I don't see much value in these apps where you can shoot an image of a check and deposit it, but they are big part of the big banks' advertising. Do they really have enough customers that need to deposit checks without going to the bank to make it a selling point? Maybe I'm part of the 2% that doesn't deal with paper checks very often...

perhaps it's part of the push to get everyone using smartphones on contract and bring $$$ to the carriers.

(and use the smartphone to track your every move)


or perhaps they're demographic targeting, those with cashflow in the form of a check, who aren't already using direct deposit (and thus allowing them to access to the funds asap), to get those checks to instead of being cashed, to deposit them into the account (thus giving the bank access to the funds).

It doesn't make a lot of sense with a big nationwide bank that has branches and ATMs everywhere. It'd be awesome if my credit union, which is 1000 miles away, offered this. As it is, I can scan them via a computer and a clunky applet, or bring the check to a partner credit union that's not very close.

USAA doesn't have local branches at all so if I ever want to deposit a check I either have to mail it in or else use the smartphone app to deposit electronically. I don't get checks very often but when it does it's nice to be able to get into my account quickly.

Abnormal -

USAA also has an arrangement with UPS that allows you to deposit checks at a UPS store nationwide and have it deposited into your account immediately. Since I don't have a smartphone, I've used that with zero problems.

It's under "My Account Tools", labeled "Easy Deposit at The UPS Store".

I've never heard about that before. Thanks.

Don't underestimate the value of this sort of crap for the under 30 set

Remote deposit technology has been around for businesses for the better part of ten years (that I know of..maybe it's been longer). Why not make it available to consumers? The physical paper check has meant absolutely nothing for years. Anyone know when the last time a paper check was physically presented to the issuing institution?

If the probability that the check will bounce is high enough, then you most certainly should go to a physical branch of the check writer's institution to cash it.

Wearedoomed -

I understand that some banks will refuse to cash checks (even those drawn at the same branch) unless the person wanting the check cashed has an account at that bank or unless he is physically accompanied by the person who wrote the check.

I can't vouch for this based on personal experience, but I have been told by several people that this has happened to them. IIRC, two of the banks mentioned were BofA (surprise, surprise) and Chase.

It sure is nice if you are travelling and/or overseas.

Weare.... some banks also charge for the privilege of doing that now. If you present a check at a bank at which you don't have an account, a fee often applies.

Sidenote: I went to my local CU branch at the beginning of April to deposit our tenant's rent check. He's new to the area and opened up an account at the same CU, which I thought would be a good thing. Turns out that the teller needed two other people to authorize the "own check;" they took GREAT caution in depositing a check written on their own accounts, since they knew it would have to be credited instantly and permanently. Deposit a similar sized check from another bank and they don't give any pause, save for the standard one-day hold.

Chase is running more ads for the check imaging app in prime time. The mom at the zoo who's daughter is worried that the lion will end up at the bank. Think it is a ploy to get the non-banked people to to go to Chase to get their checks cleared via smartphones so they can gouge them for fees...