Jul 7 2010

Chase iPhone App Now Lets You Deposit a Check Anywhere

Posted by Simon Zhen in Banking
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Yes! Finally, another bank has followed the footsteps of USAA bank. I was one of the many banking customers who envied the USAA iPhone mobile banking app that allowed its members to deposit checks with the help of the phone’s camera.

With an update released on July 1st for the Chase Mobile iPhone App, I (and all other Chase checking customers) can now use my iPhone to deposit my checks from anywhere I please – extremely handy when I don’t have time to run to the ATM.

How It Works

1. Log onto your Chase checking account through your Chase Mobile iPhone App as you normally would.
2. Go to “Deposits” among the tabs on the bottom.
3. You’ll be asked to enroll in Quick Deposit if you haven’t already done so.
4. Enter the amount equivalent to the value of your check.
5. Using your iPhone camera, proceed to take images of the front and back of the check.

Flatten your check before you snap the images.
Make sure the entire check can be seen within the blue box on the screen.
It is best to perform the check capture on a dark, non-reflective background.

6. Review that the check information is correct and that the images aren’t blurry.
7. Submit your deposit and wait for a confirmation email.
8. Hold onto your check until it has cleared. Afterwards, you can destroy it.

Many Chase checking customers have stated the check processing time took only a few minutes before they received an email that confirmed the deposit. Like an ATM deposit, you’d still have to wait a day or two before the money is actually posted to your account.

Quick Deposit by Chase is free – no fees of any kind. The drawbacks to this service are that Chase doesn’t allow you to deposit a check with an amount over $1,000 and there is a $3,000 deposit limit per month.

If you want this nifty feature on your iPhone, go get the update!