Paper checks, or Cheques (as they spell it) are scheduled to be phased out by October 2018, according to the BBC. The board of the UK Payments Council has set the date in a bid to encourage the advance of other forms of payment.
The first cheque was written 350 years ago and the decision will be greeted with disappointment by some small businesses and consumers.
The target date for the closure of the system that processes cheques has been set for 31 October 2018, after the board described the payment method as in "terminal decline".
However, there will be annual checks on the progress of other payments systems and a final review of the decision will be held in 2016. "The goal is to ensure that by 2018 there is no scenario where customers, individuals or businesses, still need to use a cheque," the Payments Council said in a statement.
Personal cheque payment volumes reached a peak of 2.4 billion in 1990, and have since fallen steadily to 663 million in 2008.