I saw a TV commercial where you could use your smart phone to deposit
a check instantly. You just send in a photo of the check to the bank
and they process it.
Wells Fargo doesn't have it. To be fair, not many banks do. I have
my check direct deposited and also have bills direct debit. I do
however get quarterly dividend checks from some stock. I also just
got a refund check from an overpayment when I closed my ATT phone.
Being able to just take a photo of a check to have it processed would
be a nice feature.
If there's a credit union you qualify to join, it may provide the remote
deposit capability you're looking for. Additionally, credit union rates
and terms are almost always more consumer friendly than banks.
I've been banking with a credit union since 1980 and have had a
uniformly excellent experience. My interest bearing checking account
pays .45% interest with unlimited free checks. I've got unlimited
direct deposit and automatic bill pay set up for every account that
allows it. For overseas use, the VISA debit card linked to the account
charges only a 1% international transaction fee and all ATM use,
domestic and foreign, at any ATM in the world that accepts VISA is free
of fees. In addition to detailed monthly printed statements, I have
full capability on-line banking capabilities. By the way, I can also
scan or photograph an endorsed check and e-mail it to them for deposit
from anywhere in the world. You can't touch those features with a bank
P.S. Except for being a customer with deposits, I have no affiliation
whatever and no investment in any credit union.
No, they're regulated like credit unions. I see that as a benefit, not
a problem. Perhaps that's why credit unions can run circles around
banks when it comes to the most common services desired by non-business
depositors. You should know that credit union deposits are insured by
the NCUA at the same limits as bank deposits are insured by the FDIC.
}The problem with Credit Unions is that they want to act like a bank,
}but they're not regulated or taxed like a bank.
Given the games banks have been up to of late that's a negative?
I'm the executor of several estates. Those that where not hamstrung by bank
inserted T&C in the will I've move to Credit Unions. The former I'm faced
with all sorts of hassles and fees, the latter near zero. Even if the fee
is 'mandated' the credit unions will waver those where as the banks won't.
You know, as far as I can tell, emailing a check would be the same
thing, as they are relying on you not to try to cash the check some
where else before it clears.
Someone on the Net said that a smart phone provided an extra layer
when it came to IDing the person that sends the check. This seems
My credit union requires a different endorsement when e-depositing a
check versus mailing it in, putting it into an ATM, or presenting it at
a teller's cage. They want the words, "for e-deposit only" as the
endorsement. I assume that an e-deposited check will be almost
immediately credited to your account (even if the funds may not be
available for prescribed lengths of time if the check is out of state or
exceeds certain dollar limits) and entered into the automated clearing
It would be hard (and should be impossible) to cash a check in person
that was already endorsed as "for e-deposit only". If someone was
asleep at the switch and did cash it for you, it would surely bounce as
a duplicate deposit when it entered the automated clearing house system.
You'd be on the hook for bouncing a check.
Wasn't Wells Fargo about the ONLY bank that didn't get into the real
estate bubble collapse?
From personal experience, I once got a 'signature' loan from them
[very large in today's dollars] and sure enough about three years into
it, the economy tanked and I had difficulty repaying on their
schedule. By instantly communicating with them we worked out a deal.
then the economy came back and I paid off the loan way ahead of even
the original schedule. A few weeks later I got a $1000+ refund check
from them where they actually went through and calculated determining
that I had overpaid. So, they sent me a refund.
In view of them not getting into all those scams AND the personal
treatment I received from them I would use them right now if I didn't
have such good service form a credit Union I joined in 1972 who
provides interest, free checking accounts and very personal services -
like arrange a bank wire or cashier's check by telephone call.
I just called my branch and the girl that answered the phone said that
WF doesn't do that yet. Georgia must not be one of the states on the
I downloaded the app, but because my hands shake, I missed the logon 3
times in a row. I am going to have to wait a while before I try it
again. I did learn that if you rotate the phone 90 degrees, you get a
much larger keypad, but I still missed it. :)
The link you posted says..................
When it comes to personal banking, the smartphone can now accomplish
most of what a bank teller or an ATM can do, aside from actually
dispensing cash (iPhone 6 feature, perhaps?).
That doesn't seem like it would be hard to implement. (A check, not
cash) The phone should be able to print to a printer (wireless) just
like a laptop could. I haven't learned much of what the android phone
is capable of, but I haven't found a print function. That doesn't
mean there isn't one.
Print/fax on a phone would be useful.
Here is a snip from the "secure message" I received:
"The service is currently not available in Pennsylvania. Customers who
have Mobile Banking will see an icon appear for "Mobile Deposit" in
their mobile banking session when the service is available. Once the
icon appears, you can select it and get started."
Sometimes alternate keyboards work better. I like swype.
The whole point of a smartphone and similar devices is that you don't
need to print stuff. Years ago I would say print stuff out before
leaving. Now it is right on the phone.
And four days later the FBI shows up at your door. Remember the banks
can be pirates and we reward them by bailing them out and let them
continue business as usual. It doesn't work for you and me though.
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