Citibank has within the last few days begun aggressively marketing its mobile check deposit function, which it is offering to consumers for free.
A Citi official said the bank is rolling out remote deposit capture slowly area by area. Citi began piloting the product last October and officially made it available last month.
JPMorgan Chase began offering its remote deposit product in 2010.
Citi is making the service available on iPhones and Android phones. Only checks of up to $1,000 will be processed through Citi’s RDC. The bank is not charging for the service.
We are trying to confirm that Citi is using Mitek’s RDC solution.
See Citi’s RDC webpage here, as well as Citi RDC/mobile banking on iTunes and the Android app store.
WaMu customers who are facing foreclosure should be happy they’re under the JP Morgan Chase umbrella. Bloomberg reports:
JPMorgan Chase & Co., the largest U.S. bank by market value, said none of its customers will face foreclosure in the next 90 days while it finds ways to make payments easier on $110 billion of problem mortgages.
Two weeks ago Chase accepted a $25 billion cash infusion from the government and will look to re-examine loans and possibly reduce interest rates or principal amounts according to the article.
The program is expected to help 400,000 families with $70 billion in loans over the next to years to add to the 250,000 families with $40 billion in mortgages that have already been helped under existing loan-modification programs.
The program extends to WaMu customers and clients of EMC, the loan-servicing company the bank acquired in its takeover of Bear Stearns Cos.