Fidelity [profile] just upgraded its iPad app to handle mobile deposits. Customers of the mutual fund giant's online brokerage can make an IRA deposit by taking a picture of the check using the app. Fidelity started accepting mobile check deposits for non-retirement accounts in May 2011.
According to the Boston Behemoth, 45 percent of its customers annual IRA contributions arrive in the 28 days leading up to the April tax deadline, so the new app arrives just in time for that rush.
Company Press Release
As 2011 IRA Contribution Deadline Approaches, Fidelity® Introduces Mobile Check Deposit for its iPad® App
03/02/12
First Major Online Brokerage Firm to Offer Mobile Check Deposit Directly into IRA and Brokerage Accounts via its iPad App
BOSTON – With the April 17 deadline to make 2011 individual retirement account (IRA) contributions just around the corner, Fidelity Investments® today announced that investors can now make deposits directly to their Fidelity IRAs via the Fidelity App for iPad®. The mobile deposit feature is part of a new update to the app launched today and available from the App Store. The launch makes Fidelity the first major online brokerage firmi to offer mobile check deposit through iPad.
With Fidelity receiving approximately 45 percent of annual IRA contributions within the 28 days leading up to the April tax deadlineii, this new deposit feature provides investors an easy and efficient way to meet this important savings deadline. They can now take a picture of a check with their iPad camera and immediately send it to Fidelity for deposit into their Traditional or Roth IRAs, as well as into any non-retirement (brokerage) accountiii.
“Fidelity has a long history of addressing customer needs and providing investors with service and innovation they cannot get elsewhere,” said Richard Blunck, executive vice president of digital distribution at Fidelity. “As the IRA leaderiv, helping millions of Americans plan for retirement, we continue to invest significantly in offerings that make it simple and easy for our customers to successfully manage their finances. Our mobile deposit feature is designed to help them more conveniently meet a key IRA deadline.”
In May 2011, Fidelity began offering mobile check deposit for non-retirement accounts on its mobile app for the iPhone®. Since that time, deposits made through Fidelity’s mobile apps have been increasing steadilyv.
Mobile check deposit is just one of the latest enhancements to Fidelity’s iPad app. Other recent improvements include:
• World market performance and news – The app’s home screen features a world map with quotes for key equity market indices, and the ability for eligible investors to turn on real-time streaming quotesvi, watchlists and news for a more timely experience. Current news stories and contextual video can also be accessed through the app.
• Advanced, interactive charting – The app offers new ways to conduct mobile research, including 10 popular technical indicators that can be overlaid on charts. Investors can display three charts on-screen at once, and customize them for color, chart style and timeframe.
• Investor trends and ideas – Investors who wish to conduct further research can access independent, third-party content from Zacks Investment Research, Recognia®, FirstRain and Econoday®. They also can generate investing ideas by viewing what stocks Fidelity customers are trading most throughout the day.
• Visually enhanced elements – Heat mapping indicates price movement in a customer’s portfolio and an interactive “click wheel” tool helps customers review balances from multiple accounts.
Fidelity Mobile® Usage Soars
In 2011, Fidelity Mobile usage experienced triple digit growth for the second year in a row, and log-ins year-over-year across all devices increased nearly 100 percent from December 31, 2010 to December 31, 2011vii. Today, Fidelity enables customers to access and execute a wide variety of investment services on their iPhone, iPod touch®, and now iPad. Fidelity’s updated iPad app is available starting today via a free download from the App Store at www.itunes.com/appstore.
Investors can learn more about Fidelity’s broad mobile offering on the Fidelity mobile Web page (www.fidelity.com/mobile) or by speaking with a customer service representative at 1-800-FIDELITY.
About Fidelity Investments
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $3.5 trillion, including managed assets of $1.6 trillion, as of January 31, 2012. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit www.fidelity.com.
iMajor online brokerage firms considered include Schwab, TD Ameritrade, E*Trade and Scottrade.
iiFidelity internal business data through 12/31/2011.
iiiDaily maximum Mobile Check Deposits cannot exceed $10,000. Generally, deposits submitted on a business day prior to 4:00 P.M. ET and determined to be in good order will be posted that day. Check deposits are not processed on Saturdays, Sundays, or New York Stock Exchange and bank holidays. Check deposits are generally not available for withdrawal or to purchase securities online for 4 – 6 business days.
ivCerulli Associates’ The Cerulli Edge®—Retirement Edition, fourth-quarter, 2011, based on an industry survey of firms reporting total IRA assets administered for Q2 2011.
vFidelity internal business data through 12/31/2011.
viStreaming functionality is available to logged-in Fidelity customers who execute 120 or more trades per year on any Fidelity trading platform.
vii Fidelity internal business data through 12/31/2011. System availability and response times may be subject to mobile phone network and market conditions.
Fidelity Investments, Fidelity, the Fidelity Pyramid design logo and Fidelity Mobile are registered service marks of FMR LLC.
iPad, iPhone and iPod touch are registered trademarks of Apple, Inc. Multi-Touch is a trademark of Apple, Inc.
Other third party marks included herein are the property of their respective owners.
Fidelity Brokerage Services LLC, Member NYSE, SIPC 900 Salem Street, Smithfield, RI 02917
Subscribe to MFWire.com's News Alerts [click]
Email & Route 
Print 
Raw XML
