Citi Customers Can Deposit Checks With Their Phones
Citibank is the latest bank to add remote deposit capture, which lets customers snap a photo of a check with their phone and with the touch of a button, deposit it into their bank account. No trip to the A.T.M. required.
Citi is a bit late to the game: USAA customers have been able to beam their checks to the bank for more than two years, Chase introduced its app with a splashy campaign more than a year ago, and several other big institutions have joined their ranks.
But there’s still something incredibly novel about the feature when you try it for the first time. So I was delighted when I received the notice in the mail from Citi on the same day I also received a paper check.
Despite several negative reviews in the iPhone app store, my experience went smoothly. Once you’ve downloaded the Citi Mobile app to your phone and open it, you simply touch “services,” then “make a deposit” and “continue.” You’re then prompted to enter your A.T.M card number and your pin code. When it’s time to snap the photo, it suggests setting the check on a dark surface in a well-lighted area.
It accepted my two photos — of the check’s front and back — on the first try. It did take about 90 seconds for everything to register, but that was the only true hiccup throughout the entire process. I was instructed to “retain the check” in a safe and secure place until I received further notification (though six days later, I haven’t heard from the bank about what to do with the check now). The deposit appeared in my account on the same day I snapped the photo from my kitchen table.
There are some limitations, however. Deposits are limited to $1,000 across all of your linked accounts in any one-day period.
More banks plan on adding the feature soon. ING Direct, now part of Capital One, will introduce it later this spring (though there no immediate plans to include Capital One bank customers, a spokeswoman said). And Bank of America said it expected to introduce remote deposit in the second half of the year.
Other banks that offer remote deposit include Charles Schwab, U.S. Bank, PNC Bank and State Farm Bank. And while Ally offers remote deposit via a desktop scanner, it is still unavailable on smartphones.
Are there other banks that offer this feature that we’re missing? Have you tried using remote deposit?