There’s good news if you’re a Chase bank member and rock an Apple iPhone, as the banking app has been updated to include cool new features.
The iPhone app lets you do what you’d expect, including finding ATMs near you, check account balances and transfer funds. The cool part of this update is that now you can use the Apple iPhone camera to deposit checks.
How does it work? Well, you just fire up the app and then take a clear picture of the front and back of the check you want to deposit (make sure you sign it, too). The app will be able to analyze the amount and validity of the check and then you’ll be able to deposit it to the account of your choosing.
This isn’t the first bank to do this, but Chase is the first mainstream bank to offer this check-depositing capability. I use Chase for my banking needs and I can’t wait to try this out.
I wouldn’t be too worried about security implications, as optical scanning is essentially how ATMs accept checks nowadays. Using your phone to accomplish this can just save you a trip to your bank. Besides, it’s all fiat money anyways, so the physical check’s not that important.
– Download Chase Mobile for iPhone (free) [iTunes Link]