If you’ve often wished you could deposit checks easily into your PayPal account, the company finally answered your prayers on Tuesday night with an update to their iPhone app which now allows check capture and deposit.
9to5Mac is reporting that the official PayPal app has been updated to 2.7, which now allows you to make deposits directly into your account by capturing the front and back of your check, similar to the feature that Chase added earlier this year and that many regional banks have been doing for some time now.
Strangely, the feature is a bit buried within the ever-increasing options found in the PayPal app, but it’s found under the Money Tools tab, where you’ll now find an option to “Add Money From Checks.” After agreeing to all of the legal fine print, you’ll be presented with the screen above and when you tap Continue, you’ll be on your way to making your first deposit by check.
The only downside we can see to this otherwise convenient method is that PayPal claims such deposits won’t appear in your account right away, but “usually in about six business days.” So much for technology making things faster, right?
PayPal version 2.7 also makes some improvements to the History section which makes it easier to find past transactions with new search and filter options. As always, the app is free and the 10.8MB download is available in the App Store right now, compatible with iOS 3.1 or later.
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