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One million more customers set to benefit from Barclays innovative cheque imaging technology

Barclays has invited one million more of its customers to take part in the roll out of its ground-breaking cheque imaging service which allows cheques to be paid in at any time, in any place, simply with a few clicks on a smartphone.

With millions of cheques sent in the post as Christmas presents last year, Barclays’ customers can look forward to the ease of paying in their Barclays cheques on the spot and, as the scanned cheque is immediately on their account, there will be no delay in hitting the Boxing Day sales.

The new technology also means customers who do not have the time to visit their branch or ATM to carry out the transaction will now have another option. Now, all they have to do is take a photo of the cheque they want to deposit on their smartphone before filling in a simple electronic deposit form and hitting send. This extra solution will help put an end to the £300m of cheques in the UK which are never paid in each year.

Barclays Personal and Corporate Banking Chief Executive, Ashok Vaswani, said: “Our customers really appreciate the cheque imaging service, and so we are delighted to be extending the service to a million more people in time for Christmas as well as looking to roll this out to our corporate clients.

“Innovations like this are all about giving our customers more choice, saving them time and money and ensuring they can do their banking where and when it suits them best.”

The pioneering technology has been available to an increasing number of retail customers since June 2014, allowing them to pay in their cheques using their iPhone. It has received extremely positive feedback, with 90% of users saying that it enabled them to do everything they wanted.

Barclays will also shortly be trialling the technology with corporate clients in another UK first, offering the potential for businesses to ultimately save huge amounts of time and money paying in their customers’ cheques to the bank.

With figures from Barclays alone suggesting their corporate clients still put through around 46 million cheques each year, with a value in excess of £100bn, the technology is designed to make the processing of cheques quicker and easier.

Barclays will be continuing the drive towards image-based cheque processing in 2015, extending the pilot to Android based smartphones, as well as enhancing and speeding up the solution even further for corporate clients. Barclays will also be looking to introduce the technology to charities who are set to be big winners as 66 per cent of their donations come in the form of a cheque.

This latest innovation from Barclays comes just days after it announced the launch of Barclays Video Banking providing a new, secure, face-to-face service for customers to carry out their banking wherever they are.

Alongside the availability of colleagues in branch, through mobile, telephone and social media, the service will give customers the choice to carry out a face-to-face video call with a Barclays colleague from their smartphone, tablet or computer at a time and place convenient to them. The 24/7 service will create a round the clock, face-to-face banking service for the first time.

Available from the 8th December for Premier customers, the service will be rolled out to mortgage, business and wealth customers from early 2015. It will then be made available to all retail customers, automatically matching customers to a specific member of staff they have spoken to previously, if available.

Notes to Editors:
Background information on Barclays’ cheque-imaging pilot:

A demonstration of the retail technology can be found at: http://www.barclays.co.uk/MobileBankingservices/FutureOfCheques/P1242668989519

Barclays is the only bank to be piloting cheque imaging.

For retail customers this means that they will be able to pay in cheques simply by taking a photo of them on their iPhones. The money will be available for withdrawal instantly, and the cheque cleared in a maximum of 2 working days (1 day if it is deposited by 4pm) , rather than the current 6, and they can be paid in from any location 24 hours a day.

Corporate customers will be able to scan and upload cheques using software on their office computers or by logging into a website. They will have immediate visibility of, and access to the funds. However, they will need to wait the standard 6 days to be sure that the cheque will not bounce. We will be trialling improvements to this timeline, along with enhanced functionality, in the coming months.
About Barclays

Barclays is an international financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth management with an extensive presence in Europe, the Americas, Africa and Asia. Barclays’ purpose is to help people achieve their ambitions – in the right way.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 135,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com.