App lets First TN Customers deposit Checks via Pictures
(MEMPHIS) Depositing a check into your bank account just got a whole lot faster. First Tennessee is one of the few banks that allow customers to directly upload checks over the phone by just taking a picture of it. Now several other companies are following that technology that took two years to create.
You could do it on your iPhone for about a year, but for the first time Android users who are customers of First Tennessee Bank can just download a free app and save that trip to the local branch.
It’s not advanced technology from the Jetsons. You can actually deposit a check by just taking a picture of it. First Tennessee Bank’s Chief Marking Officer Dam Marks says mobile banking has more than doubled in the past year.
“Many banks have mobile banking, but we’re one of the few who have the actual ability to deposit a check on our iPhone and android apps,” said Marks.
It takes the same amount of time to post to your account as if you physically went to the bank. All you have to do is sign the back of your check then log onto your online banking account through First Tennessee’s secure mobile App. You take a picture of the front and back then submit it, and it goes back to the bank for a quick review.
“Mobile deposit actually enables you to get the money into your account faster because as soon as you get the check you can make that deposit and not have to wait and make a trip to the bank or ATM,” said Marks.
You do have to be enrolled in First Tennessee’s mobile and online banking to get the free app, and customers have a limit of $3,000 per month for upload.