The treasurer, Jim Chalmers, has signed the cheque’s death warrant to end its use in Australia by 2030, as part of a range of payment reforms for the digital era.
In a speech to be delivered to the Australian Banking Association in Sydney on Wednesday, Chalmers will say there has been a 90% decline in the use of cheques over the past 10 years alone but it remains a legacy payment method, while other economies have transitioned to digital payments.
