MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bank customers can rely on their mobile device now more than ever to move and manage their money. With the launch of a new series of mobile banking enhancements starting March 14, customers can now use their mobile device to deposit checks and monitor credit card activity, in addition to features already offered such as person-to-person payments.
The enhancements are the latest in a series of innovations that in recent years have moved U.S. Bank to a leadership position in mobile banking and mobile payments. U.S. Bank is only the second of the largest banks in the United States to bring mobile deposit technology to its consumer and small business customers.
“Mobile innovation is a priority for U.S. Bank as we strive to bring maximum convenience to our customers,” said Mac McCullough, executive vice president and chief strategy officer at U.S. Bancorp, parent company of U.S. Bank. “These enhancements are the result of dynamic and integrated work across the company with the goal of bringing mobile convenience to more customers in more lines of business. We expect this trend to continue through 2011 and into 2012.”
Deposit Point Mobile
Making deposits is now as easy as
taking a picture of the check and sending it electronically to the bank.
Initially available to U.S. Bank Mobile Wallet users who have an iPhone,
customers can now deposit checks into their checking or savings accounts
right from their mobile device. They simply take a photo of the front
and back of the check, enter the dollar amount of the deposit, select
the checking or savings account into which the money should be deposited
and validate the information that was submitted. The paper check can be
destroyed after the deposit has been confirmed.
U.S. Bank customers are among the first in the nation to have this capability for the iPhone, and Android customers will see the technology in the summer of 2011.
The service builds off of a desktop remote deposit feature, Deposit Point, that U.S. Bank has offered businesses for many years. Customers simply scan the front and back of the check and send it through U.S. Bank Internet Banking. U.S. Bank has now expanded Deposit Point by offering it to consumers, making it possible to deposit checks from home, at the office or on the go via mobile device.
Credit Card Alerts
Customers can now keep a closer eye on
their credit card accounts via their mobile device by taking advantage
of free, customizable, real-time text or email alerts, including
suspicious activity alerts that warn of possible fraud. The alerts,
which need to be set up in U.S. Bank Internet Banking, allow customers
to take immediate action on suspicious activity and they also help
customers make wise purchases based on their credit availability.
The alerts inform customers if their credit card has been used for an ATM cash withdrawal, to make international purchases or for transactions where the card was not present. It also gives the customer information about declined transactions, which could be a sign of attempted fraud. The service complements the account alerts that U.S. Bank also offers customers on their checking or savings accounts, which include notification when transactions of a predetermined amount cross the account.
“U.S. Bank has had tremendous momentum in making services available on customers’ mobile devices through services offered in U.S. Bank Internet Banking and particularly since the launch of the U.S. Bank Mobile Wallet in September 2009. We’re pleased to see ongoing customer adoption of this and other mobile innovations that the bank has launched, such as person-to-person mobile payments, and is piloting, such as mobile contactless payment technology,” McCullough said. “We’re one of few banks in the nation with such a broad suite of mobile banking and payment features.”
U.S. Bank announced in November 2010 that it had partnered with Visa, DeviceFidelity, FIS and Monitise to pilot mobile contactless payment technology that allowed customers to pay for purchases by waving their phone in front of a Visa payWave contactless payment terminal. U.S. Bank was one of the first major card issuers in the United States to pilot this landmark technology, which its employees are testing in multiple states through March 2011.
U.S. Bancorp (NYSE: USB), with $308 billion in assets as of Dec. 31, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,069 banking offices in 25 states and 5,310 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.