May 17 - Cambridge (Mass.) Savings Bank’s recent addition of mobile deposit to its mobile banking app allows personal banking customers to use their mobile device to deposit checks anywhere at any time. The free app, available on any iPhone, iPod Touch or Android device, gives customers the ability to make secure electronic check deposits to their checking or savings accounts without setting foot in a banking center.
“We strive to make banking as convenient as possible for our customers by giving them the ability to actively manage their finances and perform transactions when and where they want. Mobile devices are an important delivery channel for our services and the addition of mobile deposit is a really exciting advancement in this area,” said Paul Germano, vice president of eCommerce at Cambridge Savings Bank. “Since we went live, the response has been very positive.”
Cambridge Savings customers can now enjoy the convenience of making deposits wherever and whenever they choose with Mobile Deposit. Making deposits is completely secure using CSB’s mobile application, available for download from iTunes and the Android Market.
Using mobile deposit is as easy as 1) downloading the mobile banking app and accepting the remote deposit capture service disclosure agreement, 2) making deposits by simply entering the amount of a given check deposit and photographing the front and back of the endorsed check and 3) submitting the images for deposit into their accounts. After the deposit is submitted, customers are sent an onscreen confirmation that it was received.
Mobile deposit is protected by multiple layers of security like password protection, Internet firewalls, and 128-bit encryption, making it just as safe as online banking. To ensure funds were received, customers can opt to receive a deposit confirmation via email. All customers are advised to keep checks for 91 days after the deposit. At that point, the check can be destroyed or shredded.
Mobile deposit is only available to Cambridge Savings Bank personal customers with checking or savings accounts who are enrolled in WebBank and have downloaded CSB’s mobile banking app. Use of mobile deposit is subject to approval by Cambridge Savings Bank. While CSB does not charge a fee for the service, charges from wireless carriers may apply.
About Cambridge Savings Bank
Cambridge Savings Bank is a full-service financial institution with $2.3 billion in assets. As one of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services and has 16 banking centers located in Cambridge, Acton, Arlington, Bedford, Belmont, Burlington, Concord, Lexington, Newton Centre, Newtonville and Watertown. Cambridge Savings Bank also offers complementary access to business resource centers at the Arlington, Central Square and Newtonville branch locations, where community members can conduct formal business in a professional setting. Business resource centers offer a conference room, phone, fax and wireless Internet service, as well as copiers, printers, TVs, coffee and water. For more information about Cambridge Savings Bank, go to: www.cambridgesavings.com. Like them on Facebook at www.facebook.com/cambridgesavings or follow Cambridge Savings Bank on Twitter at www.twitter.com/csbinspired.