Israel Allows Mobile Deposit of Post-Dated Checks Up to NIS 100,000
Translated & summarized from Alarab by baba
Israel has launched a new banking service allowing customers to deposit post-dated checks, up to 100,000 shekels, via smartphone apps. This initiative, mandated by the Bank of Israel, eliminates the need for branch visits and is available 24/7 for checks dated up to 13 months ahead.
The story in 5 lines · by baba
- Post-dated checks can now be deposited via smartphone apps in Israel.
- The service is available for checks up to 100,000 shekels.
- Checks can be post-dated for up to 13 months.
- The Bank of Israel mandated the new mobile deposit feature.
- The service operates 24/7, removing the need for branch visits.
Starting this week, a new banking regulation in Israel allows customers to deposit post-dated checks directly through their smartphone banking applications, eliminating the need to visit physical bank branches. This initiative is being implemented following instructions from the Bank of Israel.
The service is available for checks marked "for beneficiary only" and can be used for amounts up to 100,000 shekels per check. The checks can be post-dated for up to 13 months into the future. The new mobile deposit feature operates 24 hours a day, seven days a week, offering customers full-time accessibility.
This change represents a significant advancement in banking services, aiming to streamline the process for customers and enhance digital banking capabilities across the country.
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