Credit unions will be the first financial institutions in Canada to let consumers make remote mobile deposits with their smartphones.
Central 1 has announced that three credit unions are poised to launch “Deposit Anywhere,” a new mobile banking app feature that makes it easy for consumers to deposit checks (or “cheques,” as it’s called up north) using their smartphones.
Deposit Anywhere is a branded mobile deposit service developed by Central 1, which is the effective equivalent to corporate credit unions in the U.S.
Central 1 is working with Meridian, Affinity and Westminster Savings credit unions to launch Deposit Anywhere as part of their mobile banking applications. According to Central 1, this means credit unions will be the first financial institutions anywhere in Canada to offer “remote deposit capture” (RDC).
Starting on April 17, members of Westminster Savings can use Deposit Anywhere when they download the credit union’s free mobile banking app from the Apple App Store or iTunes. Meridian and Affinity credit unions plan to launch the Deposit Anywhere feature soon thereafter in May.
Deposit Anywhere will be broadly available for credit unions to begin implementation this June.
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“Available through Westminster Savings’ mobile banking app, Deposit Anywhere will provide a highly convenient and secure way for our small business members and individuals to deposit cheques without going to an ATM or branch,” said Maury Kask, SVP and Chief Customer Experience Officer at Westminster Savings. “We are seeing rapid growth in the use of mobile banking and we know this time-saving feature will be very attractive to our members.”