PayPal, the e-commerce subsidiary of eBay that offers electronic payment services, has released an update to its free app adding a check capture feature. The new feature lets users take a picture of a check in order to deposit funds into a PayPal account. PayPal’s blog provides a brief overview of how to use the new feature:
PayPal Mobile’s iPhone app now allows you to transfer checks into your PayPal balance for free by simply taking a photo with your iPhone. Once you’ve photographed your check, just hold on to it for 15 days and then you can throw it away.
Depositing checks through the PayPal Mobile app is free.
PayPal joins Chase Manhattan Bank, who added a check deposit feature to its Chase Mobile app in July, and credit union USAA, who was the first to offer such a feature in its USAA Mobile app last year, in providing this kind of capability to iPhone users.