Smart phones may be your next bank branch
August 2nd, 2010
Some time soon, you may be able to cash your checks by mobile phone. Just take a picture of the check with the phone’s camera, transmit it to the bank, and it’s cashed. No need to visit a bank branch or an ATM.
Bank of America, the second-largest player in the St. Louis market, is experimenting with such a system now. USAA Bank, a Texas bank with a big military clientele, and JPMorgan Chase have it up and running.
Some time after that, your smart phone may double as a debit card. Wave it at a wireless reader at the checkout counter, and your phone will pay your bill and debit your checking account. Read more
Courtesy:www.stltoday.com