Just about everyone with a bank account knows what a hassle paper checks can be. Writing checks is a hassle enough, but cashing them is even worse. According to a recent study, the use of paper checks has already declined by seven percent thanks to electronic payment options. In that same study it was estimated that 24.5 billion is received in payments using paper checks. So it is no wonder that banks are offering mobile check deposits. All it takes is a photo and you’re done! No more waiting in line and no more piles of checks! So which banks offer this new-found technology and how do you get started?

How it Works

If you have no experience with remote deposit apps on the iPhone, there is no need to worry — it is really quite simple. All you do is line up the bars on the integrated camera app, snap the photo and the bank’s application does the rest. Basically, if you can take a picture on your iPhone, you can deposit a check.

Banks Offering Remote Deposit
Though banks offer apps through the iPhone, not all are capable of offering remote check deposits. Some of the banks currently offering this service include:

  • USAA Bank
  • Chase
  • PNC Bank
  • Charles Schwab
  • E*Trade Bank
  • ING Direct
  • State Farm
  • Bank of America
  • Digital Federal Credit Union

What if My Bank Doesn’t Offer Remote Check Deposits?
Is your bank still outdated on the new technology? Not to worry. You can open up a PayPal account, install the PayPal app on your iPhone and deposit paper checks directly to your PayPal account. From there, just transfer the funds to your linked bank accounts or get a PayPal debit card and automatically withdrawal from there. Just remember that PayPal can take three to five business days to transfer your funds.

Currently the remote deposits are available on the iPhone 4 and 5 as well as the iPad 2. Some banks require signing up for remote check deposit before accessing it on an app, while others include it automatically.

[Image via ToledoBlade]