The Check is NOT in the Mail

Chase Bank just updated their new iPone app and it’s exactly the kind of customer experience all companies should strive for.

The new Chase app does a few cool things.  It allows you to transfer money, pay bills, send money to anyone with just their email address, pay credit cards and more all from your iPhone.  It’s a pretty slick app.  But the killer new feature in this app is the ability to deposit a check right from the phone.

I used it today.  I deposited a $10 check and a $150 check.   It was a fairly easy process.  I logged into the app, typed in the amount of the checks, took a picture of the front of the back and submitted.   That was it.   About two minutes later I had an email confirmation that the deposit was made.

I am a Chase customer and I love this type of customer experience.  In an industry many consider commoditized, Chase is creating ways to differentiate themselves from their competitors.

It’s this type of creativity that drives differentiation.  More companies need to do this.  I would have love to been sitting in the meeting or around the table when the Chase employe with the idea said, “What if we allow people to deposit checks from their phone?”   How would your company respond to such a creative suggestion that challenges every notion of what your industry considers secure?   Such outside of the box suggestions are too often met with –“yeah, great idea but.”  The but is then followed with every reason why it can’t be done.

Way to go  Chase for getting rid of the “yeah buts”.

This app is game changing.  Right now you can only deposit a check up to a thousand dollars and no more than three thousand a week.  I suspect as they work out the kinks the limits will go up and I will have one less reason to go to a branch . . .  and one more reason to stay with Chase.

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