All clear in no time
Bank of Thailand's new system shortens the cheque clearing cycle to one day nationwide from 3-5 days
- Published: 7 May 2012 at 00.00
- Newspaper section: Business
Cheques are one of the most inconvenient payment methods, and they can take up to three days to clear upcountry.
The Bank of Thailand has introduced a new cheque clearing system that uses digital images instead of physical cheques.
The system eliminates the need to transport the actual cheque to a clearing centre, thus reducing the time for clearing.
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