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Argentine central bank's new regulation now allows electronic deposit of checks

has passed a regulation allowing bank customers todeposit checks electronically.

Effective Nov.1, checks can be deposited by sending images of the check through applicationsfor cellphones or other mechanisms provided by entities.

Theelectronic image must contain the front and back of the check as well as thelegend "filed to collect" on both sides.

The movefollows technology trends implemented in financial systems globally and isdesigned to reduce administrative costs while continuing to have high securitystandards, the central bank said in a statement.