Simple Finance iPhone app update brings photo check deposits

Sections: Communications, Gadgets / Other, Mobile, Smartphones, Web

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Simple, which for those not familiar with the name, is an online bank. They tout themselves as being worry-free banking and offer users the ability to replace their bank. Of course, at this time Simple is still in a closed beta stage and only available for those with an invite. That being said, the folks at Simple have recently announced a new feature — one that current users can begin enjoying now and one that those still waiting will have to, well, continue waiting for.

Me personally, I am somewhere on that invite list and look forward to the day I get a welcome email and the Simple Visa card in the mail. Aside from the Simple Visa card though, a big part of the banking is done using a mobile app. Specifically, an iPhone app. And that brings us to the new feature. Simple has recently updated the iPhone app and introduced the ability to deposit checks.

Similar to other photo check deposits, you will need to write your account number on the check and endorse it. From here, take a picture of the front and back of the check. After that, sit back and wait for the check to clear your account. Simple notes that “depending on the size of the check and the length of time you’ve been a customer, up to $200 of your deposit will be available one business day after it is processed. Any remainder will be available the following business day.”

All said and done, sounds pretty reasonable. In fact, compared to the 5 or so business days that I recently waited when I photo deposited a check using the PayPal app, the deal with Simple sounds pretty good.

Via [iOS App Store]

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