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Spain's banks have a huge advantage in not having to process cheques or handle transactions in their branches.
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Intelligent Processing Solutions Ltd iPSLL), which processes 5m cheques a day, said it plans to slash its operations to two sites in Northampton and Milton Keynes.
Unions and consumer groups united to condemn the decision to remove the contract to process the benefit cheques from the Post Office and give it to private sector company PayPoint.
America's Federal Reserve, which handles a large portion of inter-bank cheque clearing, has seen a drop from 18 billion cheques processed in 1989 to 17 billion a decade later and 8.6 billion last year.
It's labour-intensive but is done this way because the law doesn't allow any other process, says the Cheque and Credit Clearing Company (C&CCC), the organisation that looks after the clearing system.
Royal, Bank of Montreal and Toronto-Dominion are in the process of combining their cheque and document-processing services.
HSBC's Japanese subsidiary unquestioningly processed $290m in travellers' cheques for visiting Russians who said they were in the used-car business.
The company blamed the introduction of the image clearing system, planned for October 2017, for the planned cuts, saying would have a "huge impact" on the cheque clearing process.
That is why we're creating a new payments regulator and why we are going to consult on speeding up the cheque clearing process".
PayPal does say they're working to restore the service, and has set up a special website where its users can keep track of further changes, and also find instructions for the cheque withdrawal process.
Many bank processes (such as cheque clearing, which can take as little as three days or as long as three weeks) are still done by hand.
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CEO of Professional Science Editing for Scientists @ prosciediting.com