Text, talk and deposit with your smartphone
You can order pizza, shop and do your banking right from the convenience of your home computer.
But what about depositing cheques into your bank account with your mobile device?
Well, select credit unions across Canada are launching a new mobile app that lets you do just that.
All you have to do, they say, is tap, snap and send.
Central 1 Credit Union is working with Westminster Savings Credit Union in British Columbia, Meridian in Ontario and Affinity in Saskatchewan to launch the new feature, Deposit Anywhere, as part of their mobile banking applications.
Mobile remote deposit capture lets you deposit a cheque anywhere, anytime in less than a minute without ever stepping into a branch.
And believe me, with our Canadian winters there are times when i dread having to venture out for a trip to the bank or anywhere for that matter.
Oscar van der Meer, Chief Technology Officer at Central 1, says, "We are constantly developing new, innovative ways for credit unions to meet the changing needs of their members.
"We help them keep in the lead of the rapidly developing financial services market."
The new feature is expected to launch first in B.C. on April 17th, followed by the credit unions mentioned in Ontario and Saskatchewan in May, with more to follow.
The free mobile banking app is available from the Apple App Store or iTunes.
Technology is definitely making it easier to free up valuable time in our busy lives.
Now I'm just waiting for the day when my cell will be able to make a coffee so I can skip the huge drive-thru line at Tim's in the morning.
By Donna Donaldson, MSN Money
Would you take advantage of depositing cheques into your account by using your mobile device? Why or why not?
Posted by: Paul Nicoletti | Apr 18, 2021 8:29:49 AM
Let's get with it folks. Smart phone and Pad deposits are common in the US with all financial institutions. This is not rocket science. It's very common technology. THe article makes it sound like the credit unions are a vanguard. They are not. It's just that in this case Canada is way behind.
Posted by: sam | Apr 18, 2021 9:12:54 AM
something else to get into problems...all these cell phone users no communication with people anymore no wonder what customer service is out there going down the tubs...if people knew what they looked like walking down the street phone in hand and texting, and nearly walking into other people.
We have lost all communication, and you can see it people coming into jobs to work, do not know how to deal anymore with people...you ask them a question and they sit there like a lump trying to think...
I guess then they can get rid of all the people that work in the banks...and look at the problem with financial institutions in the us...this is what happened it 2008 because of the banks.
When it comes to business you need to deal directly...yes free banking on them...down the road watch this is why all these companies are making money...maybe Canada is behind but they are not the ones in 2008 that dropped the markets to the bottom..
Posted by: Joe | Apr 18, 2021 10:03:17 AM
Dear Sam,
Do you believe that people want to communicate in person when dealing with transaction banking? I understand doing your investment banking in person but making bank deposits? Really? I think minimizing the amount of time people need to stand in line at the ATM or "teller station" would be welcome with open arms.
That said, I'm sure the bank will also introduce some new innovative charges to compliment this feature. We bring you the "app fee" and you will pay a fee every time you open the app. That was a joke but mark my words a “fee” will surely play a part in this equation.
Oh and Sam please stop hating on smartphone users. We don't hate on you for standing in line for three hours to cash your cheque at the bank teller station.