PNC Bank, a member of The PNC Financial Services Group, Inc. (NYSE:PNC), announced today a new mobile banking feature that allows customers to conveniently deposit checks using an iPhone®, iPod Touch® or iPad 2®.
"There has been unprecedented change in consumer preferences and customers' relationship with their money," said Tom Kunz, senior vice president and director of e-business and payments at PNC. "Mobile deposit is another way that PNC makes it easier for customers to achieve their financial goals with innovative products and new technology."
Mobile deposit is now available to all consumer and small business customers of PNC Bank after its introduction to PNC Virtual Wallet® customers in April. The new mobile deposit feature arrives as more consumers are choosing online and mobile banking services over traditional options. It is estimated that 40 percent of U.S. consumers will be banking on their phones by 2012 compared to almost none just a few years ago.
PNC's mobile deposit, which can be used by any customer with access to PNC Online Banking and an eligible deposit account, allows customers to make deposits anywhere at any time. The simple three-step process takes about 90 seconds. The customer first selects the deposit account and the amount, photographs the front of the check and then the back. Mobile deposits made before 8:00 p.m. are typically available the next business day.
Mobile deposit is PNC's most recent example of innovation. In 2006, PNC introduced remote deposit for business customers. Virtual Wallet was launched along with mobile banking in 2008, followed by Virtual Wallet Student® and a new iPhone app in 2009. In 2010, PNC added new features to Virtual Wallet that help customers save more, manage spending and avoid mistakes.