PayPal app for the iPhone will allow you to scan checks with your handset

Chase Bank customers have it really easy when it comes down to depositing checks because they can simply use the Chase app for the iPhone to scan checks with the phone's camera and have it sent to their account directly.

However, it looks as though PayPal will soon be offering a similar feature for their iPhone app. It seems as though a future update to the popular PayPal app for the iPhone will soon enable users to take photos of the front and back of checks and have it deposited directly into their account. Although it's still a rare thing to find with most financial institutions, PayPal's entry into this new technology will undoubtedly open the doors for many of its customers.

Not only is it a rare feature, but it'll undoubtedly save people time since they no longer need to travel and wait on lines to make a deposit. As it stands, the update should become available “in the next day or so.”

via TechCrunch