Press Release: Deposit Cash With Your Phone!


For Immediate Release

First Foundation mobile app now lets Canadians deposit cash with their phones

New feature will save individual and small business clients time and provide faster access to funds

EDMONTON, April 1, 2014 - First Foundation, a leading Western Canadian mortgage and insurance brokerage, today extended the range of mobile financial management tools available to Canadians with cDeposit, a new feature that lets individuals and business owners deposit cash directly into their bank account. Users simply take a photo of the cash with their mobile device.

“Mobile technology has advanced to the point that depositing cash was the next logical step in banking convenience for our clients”,said Gordon McCallum, President of First Foundation. “Anyone can build an app that allows you to deposit a cheque with your phone. That’s easy. First Foundation is the first to take it to the next level with cDeposit so you can deposit cash the same way.”

Early reviews from beta testers encouraged the company to keep the application as simple as possible while including requested features such as the ability to deposit bills of any denomination, foreign currencies at a favourable exchange rate, and multiple deposits of the same bill. “We’re most proud of our Burst Mode feature which allows users to deposit cash as fast as the phone’s camera is capable of shooting,” says McCallum. Plans are in the works to support eCommerce transactions that allow the deposit of online pictures of money, as well as peer-to-peer cash transfers. McCallum says, “Does a friend owe you twenty bucks? Now you can take a picture of their money and square up.”

The First Foundation cDeposit process is simple, quick, and easy.

  1. Just open the First Foundation mobile app and select the cDeposit feature.
  2. Take a picture of cash.
  3. Watch your account balance go up.

Adding the ability to deposit cash with a mobile phone was the top request on personal finance blog sites surveyed by First Foundation. Notoriously frugal, many personal finance enthusiasts welcome this newfound ability. “Now I can spend the pennies I’ve rolled just as slowly, but deposit cash quickly,” said I.M. Tite, a leader in the online frugality movement. “It’s a win-win!”

For more information or to view an online demonstration of the new First Foundation cDeposit app, CLICK HERE

For further information contact:

Gordon McCallum, B.Comm, AMP
President and CEO
First Foundation
780-702-7678 ext. 303

About First Foundation:
First Foundation is an independent mortgage broker and insurance broker that helps Alberta’s homebuyers and owners secure a mortgage and insurance at the best rates available from Canada’s top mortgage lenders and insurance companies. Motivated by a desire to help people achieve home ownership with savings and security, First Foundation always acts in the best interest of its clients. As a leading mortgage brokerage, it provides competitive mortgage rates, in addition to insurance and financial services. First Foundation serves the needs of property buyers in Alberta and Saskatchewan from its head office in Edmonton where it was founded in 2002. It’s management team also enjoys a good laugh at the expense of others - especially early in April.

President of First Foundation Residential Mortgages and First Foundation Insurance. Live in Edmonton but cheer for the Riders. I have lots of kids. Follow me on Twitter @gordmccallum

Learn more about Gordon McCallum