I am assuming that alot of you have direct deposit, be that may of not this is a cool idea. For me I live with a roomate and he cuts me a check for his share of the rent, then I stumbled upon this gem.
USAA, a small, privately held bank catering mostly to military personnel, will be the first to roll out an iPhone app that lets you deposit a check to your account just by photographing both sides of it. The app update is scheduled to launch this week, the New York Times reports.
It's only a matter of time before the big banks do it. Chase, wells Fargo and bank of america.
Posted from my CrackBerry at wapforums.crackberry.com
Yeah I heard about this. Most of the banks already have this technology in place, it is just a matter of ensuring its viability and security on a mobile platform. You can already scan your checks at a lot of BoA ATMs for electronic deposit.
Also, USAA is not that small... I believe they are one of the largest 15-20 banks in the USA in terms of assets. Which is good for consumers, since other larger banks will probably follow if the USAA plan ends up being a success.
I have usaa, its for military, and government/state employees. Scanning checks and sending via their website is already allowed and soon I guess the whole iphone picture option, but dont expect it to come to other banks too soon.
I guarantee that this at first will go off smoothly and then a while later, fraud, counterfeit and theft will be coming from this, I worked as a teller for a couple of years so depositing and cashing a check is serious business
Can u imagine how many things will go wrong with this like honestly just think about it for a minute what a bunch of fools
Not sure about your point...if a lot of banks are already allowing a scanned copy of check to be used, what would it differ in terms of accepting a photo of the check??
It's a nice idea but it sounds a little risky to me. I could def see this being used for fraud. There are lots of little signs and watermarks to show that a check isn't a fake. How can these be apparent in a photo taken with a crappy iPhone camera?
I am assuming that alot of you have direct deposit, be that may of not this is a cool idea. For me I live with a roomate and he cuts me a check for his share of the rent, then I stumbled upon this gem.
USAA, a small, privately held bank catering mostly to military personnel, will be the first to roll out an iPhone app that lets you deposit a check to your account just by photographing both sides of it. The app update is scheduled to launch this week, the New York Times reports.
It's only a matter of time before the big banks do it. Chase, wells Fargo and bank of america.
Posted from my CrackBerry at wapforums.crackberry.com
would be amazing if this came to canada and security was some how ensured...
and security was some how ensured... 