11 Apr 2021
April 2, 2011 - Filed under: Antiques News — David

When purchasing an antique dining table or antique desk in Lancashire , customers often pay by cheque, covered by a bank guarantee card. However this system is being phased out, causing great concern in the antiques trade.

Cheques will continue to be a legitimate payment option until 2018. However, cheque guarantee cards are being scrapped on June 30th. Banks are currently contacting businesses to advise them of alternative options. However, many small traders believe this is a cynical ploy to make them install card processing facilities, the cost of which will affect profits made on furniture such as Victorian dining chairs .

In Preston and other large towns, the use of the cheque guarantee system has fallen dramatically in recent years. However, for both customers and smaller vendors – which includes shops, schools and private sellers – a guaranteed cheque is still the only viable method of payment. Many antique chests and Victorian dining chairs sold in Cumbria and Lancashire fall below the maximum of £250 allowable with a bank guarantee card, and a cheque is a far safer method of payment than cash. Vendors say this is yet more proof that banks are only interested in their own profits, treating their customers with contempt. While a cheque can still be covered in other ways, it signifies the determination to phase out cheques altogether – something which has incensed both traders and customers.

Antique dealers in Lancashire and Cumbria are being polled by LAPADA over the proposed changes, which are being covered in a forthcoming newsletter. When purchasing antique dining tables , antique chests and Victorian dining chairs in Preston, larger dealers will happily accept payment by cheque, cash or card.

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