Israel Allows Mobile Deposit of Post-Dated Checks Up to NIS 100,000
Translated & summarized from Ynet by baba
Israel's Bank of Israel has launched a new mobile service allowing customers to deposit post-dated checks up to 100,000 shekels for future payment via bank apps. This service is available 24/7 and eliminates the need for branch visits.
The story in 5 lines · by baba
- Mobile deposit of post-dated checks is now available in Israel.
- The service is enabled by the Bank of Israel.
- Deposits are capped at 100,000 shekels.
- Checks can be deposited up to 13 months in advance.
- The service operates 24/7 via bank apps.
Starting this week, a new service enabled by the Bank of Israel allows customers to deposit post-dated checks for future payment through their bank's mobile applications for the first time. The central bank announced that this new feature will permit the deposit of checks marked 'for beneficiary only' up to a value of 100,000 shekels and with a maturity date up to 13 months in the future.
The service will be available continuously, 24 hours a day, seven days a week, eliminating the need to visit bank branches. A photograph of the check will be stored by the bank and presented for payment on the requested date.
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