Mobile check deposit reaches Canada

Canadians can now deposit checks using their mobile phones, after one of the country's biggest banks announced Wednesday it was
Canadians can now deposit checks using their mobile phones, after one of the country's biggest banks announced Wednesday it was launching the feature that is already popular in other countries.

Canadians can now deposit checks using their mobile phones, after one of the country's biggest banks announced Wednesday it was launching the feature that is already popular in other countries.

Clients will be able to skip the trip to the ATM or the branch and make their deposits by simply taking a picture of the check, front and back, with a smartphone and sending the information to the bank via a special app.

"Whether you are a small business owner with a handful of customer checks at the end of day or an employee getting your weekly paycheck, you can literally make a deposit within seconds," said David Williamson, of CIBC, the first big bank in Canada to make this service available.

The bank will take several days to process the deposit, after which the customer can void and discard the check.

According to the bank, they decided to offer deposits at the request of their customers.

The function is "safe and secure," the statement added. "None of the is stored on your device and all wireless transmissions are securely encrypted."

The smartphone app with mobile deposit will be available for download in Apple and Android devices.


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© 2013 AFP

Citation: Mobile check deposit reaches Canada (2013, November 28) retrieved 15 July 2020 from https://phys.org/news/2013-11-mobile-deposit-canada.html
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