UPDATE: ING Direct is Now Capital One 360
After a long wait, ING Direct has finally added a feature that changes everything. In the past, I’ve talked about how much I like ING Direct, but they’ve been missing one important feature: remote deposit. The promised it would come sometime in Spring 2012, and it seems like they are right on time.
For a few years, I’ve used ING Direct as my primary bank, but I’ve kept my Bank of America account so that I can deposit checks. With ING, the check depositing process was so inconvenient that I never even tried it. It meant sending in checks via mail to get them deposited, which is far less convenient than walking down the block.
Well, now ING Direct makes walking to the bank a thing of the past, and there seems to be little reason not to replace your brick and mortar bank with ING Direct. Between this and giving out paper checks, ING Direct is now a complete bank. Bank of America has caused me a lot of trouble in the past, so it may be time to say goodbye to them.
ING Direct’s newest feature, CheckMate, allows you to deposit checks from anywhere using your mobile device. On the iPhone, all you need to do is snap a picture of the front and the back of the check, enter the deposit amount and the account you want to deposit to, and hit the send button. The only restriction is that the check must be under $3,000, which isn’t typically an issue. How convenient is that?
ING Direct has updated the entire iPhone app, you can check out all of the new and improved features on their site. The other feature of the app I think is cool is their ATM locator, which previously was part of a separate app. Having it all in one place is definitely a plus.
Check it out and let me know what you think. If you’ve been waiting for this feature, you can sign up now. I can’t wait to get a check and deposit it from the comfort of my own home!
UPDATE: I’ve found out a few more details about CheckMate from ING Direct’s help section. The most relevant things I’ve found:
- There is no fee to use CheckMate. It is absolutely free!
- All U.S. personal, business, and federal checks should be accepted. Foreign checks, money orders, traveler’s checks, and saving bonds will not be accepted
- You money will be available based on the following breakdown::
- Checks deposited for less than $500 – first $200 is available the next business day, the remaining funds are available after 2 business days
- Checks deposited for greater than $500 – first $200 is available the next business day, the remaining funds are available after 5 business days
- Checks deposited after 5 PM ET Monday through Friday, after 2 PM ET on Saturday and anytime on Sundays or federal holidays will be processed the next business day.