The British government is considering allowing bank customers to take pictures of checks with their smartphone and cash them in y sending them to their bank instead of going there in person. Banks are claiming that this new method of cashing checks would not only be much faster and more convenient, but more secure as well.
Plans have been announced to allow bank customers to pay cheques into their account by taking photos on their smartphones. Rather than go to the bank in person, customers will be able to photograph the cheque, and send it electronically. The government is to launch a consultation on the idea, with a view to making the necessary legal changes. The technology will also allow cheques to be cleared in two days, rather than the six it takes at the moment. Banks say the new transfer method will be more convenient, and more secure.
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