Deposit checks to PayPal via iPhone, coming soon

At TechCrunch’s Disrupt conference, Laura Chambers of Paypal waxed poetic about a new app update (set to release any minute now) that brings a really interesting new feature to iOS mobile PayPal users: Check deposits via phone. Users just snap a pic of the check, front and back, and funds get deposited in their PayPal accounts.

This isn’t the first time we’ve seen mobile check depositing. Chase, for instance, offers exactly the same functionality in its own app, and Bank of America has one in the works. But it’s newsmaking that this is available from a non-traditional, internet-only institution via iPhone app.

It’s a great idea… but… maybe the timing could’ve been better? I’m wondering if that whole snafu with PayPal-backed iTunes hacking shouldn’t get resolved a little more fully before the company markets this new feature to iPhone users, of all people. Jussayin…

This seems to be the “It” thing in iPhone banking this year. But has the feature really taken off yet? If you’re hooked on mobile checking deposits — or fear it — let us know below.

Via: TechCrunch