A lot of banks are looking at ways to include smartphones into their services. Some have even gone as far as letting customers take pictures of checks and submitting them to their bank account from the luxury of their home.
Paypal wasn’t about to let the banks pull a fast one on them and now they’ve updated their application to include the same functionality. Using the Paypal application, you can now submit checks directly to your Paypal account. It doesn’t get much more convenient than that, but am I the only one who’s having a difficult time with the potential security concerns?
I guess it’s no different than forging a check and depositing it at an ATM, but man, I have a huge fear of someone stealing my mail and depositing my checks to their Paypal account. At least with your bank you can walk into an office and contest problems with a teller. Have you ever tried to get customer support from an e-commerce company like Paypal? It’s not at all easy.