4 ms·

Sounds like you've never experienced the joys of depositing checks by taking pictures of them on your phone. I do this now with my current bank and it's awesome

Sounds like you've never experienced the joys of depositing checks by taking pictures of them on your phone. I do this now with my current bank and it's awesome. (And I don't think anyone is suggesting that the website is replaced with an app, but rather that the app would supplement the website).

bergie 15y ago
You know, the only times in my life I've even seen a check have been when dealing with some US company (which is rarely). I have to admit being greatly amused with the combination of really old and really new that you have in using mobile apps to handle checks.
- Roedou 15y ago
  A Brit here, who has recently established a (B2B) company in the US. The check thing really surprised me too. The USA still loves checks: we receive them for most of the work we do, and make a lot of our payments that way. From a personal perspective, I rarely use checks, except (and this blew my mind) I can set up a regular payment through my bank's website to a recipient. If the recipient's bank is on a similar system, the transactions are made digitally. If not, then they automatically mail a check each month. Transparent to me, but seriously.
jarek 15y ago
Sounds like you've never experienced the joys of free, instant wire transfers. Taking pictures of cheques? Are you going to telegraph them after?
- jonknee 15y ago
  Free wire transfers are great, but what does that do for you when you have a check in your hand? How about both?
  - jarek 15y ago
    Why would you have a cheque in your hand if you and everyone else have the option of using wires?
    - jonknee 15y ago
      A) not everyone does yet B) with a check you don't have to get any information from who you're paying other than the name.
jimbokun 15y ago
I'm sure I'm going to feel really dumb after getting the answer to this, but what prevents someone from sending a picture of the same check to deposit in multiple banks through their respective phone apps?
- stickfigure 15y ago
  Probably the same thing that prevents you from making up fake checks: 1) It will eventually get reconciled through the clearinghouse and the extra funds reverted. 2) The lawman will come for you.
- joelhaus 15y ago
  The biggest deterrent is probably the criminal check fraud charge you would face. Most banks also have additional counter-measures in place to detect this type of fraud too, but you are right, it is a concern: http://www.americanbanker.com/btn/22_3/-374033-1.html http://www.americanbanker.com/btn/22_3/-374033-1.html
pingswept 15y ago
If you don't mind me asking, what is your bank? Is their non-mobile website decent?

bergie 15y ago

You know, the only times in my life I've even seen a check have been when dealing with some US company (which is rarely). I have to admit being greatly amused with the combination of really old and really new that you have in using mobile apps to handle checks.

Roedou 15y ago
A Brit here, who has recently established a (B2B) company in the US. The check thing really surprised me too. The USA still loves checks: we receive them for most of the work we do, and make a lot of our payments that way. From a personal perspective, I rarely use checks, except (and this blew my mind) I can set up a regular payment through my bank's website to a recipient. If the recipient's bank is on a similar system, the transactions are made digitally. If not, then they automatically mail a check each month. Transparent to me, but seriously.

jarek 15y ago

Sounds like you've never experienced the joys of free, instant wire transfers. Taking pictures of cheques? Are you going to telegraph them after?

jonknee 15y ago
Free wire transfers are great, but what does that do for you when you have a check in your hand? How about both?
- jarek 15y ago
  Why would you have a cheque in your hand if you and everyone else have the option of using wires?
  - jonknee 15y ago
    A) not everyone does yet B) with a check you don't have to get any information from who you're paying other than the name.

jimbokun 15y ago

I'm sure I'm going to feel really dumb after getting the answer to this, but what prevents someone from sending a picture of the same check to deposit in multiple banks through their respective phone apps?

stickfigure 15y ago
Probably the same thing that prevents you from making up fake checks: 1) It will eventually get reconciled through the clearinghouse and the extra funds reverted. 2) The lawman will come for you.
joelhaus 15y ago
The biggest deterrent is probably the criminal check fraud charge you would face. Most banks also have additional counter-measures in place to detect this type of fraud too, but you are right, it is a concern: http://www.americanbanker.com/btn/22_3/-374033-1.html http://www.americanbanker.com/btn/22_3/-374033-1.html

pingswept 15y ago

If you don't mind me asking, what is your bank? Is their non-mobile website decent?