Electronic signature on a cheque?

Tim79

Wonder if anyone can assist with a query of mine to do with cheque cashing services...
I know cheques are becoming a thing of the past and back in 2009 it was predicted they'd be history by now.
However, is it possible for a customer to have an electronic signature on a cheque rather than a typical wet signature?
If this is acceptable, is there anything preventing this from being added remotely - as in the customer never sees the physical cheque, the signature will be transposed on to the cheque which is then printed elsewhere?
Many thanks!

eskbanker

Corporate cheques (e.g. customer refunds) issued in significant volumes by large organisations often have reproductions of signatures rather than literally wet ones, but I can't see there being much appetite for this to be extended into the personal banking environment - little or no benefit, potentially costly to implement securely, open to fraud, many better ways to move money, etc, etc....

Zanderman

I'm not quite clear what you're suggesting - but it would appear to be a variation on payment systems - and I have to wonder what would be the point?  There are already a plethora of ways to pay people.

As for cheques 'becoming a thing of the past' the number of banking apps that have recently added - or are now planning to add - cheque paying in systems would suggest that this is not the case.  Cheques may be unusual for some, but are still the norm for many individuals and organisations.   And they have their place - an existing system that doesn't have to worry about all these new-fangled issues like 'confirmation of payee' as it's er, written on the cheque. 

eskbanker

Zanderman said:

As for cheques 'becoming a thing of the past' the number of banking apps that have recently added - or are now planning to add - cheque paying in systems would suggest that this is not the case.

I'd have thought that cheque imaging functionality has only been introduced within apps because of a cost/benefit case supporting this, where it makes financial sense to save heads by offloading at least some cheque processing activity to customers - I doubt that in itself it signifies a 'vote of confidence' in a continuing future for cheques, the volumes of which are continuing to plummet, with 2019 20% down from 2018 and now only just over 20% of the 2009 volume, according to UK Finance.