Mobile deposit makes depositing cheques easier without going to the bank

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TD Canada Mobile App - DepositI love it that the banks that I am using now have mobile deposits available for their customers. To be able to make mobile deposits, what you need to do is, first, download and install the mobile app of the bank on your smartphone. Once you have the app installed, login with your account, take a picture of the front and back of the cheque that you received and upload these onto the app. It is a pretty straightforward process; just make sure you follow the instructions indicated in your bank’s app. Also, remember to keep the physical cheque in your possession (don’t shred it yet!) until you have confirmed that the bank has cleared the cheque to your account.

As of this writing, the Canadian banks that have this feature are the following:

  • CIBC
  • PC Financial
  • Royal Bank of Canada
  • Tangerine
  • TD Canada Trust

So, what do you think of this feature?

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