TweetTweetEven with online and mobile banking and online payment services like PayPal, checks are still a preferred way of payments, especially for banking customers who want to get their stamped or deposited checks as receipts.
Personetics As banks ramp up their online services, we’re seeing a crop of new mobile tools that aim to make consumers’ lives easier.
To be clear, Digital Banker isn’t a smartphone app, but a series of Siri like components that banks can purchase and roll into their own apps or websites, says Ido Ophir, vice president of products.
Bank of America, for one, has enabled this feature on its iPhone app earlier this month.
But with the latest version 4.0.50 update to its Android smartphone app, clients can now deposit checks straight from any compatible Android phone.
BofA customers can log into their accounts on the iOS, Android, and Windows Phone apps (links to all three at the end) to snap pictures of the front and the back of a signed check, and have the funds appear in their balance sheet quicker than deposting using an ATM.
The process is fairly easy: the app asks you to photograph the front and back sides of an endorsed check, and you will then have to input the amount and the target account for crediting.
Of course, funds will not be available immediately, as these will have to go through the usual check verification and clearing process.
The mobile check deposit feature still doesnt work on tablets, though, but the bank is working on updating its tablet version, which should include this feature.
This one feature, the ability to depost checks with your smartphone camera, makes the app well worth a download from your respective mobile platform’s app store.
SOURCES BofA App on Google Play TAGS FinanceOnline Banking NEXT: T Mobile USA announces Android 1.5 Cupcake update for G1 owners.
Julia Macdonald is a business journalist based in Cairns, Australia. Julia has a passion for financial markets and breaking news stories and loves writing about business news, stock market, and economic opinions that matters most to its audience. Julia spends a lot of time discovering and researching latest financial markets and industry news stories in order to make sure the latest and greatest stories are brought to you first on BigBoardNews.com.