On Wednesday 12th July, we held a webinar discussing the findings of a new report published by Toynbee Hall and Financial Health exchange looking at customers of the third party cheque cashing industry.
The report found that 60 per cent of cheque users who currently use the services of cheque cashers are prepared to continue to pay to cash their cheques, even if the price they have to pay increases in the future.
The study, which includes a national survey of customers of cheque cashing services, also shows that a combination of perceived financial exclusion, coupled with convenience, means that some people would be happy to continue paying a premium for instant access to the value of a cheque. It also shows that there remain a number of people who cannot, or do not want to, use mainstream financial services providers.
Watch the full webinar :