No bank? No problem. Phone apps let you deposit checks

Earlier this month, JPMorgan Chase updated its iPhone app to allow customers to electronically deposit checks. To make a deposit, customers photograph the front and back of the check with the phone's built-in camera, then transmit the image to their account. USAA has offered a deposit app since last August. Customers have used it to deposit 1.5 million checks worth more than $900 million, spokesman Paul Berry says. Chase's decision to offer mobile deposit will force other banks to seriously consider offering their own app, says Bob Meara, senior analyst at Celent, a research firm. USAA and Chase say they've installed several features to protect app depositors from fraud. Posted in: Check Fraud