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Check Clearing for Everyone

October 6, 2010 6:22:17.177

This is interesting - it makes it far easier for individuals to clear checks into a business account (and safer too, as there's no run to the bank with a bundle of money):

Last week we told you about the upcoming check capture feature in the iPhone PayPal app. This new feature uses your device’s camera to capture checks so they can be deposited into your PayPal account. This feature is similar to the Chase banking app and snaps the front and back of the check you want to deposit.

You wouldn't want to use your iPhone to process a huge number of checks, but this would work for small scale stuff.

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posted by James Robertson

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