The impossible is rendered possible today with the newest system of cashing check: that is, doing it online.
It used to be annoying cashing check. Originally you'd have to line up at a bank, check in hand, ready for the cashing,, only to discover that the teller was ready to reject your check with a wave of her hand. Advance in technology brought in the automated kiosk to remedy this problem, making baking much easier: however, both methods still required you to physically show up at the bank.
No longer. Banks have begun to employ a new technology that will revolutionize cashing check and render the whole process a million times faster for the average consumer. That is, again, by doing it online.
How is this possible? You'd think that the checks would have to be verified in person, or at least by the bank machine into which it's going, before being passed as legitimate. Cashing by this method doesn't seem terribly secure for the bank.
But it is. Cashing in this case is done via a remote terminal. All the person need do is scan their check into a specialized piece of hardware. The scanner scans both sides of the check and sends the resulting image and accompanying information off to the bank.
There the image is stored in an online database – a 24-hour-a-day database – in the form of a substitute check, which sits and waits for an employee to come along and verify its validity. Once that's been done it's just a matter of processing the money as normal and depositing it directly into the person's bank account.
Worried that the checks can be used again? Don't be. The scanner will electronically mark the piece of paper as being cashed.
The technology is expensive, this is true, and not widespread. Few banks have instituted it yet because of the sheer cost of both the software and the hardware necessary to make it work But its proponents insist that it will provide a valuable service to a much wider clientele in the coming future.