Cheques: Banco Sabadell, Cheque Deposit via Mobile Phone
- The Spanish banking institution Banco Sabadell is launching its new iPhone and Android applications to allow customers to access their account as well as various other services directly (account management, geolocation, etc.).
- "Instant Check" is one of the new features. This tool will enable the user to deposit a cheque to his bank account by sending its picture to his bank from his mobile phone. The customer would no longer have to go to his bank to deposit his cheque.
- In the United States, this technology is already used. Chase, for instance, has proposed this functionality since July 2010. In October, PayPal proposed to its American users to pay by cheque through the iPhone application "Mobile Check Capture".
- In Europe, this solution was initiated in Denmark by Danske Bank.
- All around the world, players are trying to find a solution to dematerialise cheques, which remain very expensive to manage.
- In France, unlike in other European countries, cheques remain very popular. According to the European Central Bank, 61% of the cheques processed in Europe are written in France where one transaction out of five is still paid by cheque.