November 28, 2012

Wells Fargo is expanding its mobile deposit capture service, Wells Fargo Mobile Deposit, nationwide, the bank announced today in a statement. Wells Fargo customers will be able to deposit checks using the mobile deposit app (available for iOS and Android) by taking a picture of the front and back of the check with the app.

Wells Fargo Mobile Deposit's initial soft launch took place in 15 states between June and October of this year. Customers in those states deposited more than 600,000 checks during that time, the bank's statement said.

"Mobile deposit is a very popular service among our customer base," Brian Pearce, the head of Wells Fargo's retail mobile channel. "Our mobile banking customer base has grown by more than 30 percent this year alone to more than 9 million customers. We attribute this growth to our customers' adoption of a new mobile lifestyle. Customers increasingly use their mobile devices to complete everyday tasks including managing their finances."

Customers using the service can make deposits by choosing the account they want to deposit the check into in the app, entering the check amount and then taking a picture of the check. Wells Fargo then send a confirmation to the customer. For security, the bank said that it uses advanced encryption to mask sensitive information, and no credentials or check images are stored on the customer's mobile device.

ABOUT THE AUTHOR
Jonathan Camhi is a graduate of the City University of New York's Graduate School of Journalism, where he focused on international reporting and interned at the Hindustan Times in Delhi, ...