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Cheque Photo Plan Gets The Go-Ahead

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http://www.bbc.co.uk/news/business-28020733

A system that will allow people to pay in a cheque by taking a photo on their smartphone has moved a step closer.

Rather than go to the bank in person, customers will be able to photograph the cheque, and send it electronically.

The government says the idea has been broadly welcomed during consultation and will now be included in planned new legislation.

Barclays, which has run a pilot of the system, claims up to £300m of cheques in the UK are never paid in each year.

Details of when the new cheque imaging option will be available are still being finalised.

Customers will still have the option of paying in paper cheques at bank branches, cash machines, post offices and by post.

I'm sure this won't get abused, how long before someone finds a way to pass off fake cheques?

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Who uses cheques?

I believe this system exists in the USA already but it's a method of adding a technological workaround to their antiquated banking practices.

In the uk we could/should skip this .

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I thought cheques were to be phased out within a few years, if not already?

Why? They won't ever be phased out. I use them the entire time - loads of them.

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Who uses cheques?

I believe this system exists in the USA already but it's a method of adding a technological workaround to their antiquated banking practices.

I use them all the time..

Although on a slight tangent I was shocked at the totally backward banking and payment methods in the US when I was their recently.

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I thought cheques were to be phased out within a few years, if not already?

The 2018 phase out was cancelled when it turned out none of the banks have could come up with a credible alternative for the many people who still rely on them.

http://www.paymentscouncil.org.uk/media_centre/press_releases/-/page/1575/

I think their current plan is to wait until all these people (mostly small businesses) have died out. It may be a long wait.

Also as the 'photo of a cheque' thing shows there is life in them yet, may even be more secure than a credit card which is just relying on a couple of easy to copy numbers.

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I used to know a CID inspector. He told me that the crime solution rate was close to 100% for cheque fraud, as the criminals were always stupid enough to leave their prints on the cheque.

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Barclays, which has run a pilot of the system

Surprised they find the time what with all the frauds and scams they're running.

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Cheques less than £5k are never checked for signature matching by banks.

I've signed close to 60,000 cheques over the last 10 years, during which my signature has changed significantly. I've even tested the system by just scribbling in the signatory box and the cheques have still been cleared.

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I use them all the time..

Although on a slight tangent I was shocked at the totally backward banking and payment methods in the US when I was their recently.

I like cheques! I know what I have paid, and have a stub I can compare with my bank stement!

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