Depositing cheques online

Why can’t we have the option to deposit our cheques online. all financial firms should do it. Anyone agree… we claim we’ve come along way with technology’s yet we can’t build a proper system to work off. One that is fair and equal.


Yes and no. I wouldn’t want to see Xinja waste resources on building cheque functionality themselves, but I absolutely want them to invest in a Bank@Post integration. With Xinja being branchless, Bank@Post would allow us to visit a post office to deposit cash into our accounts and you guessed it…cheques.

Many people have requested it, but this far Xinja have not added it to their roadmap, so at this stage it’s yet another reason not to use Xinja.

It feels like an idea that definitely has some sort of merit to it and is worth some serious consideration, but there are clearly a bunch of large caveats.

The significant pro is the access opportunities (particularly in rural and remote areas) would have to be of theoretical significant benefit, but with the company saying they aren’t going to deal with cheques or cash… well… that’s basically what Bank@ Post is, so without the company offering that, it’s hard to see it happening.

With no ability to accept cash or cheques, the only way that it would work would to be like an in-person ATM to withdraw.

@yogi The answer from Xinja at the moment is to maintain accounts with another bank.

I do all my banking with my other bank right now because with them I can do everything Xinja can do (much better may I add) plus everything Xinja can’t do, which is a lot. Basically full service banking.

So the question I often ask myself is what reason do I have to use Xinja for anything at all? As an investor I’d hoped to use it for everything but that isn’t going to be possible, they simply are missing to much and the roadmap doesn’t address everything.

False claims when they started of taking on the big banks, but from where I sit they have zero hope of ever doing that. Not even in the same league.

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@brett The only other slightly theoretical scenario could become that the company offers an in and out cash service, solely as a Bank @ Post option.

I don’t know the set up involved here and the costs might outweigh the benefits and I don’t know any statistics of how the service is used by people in the current day. I understand the usage of cash in current times will have fallen.

I do always find the talking of a new national banking service through Australia Post a very interesting one, but with 70+ institutions offering the service, maybe it’s just not high up the chart of priorities for a company really pushing to be only online.

I think definitely worth exploring though. Perhaps someone will ask about it at the AGM. I would be curious as to Eric’s thoughts.