PayPal app makes cheque deposits a snap
Last Updated: Friday, October 8, 2010 | 9:44 AM ET
The Associated Press
Related
Internal Links
Betting you wouldn't trek to your bank or the closest ATM if you didn't have to, PayPal has added a feature to its free iPhone application that lets users deposit cheques into their PayPal accounts by taking a picture of them.
The PayPal app lets consumers deposit a cheque by taking a picture of it. (iStock)The online payment service owned by eBay Inc. launched the feature this week.
It lets you deposit a cheque by snapping a photo of its front and back with an iPhone. Once the funds show up in your PayPal account balance, they can be spent or transferred to a bank account.
PayPal recommends keeping the cheque for 15 days, just in case it doesn't clear properly.
Osama Bedier, PayPal's vice-president of platform, mobile and new ventures, said the feature cleared $100,000 worth of cheques in the first 36 hours it was available.
It's unclear whether Canadians will be able to take advantage of the application. Current regulations don't include image capture in financial transactions.
Share Tools
Top News Headlines
- Sopranos star James Gandolfini dies in Italy
- James Gandolfini, whose portrayal of a brutal, emotionally delicate mob boss in HBO's 'The Sopranos' helped create one of TV's greatest drama series and turned the mobster stereotype on its head, died Wednesday in Italy. He was 51. more »
- Top court to reveal if it will hear Rob Ford conflict appeal
- The Supreme Court of Canada will reveal today if it will hear an appeal in a conflict of interest challenge that previously threatened to oust Toronto Mayor Rob Ford from office. more »
- Brian Stewart: Forget the cynics, why the Taliban might just want peace
- One big reason, Brian Stewart writes, is the growing strength of the Afghan army. Without the U.S. and its media around to report on the fighting, the next phase in this conflict could get a whole lot bloodier. more »
- Dozens of children seized from Manitoba Mennonite community
- Child welfare authorities have removed all but one child from a small Mennonite community in rural Manitoba. more »
Must Watch
- Sopranos star James Gandolfini dies in Italy
- Wearing a mask at a riot is now a crime
- Dozens of children seized from Manitoba Mennonite community
- B.C. teacher duct-taped students' mouths
- B.C. First Nation sets fires to save bison
- Richmond widow racks up $1,800 hospital parking bill
- Obesity now recognized as a disease
- Bob Rae quits as MP in 'very emotional' decision
- Hail, flash floods hit southeast Alberta
