Chase Bank rolled out a major new release to its iPhone app on Thursday (v. 2.3.1) with the addition of both remote deposit capture and peer-to-peer (P2P) payments (see inset). Chase is the first to support both those important features in its mobile app (note 1). This post covers remote deposit, and I’ll look at the P2P feature later.
How it works
I had been looking forward to depositing a check via the magic of the iPhone. But sadly, despite following the directions and capturing a good image of the front and back of the check, the software failed to scan the amount correctly (see screenshot 7).
The Chase app said the check scanned in at $0, despite it being a printed $200 check. I was testing with my trusty version 1 iPhone (circa 2007), which may not have a sharp enough camera. I’ll try it on a newer iPhone and update the post.
Here’s the process for new users (click on the thumbnails to view larger versions):
1. The Chase Quick Deposit service has been added to the main navigation bar across the bottom.
2. Customers agree to terms and conditions. Note: The service is limited to $1,000 per day and no more than $3,000 per month, eliminating many businesses as potential users.
3. On the first screen, users enter the dollar amount of the check.
4. The app provides instructions on how to successfully capture the check image.
5. Take pictures of the front and back of the check.
6. Double check image quality.
7. Error message saying that the dollar amount from the scan ($0) did not match the amount entered ($200).
Summary: Despite the glitch on my first deposit attempt, I’m glad to see Chase moving the mobile state-of-the-art forward. I’m sure we’ll see remote deposit added to most major mobile banking apps in the near future.
1. Signup screen 2. Customer agreement 3. Enter amount
4. Hints on image capture 5. Photograph the check front and back
6. View photo results 7. Error message
1. USAA was the first major bank with mobile remote deposit, launching it in Sep. 2009; while WV United FCU was the very first with it almost exactly one year ago.
2. For more on mobile banking and payments, see the most recent issue from Online Banking Report.