⏰ Cheque imaging

(Robert Vernon) #1

Overseas banks have the ability that you take a photograph of the check or any payment you received and that is credited into your account . Will Mondo have that feature?

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Pay in cheque via mobile
Making Monzo: Cheque Imaging
Making Monzo: Cheque Imaging
Making Monzo: Cheque Imaging
Making Monzo: Cheque Imaging
New way to use cheques
((☞゚ヮ゚)☞ ☜(゚ヮ゚☜)) #3

That sounds like a fraud prevention nightmare! Can you name any banks in particular that offer this service? I assume you still send the cheque in afterwards but this is just to speed up the process.

(James Billingham) #4

Almost all banks in the US offer this, and nope you don’t need to provide the actual cheque either. I’d imagine that there are systems in place to prevent double-depositing them also.

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(Rob) #5

I seem to recall Barclays here in the UK offer that facility via their mobile banking app. I don’t bank with Barclays myself so maybe somebody else can confirm that…?

(Colin Robinson) #6

http://www.bbc.co.uk/news/business-30343678

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Paying cash into the account
(Starling Guru) #7

My bank in Dubai allows me to deposit cheques via picture

Emirates NBD

Take pic and it’s done, no need to enter branch.

I don’t accept them though so I have never used it

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#8

Can’t see this being a huge problem. Each cheque has a cheque number so it would flag up if it was put through the system twice. I do remember when it was reported by BBC News that it was coming, but as far as I’m aware it never materialised.

(Damien Everett) #9

It’s on it’s way in the next year.

http://www.chequeandcredit.co.uk/cheque-users/businesses/cheque-imaging/about-cheque-imaging

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(James Billingham) #10

That is actually weirdly exciting…

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(Starling Guru) #11

Apart from business cheques who actually uses them though?

Lat time I had a cheque book was 15 odd years ago and the last time I needed a cheque was for DVLA and MetroBank printed me off 4 there and then.

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(James Billingham) #12

Birthday money :laughing:

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(lee) #13

@Danny printing a few could be an idea maybe for places - usually always government or outdated places that require cheques.

Taking a picture to pay in would be great for places which still insist on paying out in cheques.

(paul) #14

Ah, cheque clearing - underpinned by legislation nearly as old as some of the legacy banks themselves :wink:
1882 Billis of Exchange Act
1957 Cheques Act
1992 Cheques Act
2015 Small Business, Enterprise and Employment Act

Did you know that the law doesn’t prescribed the form of a cheque, custom and practice have led to the cheques we all love/hat - by law you can write your cheque on the side of a :bus: and pay it in. I’d love to see the face on the teller :open_mouth: when you pulled that out your bag!

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#15

a cheque has been written on the side of a cow before!

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(paul) #16

A :cow: or a :bus: - they all count in law!

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(Stuart Cameron) #17

I’ve seen the photographing a cheque thing before but I never realised you don’t actually need to deposit the cheque.

That’s clever!

(Adam) #18

just came across this from 2013…

https://www.gov.uk/government/news/new-proposals-to-make-cheque-depositing-easier-and-quicker-to-be-unveiled

(Si) #19

In the USA it’s a Federal crime to bounce a cheque. So this is probably why it’s available. It’s also a Federal Crime to "write a cheque without the funds to honour it. A cheque in the US is as good a cash normally. No Guarantee card needed. …

#20

Yep Barclays was trialling this via it’s mobile app. But it had to be a Barclays cheque.

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(Oliver Ford) #21

What, one of those new fivers?

:laughing:

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