cheque

An armless man from Florida got angry when the Bank of America refused to cash a cheque made out to his missus unless he provided a thumbprint.

Steve Valdez, 54, explained to the Today show that he went to his wife's branch, but "teller and branch manager refused to cash the cheque because he didn’t have an account there and he couldn’t give them a thumbprint to confirm his identity".

Despite the growing trends to use plastic credit and debit cards, Australia remains to be a cash-based society. The dominant position of cash has been found by Reserve Bank of Australia in the study of consumer payment behavior which reports the use of cash for 70% of all transactions. The use of cash to make the low value payments under $10 and 75% of payments for goods worth between $11 and $25 give such a dominant position to cash.

Central bank introduces Clear2pay cheque imaging technology instead of its cheque processing one.

OGA is a local Clear2Pay partner has been signed a contract to implement the image cheque clearing system which will be based on the European vendor's service-oriented Open Payment Framework (OPF) that lets to migrate from paper cheque clearing system that is currently in use to the unified image-based technology.