Australian bank and financial-services provider Westpac has introduced new smarter cheque solution, as part of its digital strategy.
Image: Westpac Sydney headquarters. Photo: courtesy of Merbabu.
Westpac has introduced the new feature, which will allow eligible customers to scan and deposit cheques from their smartphone by using the bank’s mobile cheque deposit.
The new feature allows customers to upload a picture of the front and back of their cheque to the Westpac app.
The cheque will be usually cleared and placed in the selected transaction account within three business days.
The company noted its research demonstrated that almost half of Australians still use cheques to make or receive payments.
More than 1.65 million bank customers are expected to access the new mobile cheque deposit feature.
Eligible customers are provided with an option to deposit up to $1,000 within a seven day timeframe using mobile cheque deposit.
The mobile cheque deposit feature is also available on the Westpac Live secure online banking platform.
Both iPhone and Android users can access the mobile cheque deposit feature with the latest version of the Westpac mobile banking app.
Westpac is also the first Australian bank, which is allowing consumer payments by using Siri voice control.
Westpac Consumer Bank chief executive George Frazis said: “While cheques have a reputation for being old-fashioned, we still receive more than 30,000 cheques from customers every day.
“We’ve introduced our Mobile Cheque Deposit feature to offer customers even more choice and convenience in how they do their banking.
“Now, more customers will have the capability to deposit their cheque via smartphone, as well as the option of heading into a branch or visiting one of our smart ATMs.”
Westpac is one of four major banking organisations in Australia and one of the largest banks in New Zealand.
The bank offers a range of consumer, business and institutional banking and wealth management services through various financial services brands and businesses.
The bank was first established in 1817 as the Bank of New South Wales, and its name was changed to Westpac Banking Corporation in 1982.