Deposit Checks By iPhone

kaychoro writes to mention that at least one privately held bank is planning on removing a little bit more legwork for the consumer by allowing the electronic submission of paper checks via a new iPhone app. The app would allow users to take a picture of the front and back of the check and submit that to the depository. "Customers will not have to mail the check to the bank later; the deposit will be handled entirely electronically, and the bank suggests voiding the check and filing or discarding it. But to reduce the potential for fraud, only customers who are eligible for credit and have some type of insurance through USAA will be permitted to use the deposit feature. Mr. Peacock said that about 60 percent of the bank's customers qualify."

Comments

Checks

[arth1]

Some countries still use personal cheques? How quaint!

Re:Checks

[Anonymous Coward]

A few years ago, when AdSense was brand spanking new, I cashed my first cheque.
The cheque was for $210 or so, of which my bank kept a $50 processing fee.

It also took them roughly five minutes to figure out how to handle a cheque.

Luckily, subsequent cheques were a few thousand dollars each, so the $50 fee didn't hurt too much.
I'd be amazed if there's a bank office here that handles more than one cheque per day.

Location: obviously somewhere in Europe.

Re:Checks

[spoilsportmotors]

Probably, considering that I couldn't get my state treasury to issue a single old person. Stupid economy.

Re:Checks

[SBrach]

Ohhhhhhh, so instead of checks you have pre-printed pieces of paper that you fill out and take to your bank. How futuristic.

Re:Oh God Make It Stop

[BadAnalogyGuy]

*This* is why you voted for Obama?

This and the unicorns.