These questions might also lead to a focus on the constraints that the major banks’ own internal systems place on their capacity to provide faster payments. The decline of cheques The number of cheques written in Australia has been declining by an average of 9 per cent per year over the past decade. Over time, this is adding to unit costs.
The result is that cheques, which were already an expensive form of payment, are becoming increasingly so. Nonetheless, our consultations have reinforced the fact that cheque use remains entrenched in certain areas because it meets a number of specific needs.