Maybe iPhones really can do anything!
Want to be able to take advantage of mobile banking and still use personal checks? There’s an app for that!
One of the biggest arguments against checks is that their use is declining because of other forms of payments like credit and debit cards, Paypal and various types of online payment.
Now mobile banking is coming into the picture. That’s when a person uses their mobile phone to complete certain financial transactions using SMS or mobile Internet access.
So how do personal checks fit into this picture?
Chase Bank has updated an application to give its customers the ability to deposit personal and business checks from their iPhones.
Those with Chase Mobile can now use a feature called Quick Deposit to get money from checks into their accounts from wherever they are.
Here’s how it works:
You simply select your account, enter the amount of money on the check, and then snap a photo of both the front and back to make the deposit. Finally you should write VOID across the check and then throw it way or shred it.
This is a totally legitimate way to use checks. That’s because in 2004 a law went into effect called Check 21. It made it legal to replace paper checks with digital versions.
It’s made check processing much faster and more efficient for financial institutions and merchants. Now it’s finally come around to the personal finance side of things.
That means no more runs to the bank to cash personal checks. Talk about convenient!
Chase isn’t the first bank to come up with this idea. Texas-based USAA Bank also has an iPhone app that allows customer to deposit checks with mobile banking. In fact USAA lets people who bank with them deposit checks using a scanner as well.
Hopefully, more banks and smart phone makers will jump on this idea. People who are already using the feature have a lot of good things to say about how easy and practical it is. Read more about it at Mashable.com.
Advancements like this prove that it still makes sense to order personal checks online.
When you order from Check Advantage, you’ll find a wide variety of very cool personal checks. The coolest thing about them is they are exclusive to our website. You won’t find our personal check designs on checks anywhere else. Browse our designs and keep checking back because we’ll be adding new styles on a regular basis.
But why should the iPhone be the device that does everything? Why should Chase and USAA be the only banks with satisfied customers? If you’re a Droid user or a Blackberry person – start making some noise online so there are ways for you to use your phones to make mobile deposits.
While you’re at it – get on those phones and call your bank. Let them know you want this feature too!
If those companies are wise, they’ll listen to you. Because like we always say – there’s nothing more important than keeping your customers happy!
Of course all the functions of the iPhone can be used for both good and — well just watch this video.
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