Cheques can no longer be cashed

The use of cheques has fallen sharply in recent years. As a result, fewer and fewer customers are cashing them with us. Processing is done manually and takes a relatively long time. Moreover, cheques are susceptible to fraud.

From 1 Januari 2020 it will no longer be possible for you to cash cheques with us. This change has consequences for your incoming foreign payments. Prepare for this together with your debtor by looking for an alternative payment method.

Possible alternatives for receiving cheques are:

• A SEPA Credit Transfer, for receiving payments from the Netherlands and other SEPA countries
• An International Transfer, for receiving payments from outside the SEPA Area
• A SEPA Direct Debit. You can use a SEPA Direct Debit to collect amounts from your customers' payment accounts on either a one-off or a recurrent basis

We would like to help you reduce the number of cheques you receive. It is for this reason we have drafted a letter that you can send to companies from whom you receive a cheque. This letter is in English and is available here . You can use it to explain why you no longer wish to receive cheques.

If you have any further questions, please contact Transaction Banking Services.