Cheque deposit via banking app - who knew? (probably everyone)

Lmao I have a cheque that needs depositing too and was wondering how I do it since the only Bankwest is 15km’s from me. Thanks

 

Good to know this.

 

You can deposit checks at post office too.

 

Or post it to a branch with a deposit form

 

@wylie I didn't but checked my WBC and I can there, but cannot do so with ING

Westpac customers can now deposit cheques via mobile

 

I figured this must have been a thing, but sadly can't find such an option in my Commbank app. Would love to be wrong!

 

Maybe this is why Bankwest doesn't have it either. I just tried to deposit a BW cheque but couldn't find it

 

You should be able to do it on line it is decades old technology. Click on deposit cheques and enter details. You will need to print the deposit slip and post it to your bank. The Cheques need to be less than 15 months old should be cleared within 3 days of deposit slip being received. A better way will be to deposit it at a Post Office they use technology that is not decades old and you funds should appear instantly and be available soon after, At least the Australia Post CEO's earnt their gold watches. The banks too concerned on paying out dividends than investing in updating and improving services.

 

I thought the issue with those was cash deposits? The machines counted the cash, it was real, but they didn't meet the Austrac requirements. And the $ could be withdrawn from overseas immediately.

I think the ATM cheque deposits have always still had a hold period.

 

The CBA machines were accepting huge CASH deposits. Tens and hundreds of thousands at a time and often many many envelopes for the same accounts each exceeding the max and all of which did. AUSTRAC alleges that CBA didn't limit the number of transactions a customer could make per day, and that its (Smart) Intelligent Deposit Machines were installed to replace bank staff and allowed up to 200 notes per transaction and multiple times per account per day. None were reported.

IDMs also allowed anonymous cash deposits, so it wasn't long before the system was abused by criminals.For a criminal, that means you could potentially put millions of dollars through a machine in one day anonymously. And data subsequently produced showed that occcurred. CBA smart ATM deposits rose exponentially vs any competitor. Criminals exploited the vulnerability because the money appears instantly, a user can immediately transfer the money to another account – say, one that exists offshore.

Cheques have no maximum reporting value. That said a bank can and may report unusual deposits and transfers anytime under AML laws (Anti terrorist & money laundering). CBA didnt.

CBA machines still had to clear cheque deposits but the "laundering" occurred on cash deposit as subsequent movement of "cleaned" funds could have been (and was alleged to include) individuals and entities of dubious repute. Cash was straight to the customer account, This is why deposits of cash as well as cash "movements" across borders are reportable.

AUSTRAC made a number of allegations against the Commonwealth Bank in its civil proceedings.The most significant is that the bank failed to flag more than 53,000 transactions over the $10,000 limit that passed through the smart ATMs over three years. It seems the CBA admitted whoever installed the machines back in 2012 simply didn't realise transactions above $10,000 had to be reported, and never wrote the code.

 

Over 70 different banks and institutions! Can do cash withdrawals, deposits, bank cheque deposits. I live at my post office. I definitely need to get out more . Usually there’s a JP there to sign my documents as well. It’s a one stop shop!

 

Aust Post are the banks best friend. Now when they close branches they offer a plan B. We have had three banks all close local branches and their answer is - use the post office. My own branch has moved so many times I cant tell you what suburb it is...Its nowhere nearby.

You just have to run the gauntlet of reject shop items and they are always understaffed because people think you must queue to buy postage labels and post packages.
You can prepay and print them at home !! Print postage labels and in ebay. Walk in and drop it off.