Banks in the U.S. are providing applications that allow mobile subscribers to deposit checks by taking pictures of checks using mobile phone apps. The process is called "Remote Deposit Capture" and is being increasingly used by banks such as Chase, USAA, Bank of America, and Citibank.
NEW YORK — In the near future, you might not even have to visit a bank or an
ATM to deposit a check. You'll simply snap a couple of photos of it with your cellphone.
Applications to do just that are already available for Apple's iPhone and other gadgets from USAA, a company that provides insurance and banking mainly for military veterans. Chase,Bank of America and Citibank are among the banks planning to release similar applications this year.
Although the technology, known as remote-deposit capture, promises to save consumers time, it adds a new wrinkle to concerns about fraud and the privacy of financial data. But the banks and the technology companies helping them say they have largely overcome these concerns. And with new guidelines from federal reg
Article
Email
Related Mobile Financial News
