More than half of the checks that consumers deposit remotely come from a mobile device according to a Federal Reserve Payments Study. Even though the overall number and value of checks deposited dropped in the last several years the use of iPhone check deposit apps help consumers quickly deposit a paper check without going to a bank.
In 2014 PayPal dropped support for the iPhone remote check deposit feature from their app, but many banks now offer this as a standard feature. The Federal Reserve Payments Study found that checks consumers deposit with an iPhone or Android mobile device are lower than paper checks, but this is likely due to the limits that many banks set.
Odds are no matter how digital you make your life you’ll still receive a few paper checks each year. With this in mind, we found 9 banks that will let you use your iPhone camera to remotely deposit your check, no matter where you are.
If you haven’t used a remote deposit app, it’s quite simple to do. If you can take a picture with your iPhone, you have all the skills you need to deposit a check with the service. Although the app takes a photo of the check it does not save it in your iPhone photos. For an example of the service in action, keep reading.
Banks with iPhone Check Deposit Apps
Chase Bank – The Chase Mobile app allows you to deposit checks with your iPhone or iPod Touch. The app and service are free and the service is available to most Chase customers. There is also a version for Small Business owners.
PNC Bank – In addition to allowing you to manage your money and accounts, the Virtual Wallet by PNC app will let you deposit checks with the iPhone, iPod Touch and iPad. If you don’t have a Virtual Wallet Account, use this PNC Mobile banking app instead.
Citi Bank – Citi Bank customers can use the Citi Mobile app to remote deposit a check and perform other iPhone banking options.
Huntington Bank – The Huntington Bank app lets you make a deposit by taking a photo of the front and back of the check.
Wells Fargo – Use the Wells Fargo Mobile app to turn your iPhone into a mobile check deposit tool that can deposit a check without visiting a bank.
Charles Schwab – If you are a Charles Schwab customer the Schwab Mobile Deposit app will allow you to deposit checks into your brokerage or bank account with two snaps of your iPhone camera. To gain access to the service you need to apply for enrollment.
USAA Bank – USAA [email protected] was the first bank to enter the remote check deposit by iPhone arena and delivers a very easy to use service with instant access to funds. Unfortunately you have to be a member of the insurance programs to gain access to remote deposit, which means you need to be a member of the military.
US Bank – With the US Bank app you can remote deposit a check from your iPhone, iPad or iPod touch.
State Farm Bank – If you have a State Farm bank account and insurance account you can use the State Farm Pocket Agent app to make a remote deposit with your iPhone.
Bank of America – The Bank of America app lets users deposit a check from iPhone or iPad.
Digital Federal Credit Union – The DCU credit union is one a of a growing number of credit unions with iPhone remote deposit apps. The DCU Mobile PC Branch allows you to remotely deposit checks and manage your account.
Randolph Brooks Federal Credit Union – If you are a member of the RBFCU, grab the RBFCU Mobile app for the iPhone to make deposits today. The service is free, though there are some limitations on daily and monthly deposits.
WV United FCU – WV United Credit Union members can use the iDeposit app to make a deposit on the go. According to the app makers they want to add more functionality to meet user requests. From the app description, “We’ve had several requests to allow cash deposits via your iPhone. As soon as the technology becomes available, we’ll get right on that one!”
How Does Remote Deposit Work?
Using remote deposit is quite easy. You sign the check and then use your iPhone’s camera to take a picture of the front and back of the check. The banking app will make sure you have a quality snapshot and then send it to the bank. Some banks will give you instant access to the funds while others, will make you wait for the funds to clear.
You can enter the amount so that it is correct, before completing the process so that you know that the amount is correct.
It is important that you hang on to the check until you receive a notification that the check has cleared and funds are available, just in case something is wrong.
How Much Does it Cost to Deposit a Check with a iPhone?
For all of these apps there is no additional charge for remotely depositing your check with the iPhone, iPod Touch or iPad.
Most banks limit the iPhone remote check deposit amount to $2,500 or lower. This means that some users will not be able to remote deposit a paycheck, but for many smaller checks the option to deposit with an iPhone is amazing.