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.'"
They also have had an iPhone app for quite a while to do this. I've been using it for about 6 months.
and this guy whips out this fat roll of cash and drops a $100 to pay for a 25 cent newspaper. while the attendant was yelling at the guy that he couldn't take anything that large, i whipped out my iPhone and snapped a quick pic of the guy's cash wad, and 25 seconds later i had $5,230 in my checking account! woohoo!
intellectual property law is philosophically incoherent. it is your moral duty to ignore it or sabotage it
They do.
I've been using Deposit@Home for a few years now. I'm not sure if you have to have a credit card through them or not to make it work, but it is a very slick process.
I was confused why this is news--the USAA iPhone app was featured on /. when it first became public information. Other banks are just slow I guess....
"We don't know what we are doing, but we are doing it very carefully,..." Wherry, R.J. Personnel Psychology (1995)
Well I guess it just shows how the rest of the poor bastards that can't get USAA are finally realizing how great this service is. Too bad the other banks can't touch USAA's customer service record.
USAA does this already. Now, if my bank would let me take a photo of cash and deposit that into my account...
I'm a consultant - I convert gibberish into cash-flow.
https://www.usaa.com/inet/ent_utils/McStaticPages?key=bank_deposit USAA Has been doing this already and even has Iphone app
USAA's bank division has been doing this for months with their iPhone App and it works quite well.
Been doing this with USAA and a scanner for a couple years now. USAA also has a phone app for both Android and iPhone and possibly for Blackberry.
Im a troll because I disagree with you.