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In a European first, Spain's Banco Sabadell has added remote deposit cheque capture functionality to its mobile platforms.
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It's may be not the first one in Europe. In Denmark, Danske Bank recently launched a similar app for giro (postal cheque) scanning via mobile phone.
I wonder will this lead to the strange anomily that exists for some US bank customers when such applications can mean that getting paid by cheque means getting faster value than being paid by electroninc credit transfer?
@Russell Burke: You've brought up a very interesting - and potentially sensitive - anamoly. The difference between technical capability and business model is already exposing such anamolies in the two e-payments schemes in India. RTGS for corporate payments
works in realtime and NEFT for retail payments is specified to work as a T+2 scheme. However, lacking a separate technology backbone, NEFT transactions are processed over the RTGS platform. As a result, some banks give NEFT credits virtually in realtime, whereas
others do so only after 2 days!
It beats me why a bank would want to perpetuate an archaic payment system. Isn't it is about time that the cheque is finally put out of its misery?
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