Slashdot Mirror
Coming Soon, Smartphone-Based Banking
An anonymous reader writes "Banks will be offering a new service at the end of the year that will let customers take a photo of a paper check and have it be deposited in their bank accounts, making the smartphone one step closer to an ATM."
Committing fraud with checks is just as easy whether you take a photo or mail it in. I think it is a great idea for an interim solution. In the end there will be fraud investigation whether it was a photo or a washed check.
Later on down the road I would like to see a secure paperless money system that does not require me to touch dollar bills that came from a strippers g-string and to not stand behind old ladies writing checks at Wal-Mart for $2.68 of merchandise
What types of checks are allowed? Is it all types? Personal and Paychecks?
Can you deposit a money order or cashiers check?
Is there a fee? I'm sure there is.
How long is there a delay between submitting and getting your money?
What happens when you charge a $1300 macbook pro to your credit card for someone else, and then need compensation for it? I don't want cash, it is dangerous. I would have to go to the bank to deposit the cash too. I don't want a giftcard for $1300. It would take a long time to use up, and the credit card bill would be coming in just a few weeks. Most non techies don't have paypal or know how to transfer money between bank accounts for free. So yes, I still get checks from people like this, usually my parents or grandparents. Do you know what happened when my Dad gave me 600 in cash and I didn't get around to putting it in the bank? Someone just walked right into my room and stole it.