New smart phone applications from Charles Schwab and Fidelity Investments let customers deposit checks into brokerages accounts without actually having to deposit the paper check. Customers simply take a picture of the check with their iPhone or Android-based phone and upload it to their account.
The new applications puts these two investment companies more in line with other banks when it comes to mobile banking offerings. J.P. Morgan Chase, PNC Financial Services and U.S. Bancorp have already rolled out technology allowing customers to make deposits by smart phone.
Both Charles Schwab and Fidelity have safeguards in place to guard against repeat deposits of the same check.
As the concept of mobile wallets and mobile banking spreads, more Americans are testing the concept of deposits on the go. A survey by Schwab found that almost seven in 10 Americans (between the age of 18 and 44) were at least interested in deposit checks via smart phone.
According to the Wall Street Journal, other investment companies, such as Vanguard and T. Rowe Price, report that they too are exploring new mobile banking options.
Other recent news about mobile banking offerings:
Google announces Google Wallet: Pay using your mobile phone
Banks move into PayPal turf, offer electronic cash transfers
Mobile wallet app lets you pay by saying your name at checkout
Buzzword: What is NFC?
Use a Phone for Deposits on the Go [Wall Street Journal]
—Maggie Shader
No comments:
Post a Comment