Chase Mobile iPhone app can now deposit checks, pay friends

Smile! Chase updated its iPhone app this week to let users deposit checks with the built-in camera.

This functionality is similar to what USAA rolled out last year.

The new version of the Chase Mobile app is still a free download. To deposit checks with an iPhone, customers will need to enroll in Chase Quick Deposit, which is also free.

To deposit a check with your iPhone, all you need to do is open the app and take a picture of the front and back of the signed check. It helps to do this in a well-lit area. The app will attempt to read the amount and all routing information from your images; if it cannot read all of the information you are able to manually enter the routing and account numbers to facilitate the deposit. Once the check has been sent and all information is verified, the funds will instantly appear in your account, although they will be pending while Chase processes the transaction. You will be emailed.