In contrast, the fingerprint-recognition system being used in some American shops, called Pay By Touch, appears to be more convenient but less secure, since shoppers are no longer required to present a bank card or cheque to buy things.

ECONOMIST: Security

As now, anyone paid by cheque will deposit it in their bank, to be sent on to various clearing houses, which route the cheque back to the issuer's bank for payment approval and the transfer of funds.

ECONOMIST: America's new law on cheques

However, the new system will allow the bank that first receives the cheque to create an electronic image for transmission through the system.

ECONOMIST: America's new law on cheques

The cheque guarantee, denoted by a Shakespeare hologram on a card, meant a cheque was honoured by a bank, even if sufficient funds were not in an account.

BBC: Cheque delays must be reduced, say MPs

This image can be reconstituted into a paper cheque by the drawer's bank.

ECONOMIST: America's new law on cheques

Mr Saib then paid the cheque into his own account at National Westminster Bank's Cromwell Road branch.

ECONOMIST: Lord Archer

In most wealthy countries, even cash-obsessed Germany, such transactions are done by bank-to-bank transfer, direct debit or, at a minimum, by cheque.

ECONOMIST: Direct debit

"If you become a victim of this type of crime, you should contact your bank in the first instance, " said Det Ch Insp Paul Barnard, of the Dedicated Cheque and Plastic Crime Unit.

BBC: Man on telephone