Chase has this app that allows you to snap a picture of a check with your phone and deposit that check into your account.
How do they prevent:
- Someone from depositing a check that's not written to them? (I can’t imagine this app is smart enough read the scribble “to” Filed) Are they leaving it up the check writer (who may not even be a Chase customer) to catch this and complain?
- What's to stop someone from depositing the check to Chase by Phone,then 2 mins later walk into another non-Chase bank and deposit it there?
- What's to stop someone from depositing the same 12 every other month?
The only thing I can think of I that they are simply hoping that these thing will happen in such small quantities that they can handle it on a case by case basis IF the check writer complains...
You can literally walk into you AR Dept when the clerk is out to lunch and snap a picture of a 100k check! Sure, it's stupid to be so bold with such a large check but what about small ones? In my mind there there is a good chance check will not be rejected when the clerk deposits it in the company's bank that afternoon.