PayPal App Update – Deposit checks with your iPhone camera
Just yesterday, the Google Mobile app was updated with Google Goggles, a new and exciting tool that lets you search objects and things around you simply by snapping a photo with your iDevice. And now, we see even more uses for your mobile camera – this time, in the form of depositing checks into your PayPal account. With the latest PayPal app update, users can capture an image of the front and back of the check and the funds will be deposited after a 6 day waiting period. If you’re not in a hurry for the money to clear (and assuming you actually have a PayPal account), this can certainly come in handy.
For those for you who use the Chase Mobile banking app, this form of digital deposit has actually been implemented for several months now. And with so many banks that have their own iPhone apps, it would be great for all users if this became a standard feature one day.
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