According to this report, (http://news.bbc.co.uk/2/hi/8414341.stm), the United Kingdom processed 350 million cheques for a population of 60 million, or an average of 6 cheques per person. The number of cheques used in the UK declined by more than 50% over the past 10 years.
Singapore processes 78 million cheques a year, or an average of 16 cheques per person based on a population of 5 million. The usage of cheques in Singapore is 2 1/2 times of the UK. This shows the level of inefficiency that is found in Singapore.
I do not not if the usage of cheques in Singapore has declined during the past ten years. I suspect thta it has not.
There is a plan in the UK to phase out the use of cheques entirely by 2018, recognising that this form of payment is the most expensive to handle. It is time for Singapore to set a similar goal.