Charities worried about banks use of cheques in future
Charities could be left millions-of-dollars out of pocket if more banks decide to phase out cheques. Kiwibank stopped letting its customers either issue or receive cheques last week, having signalled the move a year ago. New Zealand has more than 27-thousand charities, which collectively receive about 28-point-5 billion dollars a year. Up to 80-million of that is by cheque. The Fundraising Institute, which represents many charities, says some could be doomed if other major banks scrap cheques. Its executive director, Michelle Berriman tells reporter Eva Corlett how the community could be affected.