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PayPal iPhone app update makes it easy to deposit checks

PayPal makes deposits with pics
By: Shane McGlaun | Mobile Devices News | Posted: Oct 7, 2010 7:04 pm

One of the things that I hate to do is go to the bank and deposit checks. Luckily most of my pay doesn't come on checks so I can skip this hassle for most of the month. If you use PayPal a lot and have lots of checks to deposit the company has announced a new update to its iPhone app that will save you a trip to the bank to deposit the check. The update is version 2.7.




With version 2.7 of the app PayPal now allows you to take an image of a check front and back and then submit the check for deposit without having to actually go anywhere. PayPal isn't the only bank who does this; there are some other major banks that have a similar service. PayPal does say the user needs to hang onto the check for 15 days.


It is supposed to take about six days for the money to actually hit your PayPal account using this method. That means PayPal gets an extra few days before you can toss the check into the trashcan. The check capture service is powered by BankServ. The update also brings various bug fixes to the app for better performance. The app can be downloaded right now from the App Store.



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