October 6th 2010
By Mike Flaminio
PayPal has updated their iPhone app for now handling checks. The promising feature allows users to cash a check just by take a photo with the iPhone's camera . Basically users take a photo of the front and back of the check, and PayPall will deposit it in your account. The feature is supported only in the U.S. right now. PayPal says it may take up to 7 business days to gain access to the funds, and then another 2-3 days for the transfer. Also PayPal suggests you hold on to the check until everything has cleared.
The version 2.7 update is free an now available in the iTunes Store.