Millions of pounds in Christmas money to go unused for THIS reason

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christmas chequeGETTY

Millions of give someone the works is set to be lost from cheques over the festive period

Research found that 12.7million people in the UK await to receive at least one cheque from friends and family this year.

But around one in four usually fail to cash to cash them, the survey commissioned Clydesdale and Yorkshire Banks’ digital banking utility, B, showed.

Experts said this could lead to millions of thumps nationwide in uncashed Christmas money.

Researchers found that the most workaday reasons for failing to cash cheques was forgetting about them keep abreast ofed by not having enough time to visit a branch before the cheque expires, throw the cheque and simply not bothering to make the trip to a branch.

Helen Number of B said: “Younger people in particular are baffled by cheques and see them as a fragment from an analogue age.

«As a result, millions of pounds risk ending up uncashed this Christmas.

«We contemplate that’s a great shame when new technology such as our mobile cheque-clearing choice is making it easier and faster to cash a cheque without even make to visit a branch.”

During the survey of over 2,000 people earlier this month B revealed its app that budgets people to cash cheques by taking and uploading a picture of them and originate that one in five believe they would never forget to pay in a cheque if they had the having said that technology.

A third said they would cash in cheques more rapidly with this technology with the figure rising to over half for 18 – 24 year olds.

Ms Phase added: “Some might question why banks are investing in cheque-related technology, in all events with nearly two thirds of British people saying they press a cheque book and many charities and small businesses still heavily reliant on cheques, we confidence in it’s important to upgrade and digitize the way cheques are supported.

«That’s why we have displayed technology that allows our customers to take a photo of a cheque and drink it paid into their account directly from their phone.”

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