22 January 2021: As the saying goes ‘a picture is worth a thousand words’ today marks a historic moment for the country, as FNB processes the last batch of its Cheques, to end an era of one of the oldest and most treasured payment methods used by South African banks and financial services institutions globally.
“As we celebrate an end of an iconic chapter, we pave way for a new era of digital payments innovation. Cheques have played an important role in the history and development of the formal payments system in our country. Ironically, even some millennials who have never held a cheque book still refer to their salary or wages as a ‘pay cheque’.
As a result, the necessary discontinuation of this symbolic payment instrument is a nostalgic moment for us and our customers, however, we believe the future of payments is even more exciting for all of us. Particularly FNB as we journey towards a new era of platform banking,” says FNB CEO Jacques Celliers.