PayPal Debuts Check Deposits Via iPhone App

From PC World: Online banking is about to get even more convenient for PayPal users who will soon be able to deposit checks via their iPhone. Simply sign the back of your check, take a picture of the front and back of the check, and hit send on the PayPal iPhone App. The only drawback? No lollypops at the teller window to grab when you're done.

PayPal's Laura Chambers announced Wednesday that a new version of the PayPal iPhone app will be released in "the next day or so," according to a TechCrunch report. PayPals updated app will also allow you to donate directly to charitable organizations (PayPal has partnered with over 20,000 charities).

Mobile check depositing via phone cameras isn't new. PayPal joins a growing list of financial institutions. Private bank and insurance company USAA introduced the function on its iPhone app over a year ago, and Chase has just recently followed suit. USAA also allows its members to deposit checks from home using a scanner.

The process is simple--first, endorse your check (with your account number, or perhaps PayPal email address). Then, enter in the check amount into the app, snap a photo of the front and back of your check, and upload it to the app. The USAA app suggests that you take the photos in even lighting and place the check against a dark, non-reflective surface.

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