As money increasingly goes digital, with online-only banks and apps that allow money transfers by tapping phones, customers have a new way of handling paper checks by the use of there smartphones.
Instead of using an ATM or a bank teller to deposit a check, customers of a growing number of institutions can endorse the back of a check, take a photo of the front and back, and then upload the images via their bank’s or other financial institution’s mobile app.
Deposit Checks with Android Smartphones
Android has just given us one more reason to skip the line at the bank and play with our phones instead. You can now use your phone’s camera to scan a check, and deposit it straight into your account.
The company says it’s been “uploading a million dollars a month” (how cool does that sound?) with its iPhone app. And now you can do the same with Android. Leave it in your account, or transfer to your bank account. Your call.
Deposit Checks With Apple Smartphones
Endorse the check so that it can be deposited to your account. Your bank may have specific instructions on how to endorse, and they may even pop up on-screen as you deposit a check with your iPhone.
Open your banking application, and choose the “Deposit” option (or something similar). You may have to provide information, such as the amount of the check, or it may get read from the check automatically — it depends on your bank and the check writer’s handwriting.
After you take photos, confirm that they are clear. Again, your banking application will most likely guide you through this process, asking for verification before submitting the images
Most Banks Allow Deposits from Your Mobile Device
In the past few years, large financial institutions like PayPal, PNC, ING, Chase, State Farm, and Bank of America, as well as credit unions and smaller regional banks, have added this capability to their mobile apps. Many offer the service for free, but some tack on fees.
Banks limit the amount you can deposit digitally by the day or the month. Fraud-prevention strategies ensure that “somebody could not take a picture of a check and deposit the check at multiple places.
The Chase Mobile app allows you to deposit checks with your iPhone or iPod Touch. The app and service are free and the service is available to most Chase customers. There is also a version for Small Business owners.
In addition to allowing you to manage your money and accounts, the Virtual Wallet by PNC app will let you deposit checks with the iPhone, iPod Touch and iPad. If you don’t have a Virtual Wallet Account, use this PNC Mobile banking app instead.
Citi Bank & Huntington Bank
Citi Bank customers can use the Citi Mobile app to remote deposit a check and perform other iPhone banking options. The Huntington Bank app lets you make a deposit by taking a photo of the check.
Wells Fargo & Charles Schwab
Use the Wells Fargo Mobile app to turn your iPhone into a mobile check deposit tool that can deposit a check without visiting a bank. If you are a Charles Schwab customer the Schwab Mobile Deposit app will allow you to deposit checks into your brokerage or bank account with two snaps of your iPhone camera. To gain access to the service you need to apply for enrollment.
USAA was the first bank to enter the remote check deposit by iPhone arena and delivers a very easy to use service with instant access to funds. Unfortunately you have to be a member of the insurance programs to gain access to remote deposit, which means you need to be a member of the military.
US Bank & State Farm Bank
With the US Bank app you can remote deposit a check from your iPhone, iPad or iPod touch. If you have a State Farm bank account and insurance account you can use the State Farm Pocket Agent app to make a remote deposit with your iPhone.
Bank of America & Digital Federal Credit Union
The Bank of America app lets users deposit a check from iPhone or iPad. The DCU credit union is one a of a growing number of credit unions with iPhone remote deposit apps. The DCU Mobile PC Branch allows you to remotely deposit checks and manage your account.
Randolph Brooks Federal Credit Union
If you are a member of the RBFCU, grab the RBFCU Mobile app for the iPhone to make deposits today. The service is free, though there are some limitations on daily and monthly deposits.