Wells Fargo finally started allowing check deposits by cellphone in
Georgia. You can use your phone to log into the bank and deposit a
check by taking a photo of the front and back of the check.
As far as I know, you still can not scan a check with a home scanner
and upload the image to the banks's secure area. Being able to
deposit a check by cellphone is better than having to take it to the
bank, but I wonder why you could not do the same thing using a home
scanner? My scanner takes a much clearer image of the check than my
I don't know if most scanners do this, but I know mine doesn't. In a
case of making a copy of a check or insurance card or driver's
license, it would be nice to be able to put the card on the scanner
and have it scan the picture of the front and then move the card down
and let the scanner take a picture of the back and combine both
Scanners can make photo files too. All sorts of options. Maybe that
is one of the problems, the phone will give a consistent image from
everyone while every scanner may be set to default to some other file,
TIFF, PDF, JPG, whatever.
How does the bank know that you are honest and don't deposit the same check
into multiple banks at the same time and how does the issuer of the check
get the cancelled check back? I would imagine the bank would allow you to
photograph the check as a deposit but possibly they place a hold on the
money until the physical check is provided. It seems a system that is ripe
with potential for fraud. Also what do the banks charge for this type of
The service is free. I think your take on the hold is correct. It is
just like any check. If there is insufficient funds or if you try to
cash the check twice, the bank can subtract the deposit and may or may
not charge you a fee.
My bank knows I'm an honest guy.
I guess you can deposit into multiple banks, but it will eventually
get caught by the issuing bank when they start to get duplicates. Each
check does have a number on it so the second one would be kicked out.
The banks to not return checks any more. I don't even get an image,
but I can print one from the on-line account if needed. Our
commercial account at work does return images (but not the actual
check) and the checks I deposit by phone come back yellow instead of
white. Not sure why or why it would matter.
As for fees, they do not charge. Yet. I have read that banks are
considering charging for the convenience of not visiting them. I
don't remember the last time I actually spoke with anyone at my bank.
Oh, about a year ago they did call and asked if I wanted to borrow any
money. I've not spoken with the tellers or branch manger in a few
years and use the ATM at the supermarket.
When I make a phone deposit, in minutes I get an email that it was
received. Then I get an email by 7 PM that it is approved and in my
Things happen quickly now, no more living on the float like you could
in the past.
They don't. He doesn't.
But when his bank gets the second request for funds for the same amount
from the same account with the same numbers, the fraud-stompers are
alerted immediately. They will probably make it to the airport before
If you are NOT cheating, the photo you sent eventually ends up at the
payer's bank, who will let him see it online for free, or print a copy
for an unjustified fee.
Wow...I'm really glad this check deposit app is available. In 72 hours I'm
going to receive the $12,700,000 check that the corrupt, senior officials
in South Africa have been keeping from me. A really nice guy sent me an
email and all I had to do was send him my personal information. Now that he
has that he is going to free up the funds that were approved a long time
ago but delayed by the corrupt officials.
Once that check arrives, I'm gonna snap a picture of it, send it to my bank
and I'll be on easy street.
I figured that banks implemented this on smartphones because it gives
them a degree of control over the app and the environment it runs in.
But that doesn't assure that the thing being imaged is actually a check.
Just a coule days ago some tweakers were busted with the printer they
were using to make and pass bad checks. So these apps might really be a
tweaker'a best friend. I think the reality is that banks don't care
about fraud. It's a small % of their transactions and they do everying
they can to shift the costs to someone else.
When a check is converted with one of these apps does it become a
subatitute check or an EFT?
This older article has some background info on the process
"New wave of banking: Check deposit via smart-phone photo"
It says there are some Credit Unions that allow use of home PC scanners.
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