To make life easier for banking cheques, the Government has agreed that Cheque Imaging can be examined and implemented in the very near future.
What's that you may ask?
Cheque Imaging will allow customers of banks the opportunity to deposit cheques in their account using just a picture of them taken on a smartphone or tablet computer.
By using this system of the future it will cut down clearing time from probably six to two days and minimise the loss of cheques.
This will be revolutionary for those who live a fair way from their local bank and cut considerably the risk of losing cheques.
One of the big points to view this favourably is the reduction of time waiting to clear cheques.
19th October 2010
Accountant at Brian Foster & Co.
Tel no: 01922 457 201