Making Monzo: Cheque Imaging

Will Monzo accept taking a picture of a cheque that has “Mr Him His_Name and Mrs Her His_Name” when our joint account is in “Him His_Name and Her Her_Name”?
Her grand-mother is old-fashioned and always adds her married name although she prefers keeping her maiden name…

1 Like

I think as with all cheques, they need to be in the name of the account holder. If the cheque is not in the account holders name, then proof would be needed to link the name (such as a marriage certificate). Usually it happens the other way around receiving a cheque in a maiden name and the account is in the married name, but would suggest the same logic applies. I’m not sure this would work with the cheque imaging though - with other banks using this tech, the cheque team can reject it and request that the original is supplied in branch, so it might be they can only be processed by exception by sending them into Monzo.

But I don’t know for sure, I’m just guessing based on how this works elsewhere and the rules that banks have for accepting cheques currently.

In which case, it would be great if Monzo could support the ability to supply a marriage certificate (or equivalent) to put on file with a joint account. Maybe I should add this to the Features board

7 Likes

Thats a lovely idea, similar to scanned receipt.

Real differentiator to other joint accounts of other banks too id say?

Is there a good video or article on how cheque imaging actually works? Is a real life human being involved in approving them?

Is the signature actually compared to an existing one on file? They seem very inefficient as paper or an image.

2 Likes

Let’s not complicate things here. Would you do the same with a legacy bank account? I don’t think they allow 2 names on a personal account. There’s a difference between legal name and common name, if a person officially change their name due to marriage then her/his birth name becomes common name. If that grandma keeps sending cheques in her assumed married name she needs to remind her grandma not everyone changes their name after marriage.

I received cheque in my name only and deposit it into a joint account no problem, haven’t seen any cheque for 2 recipients.

1 Like

I had two names on my TSB current account in 1997 (pre–Lloyds takeover). Jamie A*, my birth name, which was the name on the account, and Jamie B*, my stage name after I graduated from drama college.

I successfully paid in cheques made out to my stage name issued in error by a production company that only checked a theatre programme for my name.

In the end I changed my name so that my stage name became my legal identity, but the bank continued to accept cheques in my former name from a grandparent who refused to use my new name.

A quick google reveals NatWest accept cheques in a former name with supporting documentation.

2 Likes

Id be interested to know if this will be a free service of have a cost passed on to the customer? e.g. will it be similar to paying in cash?

It’s free now to pay a cheque in, and this saves paying for the freepost service, so I’d hope it stays free! It’s less work for everyone involved.

I would imagine they will remove the freepost cheque option once this is enabled.

Well it will still be needed for cheques above a certain limit, or non standard ones or ones where people can’t work out how to take a cheque pic.

1 Like

Have they said this? There’s a limit on how much cash you can put in, why wouldn’t there be for cheques its the same service just a cheque instead of cash.

Cheques aren’t the same as cash. You don’t have the the same risks and you don’t have the same storage requirements. It doesn’t cost the same to process a cheque.

4 Likes

The current industry limit for cheque imaging is £500.

1 Like

Possibly - however at least initially I think both methods would be retained. A £500 limit tends to apply per industry standards, any cheques above this would need to be sent in. Some people may have problems taking pictures, eg a broken/dodgy phone camera. Some cheques might be illegible by imaging, eg if someone has poor handwriting or for whatever reason cannot be read. The bank might want to see the physical cheque where fraud has been suspected, a mistake has been made by the issuer, or the cheque has been damaged.

Then you have the issue of uncommon forms of cheque like a postal order, bankers’ draft or foreign cheque - which I’m not sure the imaging service supports.

1 Like

I actually have a cheque arriving fairly soon, if Monzo is looking for a beta tester I’m happy to give it a shot!

3 Likes

Any timetable yet?

LLyods do it and I know it is free with them but then again so is paying in cash

Not quite the same, Monzo have to use a third party for cash who will be charging for their services.

LLyods also offer deposits at the post office for free

I last paid a cheque in last week, written by a relative who can never get my full surname correct. I use the counter at my local branch where I am known so the cheque is accepted. They always ask if they can help show me how to pay in using the machine. I say " No thanks you can do it faster & I don’t have to get my glasses out to read the instructions."

1 Like