission also pointed out the importance of cheques for meeting governance requirements in community organisations such as the VFF or Country Womens’ Association. When two signatures are required it is easier to have a physical cheque, rather than trying to coordinate alternative payment methods."
"The APCA has made it clear that they are not looking to remove cheques, but are investigating a future transition to other forms of payment," Mr Broad concluded.
The VFF’s submission to the APCA can be downloaded from the Federation’s website www.vff.org.au