If you are willing to use your iPhone for fast and secure transactions, CIBC has just released an essential update to its classical app for Apple’s products. Mobile banking has never been easier, once you will try it, you will be delighted.
You will simply use the camera of your gadget and you will be able to deposit cheques, by the concrete snap of your document. This is a proof worthy enough for the Canadian bank to submit the further steps required in a mobile banking transaction. All in all, you don’t have to use an ATM or bank’s online services, to have your transaction performed, a couple of front and back pictures will help you save time. The update app is quite useful for businesses needing to sign multiple customer cheques, but also as individual user you can always enjoy the benefits of a comfortable mobile banking.
According to the bank’s representatives, this update will save the time of 11 million customers, an impressive number, if no technical trouble appears during the process. An interesting detail about this spectacular change is that the CIBC admitted that customers feverishly required the new method of payment, so the bank was just fulfilling their wish. You can do the same magic with your Android gadget too, the only exception established for the moment by the bank is that the service is available only for Canadian dollar cheques via eDeposit. Unfortunately, CIBC hasn’t mentioned when its BlackBerry and android app will receive the same update.
According to a financial report issued last year, it seems that other six major banks prepare their infrastructure in order to introduce a similar feature, so mobile banking will soon face a revolution. For the moment, ING Direct offers a similar app.
CIBC stated that the update is safe and secure, since none of your sensitive information regarding your money is effectively store on your gadget, which is transmitted wireless, but don’t neglect an extra-protection thanks to antivirus software.
Update (Dec. 12 2013):
CIBC announced that they are expanding innovative eDeposit service for business clients too by providing them with a desktop cheque scanner. Head over here for the full details.