The use of smartphones to deposit checks is growing rapidly, offering a time-saving option for mobile Notaries to credit their bank account as soon as a notarization is complete. A recent study by the Federal Reserve Board found that 21 percent of smartphone owners have used mobile banking in the past year, utilizing technology that allows payments to be deposited more quickly and efficiently, along with other banking functions. Although the most common use of mobile banking is to review balances, many consumers are using this tool to make direct deposits to their own or another person’s checking, credit card, or PayPal account. The American Banking Association also indicates a rise in popularity of mobile banking, with 25 percent of customers saying it is now more popular with them than visiting a branch office or ATM. The ABA survey shows the main reasons why this technology is quickly gaining followers: It’s simple, convenient, and faster than locating a branch office or ATM Checks can be deposited immediately after the transaction is completed Accounts can be accessed from anywhere, anytime It’s faster than using a computer Consumers are more aware of bank balances, reducing the likelihood of an overdraft Both studies disclosed that a concern about security was the only disadvantage reported. The NNA’s recent tips about online security can help increase the safety of using devices such as smartphones and iPads. To learn more about mobile banking applications or other popular “apps” our members recommend, check out the November issue of The National Notary.