Two large regional banks in the Boston market have introduced mobile apps that allow their customers to deposit checks by using their smartphones.
TD Bank, which has a big presence in Massachusetts, updated its mobile app for retail customers, so they can now take a photo of a check on their phone and deposit it into their account, without having to visit a branch or an ATM.
RBS Citizens Bank of Providence recently unveiled its next generation corporate mobile banking app that allows its business clients to use similar deposit technology.
Citizens Bank does not have the mobile deposit technology available for its retail customers yet.
Mobile check deposit technology is increasingly becoming a basic service that customers are demanding on their banking apps. Most of the country’s big banks and several community banks in Massachusetts have included the photo check offering on their mobile app package for more than a year.
Bank of America, the country’s second largest bank, said recently that it had 13 million mobile banking customers who used their smartphones to deposit an average of 100,000 checks per day.