Coming Soon, Smartphone-Based Banking 187
An anonymous reader writes "Banks will be offering a new service at the end of the year that will let customers take a photo of a paper check and have it be deposited in their bank accounts, making the smartphone one step closer to an ATM."
Fraud no different (Score:1, Interesting)
Committing fraud with checks is just as easy whether you take a photo or mail it in. I think it is a great idea for an interim solution. In the end there will be fraud investigation whether it was a photo or a washed check.
Later on down the road I would like to see a secure paperless money system that does not require me to touch dollar bills that came from a strippers g-string and to not stand behind old ladies writing checks at Wal-Mart for $2.68 of merchandise
I have some questions (Score:2, Interesting)
Can you deposit a money order or cashiers check?
Is there a fee? I'm sure there is.
How long is there a delay between submitting and getting your money?
Re:Ditch checks! (Score:1, Interesting)
What happens when you charge a $1300 macbook pro to your credit card for someone else, and then need compensation for it? I don't want cash, it is dangerous. I would have to go to the bank to deposit the cash too. I don't want a giftcard for $1300. It would take a long time to use up, and the credit card bill would be coming in just a few weeks. Most non techies don't have paypal or know how to transfer money between bank accounts for free. So yes, I still get checks from people like this, usually my parents or grandparents. Do you know what happened when my Dad gave me 600 in cash and I didn't get around to putting it in the bank? Someone just walked right into my room and stole it.