The South African Reserve Bank (Central Bank), together with the Financial Sector Conduct Authority, the Payments Association of South Africa and the Banking Association South Africa, last week signed the death warrant for cheques in South Africa. They have said that the issuing and the acceptance or collection of cheques will cease effective New Year’s Eve or December 31. At times like those, a cheque would be enough to calm my creditors and get them to call off their dogs. Once again to anyone reading this to whom I ever gave a rubber cheque, my sincere apologies, it was never intentional. Then there was the time I missed out on buying my dream car because a certain bank would not clear what they termed an “upcountry” cheque for over three weeks.

Source: The Star January 03, 2021 01:52 UTC