Slashdot Mirror
Deposit Checks To Your Bank By Taking a Photo
Pickens writes "The Mercury News reports that consumers will soon be able to deposit a check by snapping a photo of it with a cell phone and transmitting an encrypted copy to their bank. Although some critics contend paperless deposits are an attempt by the banking industry to eliminate 'float,' the standard one- or two-day waiting period between the time someone writes a check and the time the money is actually taken out of their account, actually remote-deposit capture started out as a way for big companies and financial institutions to process huge numbers of checks without having to ship them around the country. 'Our customers are becoming more and more tech-savvy,' said an SVP for mobile banking at Citibank. 'We're trying to support those people on the go.' Although the process adds a new wrinkle to concerns about fraud and the privacy of financial data, banks and the technology companies helping them say they have largely overcome these concerns. Another bank SVP said, 'For many institutions struggling to raise deposits and differentiate, this is an outstanding offering they can roll out inexpensively [note: interstitial]. It's a sticky product.'"
Those are those paper thingies that nobody seems to accept these days aren't they?
Another technology where the US is the world leader!
Go USA! Go USA!
I am Slashdot. Are you Slashdot as well?
You seem to have a pretty firm grasp of our banking system :D
I hardly ever use checks these days. Can I just take a picture of some cash and deposit it instead?
I'm a 35+ year old Swede ... ... and I've never, ever, written a check.
(I seem to vaguely recall my parents doing it when I was really young though)
The US is on top of technology as usual.
You still have public baths? And you think this shows you are advanced? Here, all homes have baths and/or showers.
Toilet seat covers :). I really miss those when I go back home to Spain.
To do list for Windows