Bank technology

PNC App Adds Check Capture

By Daniel Wolfe April 11, 2011, 5:08 p.m. EDT 1 Min Read

PNC Financial Services Group Inc. updated its Virtual Wallet app for the iPhone Monday to include mobile check capture.

The feature allows users of Apple Inc.'s smartphone to deposit checks by taking pictures with the phone's camera.

It is the latest of many banks to switch on this feature for mobile banking users.

The Virtual Wallet account was initially designed to encourage paperless remote banking. For example, users of the original Virtual Wallet account would be assessed a 50-cent fee for each check after the first three written each month; as an alternative, PNC provides CashEdge Inc.'s Popmoney electronic payment service.

Virtual Wallet is offered as a group of three linked checking and savings accounts. In September, PNC plans to remove some of the features of the checking account, such as most ATM fee reimbursements. Those features largely remain available in a new version of the Virtual Wallet checking account called Performance Spend.

Content Director, Payments and Credit Unions, American Banker

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Bank technology

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