05:40 pm - Friday 28 April 2017

Canadians can now deposit check through mobile

By insightVAS - Thu Nov 28, 12:49 pm

Canada’s one of the biggest banks has announced that people can now deposit their checks using their mobile phones. This is already popular in other countries. Clients will be able to skip the trip to the ATM or the branch and make their deposits by simply taking a picture of the check, front and back, with a smartphone and sending the information to the bank via a special app.

“Whether you are a small business owner with a handful of customer checks at the end of day or an employee getting your weekly paycheck, you can literally make a deposit within seconds,” said David Williamson, Vice President of CIBC, the first big bank in Canada to make this service available.

The bank will take several days to process the deposit, after which the customer can void and discard the check.

According to the bank, it is due to the customer request they decided to offer mobile deposits. The function is “safe and secure,” the statement added. “None of the financial information is stored on your device and all wireless transmissions are securely encrypted.”

The  smartphone app with mobile deposit will be available for download in Apple and Android devices.

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