PayPal iPhone App Lets You Scan Checks To Deposit
SAN FRANCISCO (AP) — 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 checks into their PayPal accounts by taking a picture of them.
The feature, which the online payment service launched this week, lets you snap a photo of the front and back of a check with your iPhone. After the shots are processed, the funds show up in your PayPal account balance and can be spent or transferred to a bank account.
PayPal, which is owned by eBay Inc., recommends keeping the check for 15 days, just in case it doesn’t clear properly. But after that, you can throw it away.
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