Posted by NationalACH on Feb 22, 2010

Send Bank Deposits with Your Cell Phone

Consulting firm Mercatus surveyed US mobile banking customers on how likely they would be to use Check 21 remote deposit capture through a mobile phone. 

Not surprisingly, 66% of those age 26-34 and 69% of those 35-44 said they would use the service if it was available through their banks.

Very few banks now offer remote deposit capture by mobile.  The service enables users to convert a paper check to an electronic transaction by taking a picture of the front and back of a check and transmitting the image digitally to their bank.

The most alluring part of the service is the convenience and easy of use.  Most people do not want to drive to a bank to deposit a check if transmitting a digital image gives them the same result, which is depositing money in their bank account.

USAA is the most prominent financial institution offering remote deposit capture via mobile.  Since the company first offered the service in August of 2009, over $300 million in deposits have been made to the bank via mobile.


Mobile deposits for remote deposit capture will be the preferred method of deposit for 1.5 billion checks by 2014.

Remote deposit capture is not a big money maker for banks; but it could be a good promotional device for banks.  The high degree of consumer acceptance gives a marketing opportunity to banks to offer the service as a way to garner new customers.  

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